The assets of Mode Media, a once high-flying women’s lifestyle digital media company that crashed into bankruptcy oblivion last year, have been acquired by BrideClick, an ad network catering to the wedding industry.
Terms of the deal, negotiated through a blind auction conducted by a firm representing Mode Media’s creditors, were not disclosed.
New York-based BrideClick plans to merge Mode’s assets — including some of the 100,000 archived pieces of content from Mode.com — into a new company, to be renamed Glam Inc.
“BrideClick has a passionate team with a track record of building long-term partnerships with bridal bloggers, social-media influencers and advertisers,” said chairman Henry Chamberlain. “Glam.com provides us with the opportunity to launch into other content areas and cater to a wider audience.”
Mode Media Shuts Down: Women-Focused Digital Player Once Valued at $1 Billion
Mode Media abruptly shut its doors and laid off its entire staff last September after failing to secure additional capital. The company, founded in 2004 as Glam Media, had raised roughly $225 million — and was valued at one point at around $1 billion as the company geared up for an IPO that never happened.
The intellectual property acquired by BrideClick includes the domain names Glam.com, Mode.com, Foodie.com, Bliss.com, Brash.com and Tend.com, along with videos and other content and Mode’s property ad-serving technology. The deal did not include Mode Media Japan, which relaunched earlier this year under the auspices of a new investment group and leadership team that includes Samir Arora, founder and ex-CEO of Mode Media.
As Glam Inc., the company will expand its scope into new categories including fashion, beauty, food, parenting, and health and wellness, according to Chamberlain. BrideClick currently has 10 employees and plans to double headcount by the end of 2017 as it relaunches Glam.com this fall, director of operations Marisol Perez said. The company is searching for an editor-in-chief to run Glam.com, and plans to hire other editorial, sales and technology staff.
BrideClick was founded in 2010 by former media buyer Manny Ben-Or and has worked with clients including Kleinfeld Bridal, Allure Bridals, Men’s Warehouse, Apple Vacations, Cayman Islands, Shutterfly, and Crate and Barrel. The company’s consumer-facing brand, BridalPulse, aggregate feeds of content contributors.
U.K. native Chamberlain, prior to leading the financing for BrideClick, had launched wedding-planning site OurWeddingDay.com, which he subsequently sold to bridal-apparel chain David’s Bridal. BrideClick is backed by individual investors and hasn’t received any venture-capital or private-equity funding. The company is profitable, Chamberlain said, and isn’t looking for additional financing as it prepares to relaunch as Glam Inc.