Mode Media

Mode Media
Privately held
Industry Internet, Media, Fashion
Founded 2003
Founder Ernie Cicogna, Fernando Ruarte, Vic Zauderer, Dianna Mullins, Raj Narayan, Rebecca Bogle Arora, Susan Kare, Emmanuel Job, Samir Arora
Headquarters 2000 Sierra Point Parkway Brisbane, California, U.S.
Products Mode.com, Mode Video, Glam, Foodie, Brash, Bliss, Tend, Ning.com
Website Mode Media

Mode Media, Inc. (formerly Project Y, Glam Media) was a digital lifestyle media company where content was produced by anyone but reviewed by professional editors prior to publishing. In 2013, Mode Media had a valuation of about $1 billion as the company prepped for an IPO. In 2015, Mode Media had grown to over $100 million in revenue, primarily from providing native content, branded video and digital advertising to large brands but had over $100 million in expenses.[1]

On 15th September 2016, Mode Media abruptly shut down its operations.[2]

History

Mode Media was founded as Project Y, Inc. in 2003 by Ernie Cicogna, Fernando Ruarte, Vic Zauderer, Dianna Mullins, Raj Narayan, Rebecca Bogle Arora, Susan Kare, Emmanuel Job and Samir Arora.[3] The company originally was founded as a website to offer high quality fashion and beauty content and blog content. [4]The company launched Glam.com in September 2005 at Fashion Week in New York.[5][6]

As the company grew, it diversified its focus from exclusively targeting a female audience. The company owned and operated Mode.com across 20 lifestyle categories and Channels: Glam (Women Style, Fashion, Beauty), Brash (Men's Lifestyle), Bliss (Health & Wellness), Tend (Parenting), Foodie (Food Recipes and Restaurants) and Entertainment, Music and Video. In June, 2007, Mode Media became the #1 women's web property in the US as reported by comScore.[7] In September, 2007, Mode Media launched its first discovery product "Glam Curator" and started to popularize the term "curation" as a new way of filtering content in the social web.[8] In January 2009 Mode acquired Personiva Inc, along with this Glam India Pvt. Ltd. a 100% subsidiary India company was created. Glam India created Glam Adapt, the Ad serving engine for Mode Media previously known as Glam Media.

In September 2011, Mode acquired Ning, a social media platform that allowed users to create custom social networks.[9][10] In 2014, Glam Media was renamed to Mode Media.[11] In 2014, Mode Media launched Mode Studios, to create original video series, branded entertainment and digital films in New York, San Francisco and Los Angeles.[12] In 2015, Mode Media launched Mode Video streaming platform [13]

In total, the company raised approximately $225 million from silicon valley venture firms Accel, DFJ, Walden, Information Capital and investors Burda and Dentsu.[2] After abruptly ceasing operations in September 2016, operations of its Ning division passed to a New York based company, Cyndx.[14] Mode Media did not file for bankruptcy protection.[15]

References

  1. ↑ "Mode Media Raises Another $30M".
  2. 1 2 Gage, Deborah (2016-09-15). "Billion Dollar-Valued Mode Media Shuts Down". Wall Street Journal. Retrieved 2016-09-16.
  3. ↑ "Leadership - Mode Media". Mode Media. Retrieved June 24, 2016.
  4. ↑ "Glam.com Launches the First Fashion Blog Network". Glam Media Inc. Retrieved 2016-06-23.
  5. ↑ Miller, Claire Cain (September 17, 2007). "Pretty in Pink". Forbes.com. Forbes.com LLC. Retrieved November 2, 2007.
  6. ↑ "Glam Media. About Glam. Our Story.". Glam Media. Glam Media. Retrieved October 24, 2007.
  7. ↑ Marshall, Matt. "Glam surges to No. 1 women's property, overtakes iVillage". VentureBeat. Retrieved 2 May 2014.
  8. ↑ Marshall, Matt. "Glam, the Web's fastest growing network, unveils Digg-like feature". Venturebeat. Retrieved 2 May 2014.
  9. ↑ http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=159013
  10. ↑ Parr, Ben. "Glam Media Acquires Ning". Mashable. Retrieved 2 May 2014.
  11. ↑ Castillo, Michelle. "Glam Media Rebrands as Mode Media and Takes On Netflix". AdWeek. Retrieved 2014-07-14.
  12. ↑ "Mode Launches Comprehensive Video Service".
  13. ↑ "Mode Launches Video Streaming".
  14. ↑ Spangler, Todd (2016-09-16). "Mode Media Shuts Down: Women-Focused Digital Player Once Valued at $1 Billion". Variety. Retrieved 2016-09-16.
  15. ↑ McAlone, Nathan. "Inside the catastrophe at Mode Media, the billion-dollar juggernaut that suddenly went bust". Business Insider. Retrieved September 22, 2016.
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