The Dollar Factory

Agloco bites the dust

News around the blogosphere today are that AllAdvantage wannabe Agloco was more successful than originally expected. Just like AllAdvantage, the stupidest implementation of an online business model, which burst in flames during the first dotcom bubble, Agloco is about to close its doors having paid nothing to the people who joined the program hoping for overnight riches. According to an email sent to some members and was posted on TechCrunch, here is how the Agloco dream is going to play out in its final days,

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.

This company is so lame that they don’t even use an email address relating to their domain! I feel sorry for all those people who spent money on PPC campaigns to try and sign up as many people as possible in hopes of a huge payoff in the end.

Browsing the comments posted on the last entry of the official Agloco blog (here), one can tell that things were not going well for the company since early October. People were being frustrated that the company would not update them on payment information, and I guess now, they all know why.