Online Interior Design Service 'Modsy' Shuts Down, Lays Off Employees
San Francisco-based online interior design services startup Modsy has abruptly shut operations and laid off its designers, according to a report by TechCrunch.
"Capital constraints and uncertain market conditions forced the company to cease operations on July 6 and lay off all employees," said Modsy's Founder and CEO Shanna Tellerman in a statement to TechCrunch.
According to the report, while the company's website remains operational, its Twitter and Facebook pages have been deleted, and its Instagram account has been made private.
Several customers who were left with unfinished renovations and project orders in process, took to Twitter to express their agony. "Me too! And countless others who have orders pending with Modsy," a customer tweeted.
The startup, however, claims to have returned some service order charges and promised to refund furniture deliveries to those who filled an online form.
Modsy was backed by TCV, Comcast Ventures, Norwest Venture Partners, and NBC Universal.
The startup's last funding round closed in May 2019, bringing its total fund-raise to USD 72.7 million, according to Crunchbase.
Modsy's assets were acquired by a "new entity and the customers will be notified on next steps on how to address their needs," Tellerman added.
