Beauty and lifestyle bloggers have taken to Twitter to air their disappointment and anger following reports that content network Mode Media – valued at $1bn – has shut down.
Although the Brisbane, California, company has yet to issue a formal announcement, a memo circulated to employees, and seen by The Wall Street Journal, is said to have confirmed that Mode was closing its doors on 15 September with little notice.
Mode Media, formerly Glam Media, worked with bloggers to build up their presence by curating content and publishing it on its own digital feed. In return, bloggers were offered regular monthly payment.
The news has come as a blow to scores of beauty bloggers, who have taken to Twitter to share their views, with many claiming they are still owed thousands of pounds.
Spoke w/ a @ModeMedia rep on phone at home. Kiss the money they owe you goodbye. Unlikely we will be paid. #ModeMedia $15k+ loss for me.
— Crissy Page (@Crissy) September 16, 2016
So awful to hear about #ModeMedia. I left them a few years ago as they didn't service my needs; now I'm very glad I did.
— Hayley | LBQ (@LBQblog) September 16, 2016
Hearing the news about #ModeMedia I am concerned about what this might signify for the blogging industry as a whole.
— BecBoop (@BoopFashionista) September 16, 2016
I've never felt so relieved to be blogging independently! #modemedia I really hope you all get what you're owed!
— Tor thatspeachy (@tornumber9) September 16, 2016
German publishing heavyweight Hubert Burda Media was revealed as Mode Media’s major investor, but sources claim that the company had decided not to invest any more money.
Mode Media has been trying to bring its business back from bankruptcy for some time; in 2013 as Glam Media it filed for an IPO, which never came to fruition.
