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Posted today on performinsider.com…

A recent announcement from FX Partners Network, or FXPN, has confirmed that they will be ceasing all operations. The FXPN notified their affiliates about the termination of this network. FXPN is a retail Forex and IB affiliate network, which was developed by Leverate in 2012. The idea was to interface some Forex broker’s brands with affiliate marketers to help promote the business.


One of the reasons this network is shutting down is that it was based on a marketing solution provided by DirectTrack Affiliate Software Technologies. The customized platform is no longer going to be available as of March 2014, which apparently left FXPN without a viable alternative, or at least one that they felt was feasible with their business.


This may have something to do with the fact that DirectTrack’s business was acquired by CAKE. Cake is a software-as-a-service platform, and is now offering a turnkey solution for DirectTrack’s clients who did want to replace the existing service.


The affiliates who were a part of the FXPN can now choose to work directly for the brokers that they choose. Many of these brokers who were part of the FXPN will continue to work with the affiliates, but now in a more direct way. What type of impact this will have on affiliates, or the broker brands themselves, has yet to be seen.


The brands that made up this network included ForexBrokerInc, CaesarTrade, GCMForex, GCM Asia, Fxlider, NetoTrade, AstonForex, ForexTradition and Whichway.


You can read more about this closing, and the companies involved with it, HERE.


What do you think about this announcement? Did you have any dealings with the FXPN? Pleas share your comments below.

http://drivetrafficgetpaid.com/174/

Adknowledge Closes Publisher Network

In a move to change the strategic focus of their AdStation platform Adknowledge has effectively shut down their Affiliate Network. As of September 30th, traffic was discontinued and all Affiliate accounts were terminated. Much like with the closing of the Google Affiliate Network it doesn’t mean that Adknowledge is going anywhere but it does leave Adknowledge Affiliates looking for a new Network. – See more here

Scott Advertising

It’s reported that Scott Advertising and it’s owner Rich Morgan has been avoiding payments of more than $40,000 to publishers since March. STAY AWAY!

LeadCola Frauds & shuts down

It appears as though after many rounds of being accused or allegedly scamming and frauding affiliate offers, Leadcola has shut their doors and is no longer doing business.

Here is an article from Performance Insider

EWA Closes It’s Doors…

As posted on their blog, EWA has shut it’s doors. Here you can read the full post from Ryan Eagle about the closure.

First off, I would like to personally apologize as truly and honestly as I can for everything that EWA Private Network has put our publishers through these past months. It’s been a turbulent road for my company and it’s taken quite the toll on me and the staff around me. Believe it or not, I care about the reputation of my company I care about the publishers in my network – it burdens me daily to see what has happened. We incurred massive losses due to non-paying merchants, combined with internal problems lead to a situation which needed an outside investor to help resolve.

I spent upwards of a year seeking individuals and companies to invest into EWA and the entire process of finding an investor was draining on me – I was lead on and let down many times. Unfortunately, our most recent investor possibility ended up falling through leaving EWA with no other options. We have decided that it’s time to close our doors while we continue to seek a new investor to take over the company. Meanwhile, we will be working with a restructuring agent to liquidating our receivables and sell our assets in a way to repay outstanding payables.

Leaving EWA Network on a note like this was the absolute hardest choice I’ve made in my business career. I gave it my absolute 100% best and tried the hardest that I could, spending hours a day trying to make this company the best that it could be. Running EWA Network for these past four years and interacting with the thousands of EWA affiliates has been one of the best experiences that I’ve had, and I’d like to apologize once again to all our clients for the situation that we were put in.

Finally, I would like to apologize to our staff – especially the account managers, international partners, and our network manager on the front lines everyday. They were put into a situation where they were at the mercy of the companies problems. I accept the blame fully for it, and I want nothing that happened to the company reflect onto their shoulders because they did the best they did with cards they were dealt. When we thought the investor was coming through, I told them to pull – and when we were left empty handed, they were the ones to take the blame. They were the lifeblood of our company and I appreciate every minute they spent making EWA great.

Good luck in the future Mr. Eagle.


Follow up on Epic Advertising…

As we previously reported, Epic Avertising has stopped paying it’s publishers and it appears as though it’s inevitable that just like so many other companies lately, they too will be closing their doors soon.

Here is some more info from a press release coming from Adknowledge

“Epic Media Group’s Affiliate Division, formerly known as Azoogle, has reportedly stopped paying publishers; and Adteractive announced that they would be closing their doors without fulfilling their financial obligations to publishers.”

NeverBlue files for bankruptcy…

As reported by the Performance Insider, Neverblue and their parent company are filing for Chapter 11 bankruptcy. Although they are not directly affected by this, they are listed as an asset or the parent company, Velo Holdings, Inc. Here’s the good and the bad of it as reported by The Performance Insider…

The Good News
Neverblue, from all accounts, is a highly profitable company in itself and has a strong business model. As they pointed out in their response, the company itself is not included in the bankruptcy protection, so they are able to pay all their affiliates on time. That’s the good news, which means that for the time being, you are going to be paid.

The company has been a strong company for many years and continues to be a great part of the industry, service their affiliates, and most importantly has always paid on time.

The Bad News
However, despite this, things are not so simple. Even though they are not “included” in the Bankruptcy, there are a ton of issues that will come up that will affect the future of the company. The idea that Neverblue is not going to be affected by it’s parent company’s issues is incorrect. They are owned by that company, and are subject as an asset of the company.

Since Velo Holdings owns Vertrue, which in turn owns Neverblue, the future of the company is in the air and may be for sometime. This means that anything could happen to the company, including it being sold in order to pay the debts of the parent company. We will not know for a long time what will happen to Neverblue, but more than likely they will be sold in the future, depending on how their parent company restructures. If Velo is not able to restructure this could mean additional issues. It will be up to the courts to determine this.

Click here to read the legal docs filed

COPEAC Shuts Their Doors

As reported by The Performance Marketing Insider, COPEAC has officially shut their doors.

COPEAC and IMMI Interactive (fka Intermark Media) have begun the process of shutting closing their business. According to several insiders, they have been unable to pay debts to affiliatesand publishers for some time after facing significant financial issues.   Rumors had been surrounding for the last few months that this was going to eventually happen.

COPEAC has been a major CPA network in the affiliate industry, gaining vast support by affiliates since its inception in 2005. Reviews of COPEAC until this year, were almost universally amazing, with affiliates loving their affiliate support and relationship with the founders. Intermark Media, which last year became IMMI was founded in 1999 and had become one of the most recognized companies in the industry.  The founder, Mike Krongel had been one of the most recognized members of the industry.

However, in May 2011, the Federal Trade Commission announced a significant action against Intermark Media and COPEAC, claiming that they were behind a plethora of fake news sites that promoted diet and weight loss products.  This, combined with revelations that the company was affiliated with Tim McCallan, already a questionable figure didn’t fare well for the company.

Unfortunately for the company, while dealing with the enormous legal bills of having to defend itself from an FTC lawsuit, it was alos hit with a patent lawsuit by infamous patent trolls, Essociate. Recent rumor on message boards pointed to the company being virtual bankrupt and unable to pay bills or affiliates. It seemed to many that the company was headed for an inevitable downfall.

It sure didn’t take them long to shut the site down…

 

EpicDirect “delaying” payments…

It’s been reported that Epic direct is now telling affiliates that their payments may be “delayed” a bit and blaming it on their payment systems. Hey Epic…print out a check and send it. Need help fixing your printer? I’ll be right over to take a look at it!

Here’s a quote posted by someone to whom they owe, “Epic Direct now 7 days unresponsive concerning October revenue – $10,000 owed”

Shame on you Epic.
Looks like those Mansion parties wiped you guys out.

iGain Affilaite Network

Sounds to me like this is Apple’s new attempt at taking over the affiliate industry, but guess again. iGain is the newest brainchild of Michael Giacopassi who started iGain approx 2 weeks ago. iGain claims to be “The next generation of performance-based affiliate marketing network, delivering solutions to both advertisers and publishers.” Don’t all the networks out there say that?

But don’t worry, they’ve got “Industry leading weekly payouts” and “High value, high converting offers” just like everyone else.

So if you need another affiliate account to keep track of, zip on over to their site and sign right up. You too could say you were one of their first affiliates.