The New York New Media Association (NYNMA) is no more, a victim of what is being described as a “significant financial shortfall.”
After rocketing out of nowhere during the dot-com boom, one of the last remnants of Silicon Alley has passed quietly into history, officially selling off its assets to the Washington, D.C.-based Software & Information Industry Association (SIIA) and shutting down its offices in the Big Apple.
Financial terms of the acquisition, which had been in the works since April, 2002, were not released.
The finality of NYNMA’s demise was included in an e-mail to NYNMA members. “Unfortunately, NYNMA now finds itself unable to continue to support you. Effective Friday, December 19, 2003, NYNMA has closed down its operation,” the association said.
SIAA plans to open a New York City office to operate some key NYMNA programs like the JobsNetWork, Executive Roundtable breakfast, Face2Face and the Venture/Private Equity Forum.
At the height of its operations in the late 1990s, membership of NYNMA ballooned to over 8,000, many of which were part of small start-up companies. When the tech bubble burst, the association struggled to scale back costs as membership dropped and corporate sponsors cut back on spending.
The association was best known for its Super CyberSuds technology networking and trade show.