Digital Media Darlings Unfazed by the Fall of the News Site Gigaom - NYTimes.com

From a detailed Gigaom postmortem

"Chief among those problems was a bet on a division that sold specialized market research reports to corporate customers. That division grew to become Gigaom’s largest business, but it became less clear over time that it could deliver on those big expectations.

In the days since the shutdown, a telling disagreement has emerged among people associated with the company. Some say that Gigaom was a business that, in retrospect, could never have worked as it was structured. Others say that it may have paid off one day, if only its investors and creditors had given it a bit more patience and a lot more money.

Neither story is much of a testament to the way the company was run."

Digital Media Darlings Unfazed by the Fall of the News Site Gigaom - NYTimes.com