A media company once valued at a billion dollars is now shutting down. Mode Media, which delivered fashion, beauty, and lifestyle content to an audience consisting predominantly of women, will close its doors, according to a report by the Wall Street Journal.
Mode’s billion-dollar valuation came back in 2013, as the company was preparing to go public. It never ended up announcing its IPO, and while it raised close to a quarter-billion dollars over its 12 years of existence, it evidently could not sustain its success in a crowded industry. In April 2016, its CEO departed his post, and three months later, 30 of its employees were laid off. Now, as of this post, the main Mode homepage is inaccessible, though the company’s corporate portal can still be reached.
One place where Mode did excel was on YouTube. The company’s official channel has close to 450,000 subscribers; its most-viewed videos include some twists on the 100 Years… format made popular by companies like Cut. It remains to be seen whether those videos will be set to private as Mode goes under, but they’re currently available if you’d like to give them a watch: