Valleywag is reporting that Om Malik has demoted himself to Contributing Editor to become a Problogger. In a leaked internal email from Business 2.0 staffers is this paragraph:

As many of you already know, Om Malik, after three years of writing about startups, Web 2.0, the GoogleNet and everything else, has decided to eat his own dog food. He’s accepted seed funding to turn his mega-popular blog, gigaom.com, into a real business.

Gigaom is the 85th most popular blog according to Technorati. It will be a fun ride to see how Om grows his blog and creates a business out of what we know as Gigaom.