Last year, Mode Media generated nearly $90 million dollars in revenue.
Now the company is closing its doors.
The lifestyle publisher and ad network told its employees it is shutting down today, according to people familiar with the company.
It's an abrupt end for a company that had previously cast itself as one of the web's biggest publishers, enjoyed a billion dollar valuation and planned on going public.
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Mode started out as Glam Media, a collection of sites aimed primarily at women; the company's original CEO, Samir Arora, used to pit his company against publishers like NBC's iVillage.
Mode/Glam's individual sites never commanded much media attention, but the company was able to boast that it commanded significant web traffic, in part because of the network of sites it represented with ad deals but didn't own.
Earlier this year, comScore pegged Mode as the 10th largest digital publisher in the U.S., with 137 million visitors.
In 2011, Mode/Glam acquired Ning, the social network co-founded by investor Marc Andreessen. In 2013, the company filed confidential paperwork with the U.S. Securities and Exchange Commission to go public but never went through with an offering.