Mode Media, the female-focused digital-media company with a valuation of more than $1 billion at one point, has laid off 30 employees in the U.S. and is planning further cutbacks internationally, according to a Wall Street Journal report.
The company did not respond to requests for comment.
The reported layoffs come as the Brisbane, Calif.-based Mode Media has had several high-level exec departures. In April, founder and CEO Samir Arora resigned and was replaced by interim CEO Jack Rotolo, who was previously in charge of global operations and built the company’s North American sales organization. And earlier this month, Mode president Dan Lagani left earlier this month to join social-publishing startup Diply as president and chief revenue officer.
In May 2016, Mode Media had 127.4 million unique mobile and desktop visitors, down from 148.0 million in May 2015, according to comScore. The company describes Mode.com as a “social networking platform” with content from more than 10,000 creators. The site delivers personalized content and video that “informs, inspires and entertains” through a combination of editors and content-algorithm technology, according to Mode.
Articles on Mode.com currently include “9 Things That Will Change the Way You Look at Open Marriages,” “I Ate Like Gwyneth Paltrow for a Week” and “7 Female Empowerment Quotes by Our Favorite #GirlBosses.”
Founded in 2004, Mode Media was previously called Glam Media before the company rebranded itself in 2014. It has raised about $225 million over nine rounds of funding, according to CrunchBase. Investors include Hubert Burda Media, GLG Partners, Accel Partners, DAG Ventures, Draper Fisher Jurvetson, Walden Venture Capital and Information Capital.