The four-year-old company, known for social media-friendly lifestyle content, had more than 12 million Facebook fans and a docket of hugely popular video series.
But, all that was no match for Facebook's news Feed algorithm. The social network's recent *algorithm update had proved "catastrophic" for the publisher, giving them no choice but shut down after deals with potential buyers for the company fell through, *according to a memo from the company's CEO.