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San Francisco-based online interior design services startup ‘Modsy’ has closed its operations without making any public announcement or completing the pending orders.
Many customers have now left with unfinished renovations and project orders in process.
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Modsy was founded in 2015, but all of a sudden it came to an end. The company has fired its designers and left its customers in clutter, reports TechCrunch.
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However, The startup has returned payments to its customers who paid in advance for services 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.
Modsy has deleted its Twitter and Facebook pages and made its Instagram account private. Although, its main website is still operational.
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 entity and the customers will be notified on next steps on how to address their needs,” Tellerman added.
Companies like TCV, Comcast Ventures, Norwest Venture Partners, and NBC Universal invested in the company.
Modsy got its last funding in May 2019, which escalated its total valuation to $72.7 million.
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