Online interior design startup Modsy shuts down, lays off employees
Online interior design services startup Modsy has quietly shut operations and several customers have been left with unfinished renovations and project orders in process.
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San Francisco, July 18 Online interior design services startup Modsy has quietly shut operations and several customers have been left with unfinished renovations and project orders in process.
San Francisco-based Modsy has abruptly ceased offering design services, laid off its designers and left its customers in disarray, reports TechCrunch.
The startup returned some service order charges and promised to refund furniture deliveries to those who filled an online form.
"But more than two weeks later, tweets show that many Modsy customers are still awaiting updates," the report said late on Sunday.
Apoorva Govind, Founder of BesteverApp, tweeted on Monday: "I'm so disappointed that Modsy is shutting down! It was one of my favorite services when it comes to interior design!! I'm so bummed. Their 3D design software was top notch."
"Me too! And countless others who have orders pending with Modsy," another user posted.
According to the report, while the company's website remains operational, Modsy has deleted its Twitter and Facebook pages and made its Instagramaccount private.
Modsy's Founder and CEO Shanna Tellerman told TechCrunch that "capital constraints and uncertain market conditions forced the company to cease operations on July 6 and lay off all employees".
Modsy's assets were acquired by a "new entitya and the customers will be notified on next steps on how to address their needs," Tellerman added.
The investors in Modsy included 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 $72.7 million, according to Crunchbase.
