The parent company of popular YouTube outlet Smosh has closed its doors with immediate effect.

Defy Media was home to Smosh, an American entertainment group with 23 million YouTube subscribers. Defy also housed a number of other channels, including Smosh Games and Clevver.

“Regretfully, Defy Media has ceased operations today,” the company said in a statement.

“We are extremely proud of what we accomplished here at Defy and in particular want to thank all the employees who worked here. We deeply regret the impact that this has had on them today. Unfortunately, market conditions got in the way of us completing our mission.”

New home

Smosh co-founder Ian Hecox tweeted that the outlets are currently seeking a new home. He also said that the company "has been enjoying record numbers lately, and this closure won’t stop us". 

An executive from news channel Clevver also tweeted about the closure, stating that it was also looking for a new home.

Defy Media was founded ten years ago as Break Media. In 2011, the company was acquired by Alloy Digital. Defy oversaw the production of over 75 YouTube series', across channels with a combined following of over 40 million.

The company's Los Angeles office will close in January.

An important message: pic.twitter.com/qMlXrI2v2O

— Ian Hecox (@SmoshIan) November 7, 2018