Guest blogging is not dead because google penalized only bad links
I think every seo expert and webmaster know that largest guest blogging network has penalized by google , however , it does not mean that guest blogging is totally dead. Matt warn to SEO experts who is link builders and using guest blogging for build links.There are ample of link builders, who are using thchae biggest guest blogging network for a wrong way and merely build links to their site to aquire high rank and traffic website .
Google spammer head Matt cutt has warned to guest bloggers that, if your site is belong to fashion industry then please search fashion related niche blogs which can helpful for your ranking in google . but Don’t try to post in jobs websites or other niche blogs which do not belong to your niche. It seems spammy and google will not approve any value to its users.