The most difficult aspect of being a freelancer is that nothing is ever certain. What worked yesterday may not work tomorrow. Money and jobs that were promised to you may never materialize. Commission rates may change overnight. Or, an ad/influencer network you’ve partnered with may declare bankruptcy, which is exactly what happened today with Mode Media. According to The Wall Street Journal, Mode Media shut its doors effective immediately.
A memo circulated at Mode saying “that for the last five months, it had been ‘actively and continuously’ seeking financing or an acquisition and believed its efforts would not be successful if employees were told.” Their funding attempts apparently failed and the Mode Media bankruptcy became public knowledge earlier today.
It should be noted that while Mode Media has filed for bankruptcy and has apparently told their employees, they have yet to reach out to the thousands of content creators and ad hosts in their network.