Beautycon Comes to Ugly End: CEO Moj Mahdara Out, Website Dark, Assets Sold in Foreclosure (Exclusive)

Richelieu Dennis’ Essence Ventures has taken over the media darling plagued with financial trouble and layoffs

Beautycon, the L.A.-based company known for live events for budding fashionistas and beauty brands, has come to a less-than-beautiful end, with the website offline, co-founder and CEO Moj Mahdara gone, all staffers laid off and its assets sold off to Richelieu Dennis’ Essence Ventures in a foreclosure sale, TheWrap has learned.

According to one insider with knowledge of the company, Beautycon is no longer “an operating vehicle.”

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Beatrice Verhoeven, PWS

Beatrice Verhoeven

Film Editor, Twitter: @bverhoev