AGLOCO Run Out Of Money

December 11th, 2007 • Related • Filed Under

Filed Under: Blogging • Everton

Tags: AGLOCO

Well it may come as no surprise to many of you that AGLOCO are struggling, and are trying to raise money to keep the service running. I received the following email in my inbox yesterday:

Dear Everton,

We would like to update you on the status of AGLOCO’s operations. We continue to believe in the AGLOCO concept, but our revenue is currently not sufficient to give Members a meaningful distribution. And though there are increases in membership, the resulting revenue is not enough to support operating costs. As a development team we are unable to continue to use our savings to fund the operations. If any Member would like to pursue continuing the operations of AGLOCO, you may contact us at agloco1@live.com.

We would like to thank every Member for supporting our effort to bring a piece of the Internet directly to the user. We hope that we can find a way to keep the operations going.

AGLOCO Development Team

Surprise surprise.

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About the Author

Everton is based in London and has worked in the internet and mobile space for over ten years now, and before that worked in corporate strategy and consulting. He has a degree in Economics from Cambridge University, and currently runs the Portal and online operations for one of the largest ISPs in the UK. He also writes for Windows 7 News.

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There Are 9 Responses So Far. »

1. #1
   

   Comment by Joseph Plazo on 11 December 2007:

   Im not surprised. This services was as placid as a dead marsh
2. #2
   

   Comment by Jalaj on 11 December 2007:

   It seems that they did not invest sufficient initial funds… or otherwise they could have at least managed the operating costs and may not have said “not enough to support operating costs”
3. #3
   

   Comment by Serg V on 11 December 2007:

   If service can not make money is dead. And such request for donation is very similar to scam
4. #4
   

   Comment by Sergio on 11 December 2007:

   @serg v
   thats true.
   one more dead company
5. #5
   

   Comment by Free Articles on 12 December 2007:

   Really at the beginning also I had this doubt. It was strong when they complete 10 lacks memberships. because if they pay $1 to everybody, they need $10 lacks for one months 120 lacks for an a year. How could they find this much money at the initial stage or first few years.
6. #6
   

   Comment by Degree on 13 December 2007:

   I quit the service early on. Like blogrush, nothing came out of it!
7. #7
   

   Comment by Micah on 13 December 2007:

   I’ve got to admit, I wasn’t surprised to hear about this. It’s a great idea, but after months of hearing absolutely nothing about them, I figured things must be going pretty bad for them.
   I remember making a few bucks with their original AllAdvantage…those were the days.
8. #8
   

   Comment by Jalaj on 14 December 2007:

   I read somewhere new signups are still on… in case they cannot pay why are they promising anyways
9. #9
   

   Comment by Mark from Bloglyne on 7 January 2008:

   I wonder if anybody will be able to get this sort of concept right enough for it to be able to sustain itself…

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