In other news, I called this early:
For you guys who don't know already, Mode Media was the company formerly known as Glam Media. It was essentially an advertising agency/publisher hybrid that subcontracted to a network of bloggers. It was once valuated at a ridiculous $1B. I don't know that much about that much, but I do know that you need have essentially the entire world to be reading your stuff for your network of blogs to be worth $1B.