After stiffing publishers on money owed from its programmatic business, Defy Media, which operates popular YouTube brands such as Smosh and Clevver, shut down Tuesday.
It's unclear exactly what prompted its closure, but the digital media company had been dealing with money problems. Back in June, Defy opted to close its programmatic business after failing to find a buyer. The move left many publishers some of which were owed as much as $40,000 unpaid.
After closing its programmatic business, the company had hoped to pivot its attention toward its digital content creation business. Obviously, that move never panned out.