On one hand some blog networks are retrenching a bit, while a few others are expanding, or at least preparing for the long winter ahead: GigaOmni Media, the parent of GigaOm and NewTeeVee B2B blog network, has raised $4.5 million in a new third round of funding. The round was led by Alloy Ventures, and previous investor True Ventures also participated in the round. It has raised slightly above $6.5 million in its three rounds till now. Founder Om Malik recently joined True as a venture partner, part of his professed attempt to pull back from the daily grind at the blog media company. The company says it will use the money to "enhance our technology platform and content offerings, add to our current portfolio of publications and expand our Events and Briefings businesses." In the last few month th company has acquired two blogs, jkOntheRun and TheAppleBlog, and appointed a new CEO.
By Rafat Ali