Mode Media, once a $1 billion valued company, shuts down abruptly

Mode Media, a Silicon Valley-based company that raised at least $186 million to build a new age media giant, has abruptly shut down, according to a source close to the matter.
The WSJ first published a piece about the closure this evening. We’ve confirmed that the U.S team met at 11 a.m. this morning and has decided to shut down the U.S. offices today. The company’s international offices are expected to shut down next, since the company’s business, including ad sales,