After only a few weeks of existence, Modo, a wireless service that sent free entertainment information to users via an egg-shaped wireless device costing $99, has suddenly shut down after its principal investor, Idealab, decided not to pour further funds into the operation.

Modo was launched in Manhattan last month by San Francisco-based Scoutelectromedia, whose ads for the service are still prominently displayed on bus shelters and phone booths, the New York Post reported today (Thursday). The Post also said that plans were underway to launch the Modo service in Los Angeles, Chicago and San Francisco; however, the online entertainment publication Inside reported that it had already started up in those cities and that in fact a party is scheduled for tonight (Thursday) at Les Deux Cafe in Los Angeles to celebrate the launch in that city.

Source: Studio Briefing