Modsy, the San Francisco-based, online interior designer platform, has shut down, according to online reports.
The e-design company “discontinued its design services and laid off most of its staff,” according to Business of Home, which also reported that a failed acquisition deal lead to the “abrupt closing.” CEO Shanna Tellerman wrote employees “that leadership would be winding down the ‘corporate and legal entity of Modsy.’”
BOH added that the company has “been rapidly winding down its purchasing operations and had told designers it was canceling external purchasing by June 21.”
Tellerman sent a statement to TechCrunch that said: “We have worked hard over the past seven years to build Modsy and never expected we would have to disrupt our business. Our focus has always been, and still is, on our customers. We intend to fulfill customer merchandise orders and we are working through a process for our design service customers. We ask for your patience as we work through this plan. I hope that for many people, the Modsy story will not be defined by this turn of events, and we are truly sorry. We would like to thank our team, our designers and our customers.”
Founded in 2015, Modsy was still making strategic moves earlier this year. It hired a former Amazon leader as its first chief revenue officer in January and then unveiled its virtual Renovation Design service in March. It is currently promoting a software service called Modsy Pro on its website, which TechCrunch said the company is transitioning toward.
Andrea is passionate about home design, and has covered the home furnishings industry for most of her journalism career. She is the Executive Editor, Design, of Designers Today; in addition, she also serves as the Managing Editor of HFN and Lighting Editor for Home Accents Today. Andrea lives in beautiful Brooklyn, where she could very well be the only person without a tattoo.