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MundoMedia goes bankrupt - owes $25 millions to a bank. (13)

04-16-2019 01:12 PM #1 matuloo (Legendary Moderator)
MundoMedia goes bankrupt - owes $25 millions to a bank.

I've heard some rumors in the past days, but it's official now. MundoMedia is going bankrupt, and they owe a hefty sum to the Royal Bank of Canada: $25.000.000 ... and who knows who else is owed money too.

It's really sad to see one of the most known affiliate networks to go under like this

The "funny" thing is, they blame this on Facebook's crackdown on fake accounts:

“The company has been experiencing declining revenue in the past year as a result of, among other things, increasing scrutiny on the online advertising industry and Facebook's deletion of over 1.5B fake accounts, which has reduced the activity that leads to revenue generation for the company.”
Running BH stuff on Facebook is getting harder, no doubts about it, but producing a $25 mil debt suggest more problems than just that... poor management and some kind of a royal fuckup comes to mind for example. Who knows, maybe we will get more info abot what went wrong with them, but for now they're toast...

More info here: https://insolvencyinsider.ca/filing/mundo-media/

04-16-2019 01:54 PM #2 vondutch (Member)

I don't know if people still get money from Mundo but expect not to get paid. I have roughly 3000 USD open with them, not much, but I noticed my AM didn't knew anything either. He couldn't help on this point besides saying "I will try my best but it's out of my hands".

So better prepare yourself for not getting paid !

04-16-2019 02:41 PM #3 thepinkcat (Senior Member)

If I'm reading that link correctly I think they owe more. This is the quote(emphasis mine):

owed approximately CAD $43.6MM and USD $25.7MM
I first thought maybe that's a foreign conversion rate but $25,700,000 USD is only about $34.3MM CAD, and the writeup specifically says "and" which might lead one to assume they owe money in both currencies.... amounts that would total about $70MM CAD or $60MM USD. I sure hope that's not the case and it's unfortunate news either way.

I haven't run them in a few months but I do know friends who were running and really stinks they will not be getting paid. Met a lot of good people from Mundo too, fun bunch. RIP

04-16-2019 03:08 PM #4 manu_adefy (Veteran Member)

Quote Originally Posted by thepinkcat View Post
If I'm reading that link correctly I think they owe more. This is the quote(emphasis mine):



I first thought maybe that's a foreign conversion rate but $25,700,000 USD is only about $34.3MM CAD, and the writeup specifically says "and" which might lead one to assume they owe money in both currencies.... amounts that would total about $70MM CAD or $60MM USD. I sure hope that's not the case and it's unfortunate news either way.

I haven't run them in a few months but I do know friends who were running and really stinks they will not be getting paid. Met a lot of good people from Mundo too, fun bunch. RIP
They have the wrong numbers on the page. The documents show only about $43k CAD.

04-16-2019 03:29 PM #5 thepinkcat (Senior Member)

Ahhh ok thnx for the clarification!

04-16-2019 04:23 PM #6 twinaxe (Senior Moderator)

Check this one



For me it still looks like CAD$43,6k and USD$25,7MM

04-16-2019 04:41 PM #7 dragoshsd (Member)

Would also be on the lookout for any networks that brokered offers from Mundo

04-16-2019 10:33 PM #8 matuloo (Legendary Moderator)

Different sums are mentioned at different sources, but most of them still name the 25 millions... really not sure what the final sum is going to be, but I doubt they would go into trouble for owing a couple K's, that's nonsense. It's gotta be more ugly than that.

04-16-2019 10:41 PM #9 eurosen (AMC Alumnus)

How does anyone let things get out of control like this?

04-17-2019 05:26 AM #10 William Yang (Senior Member)

Need the truth behind the bankrupt!

04-17-2019 09:38 AM #11 matuloo (Legendary Moderator)

Quote Originally Posted by dragoshsd View Post
Would also be on the lookout for any networks that brokered offers from Mundo
Ah yes, this could be another problem

04-17-2019 04:02 PM #12 gritaction (Member)
MundoMedia goes bankrupt - owes $25 millions to a bank.

Once a bank calls loan, all other banks will do the same at the same time. GG

04-17-2019 10:01 PM #13 manu_adefy (Veteran Member)

Quote Originally Posted by twinaxe View Post
Check this one



For me it still looks like CAD$43,6k and USD$25,7MM
Yes, 43k CAD not 43m CAD The USD amount was correct. That's what I meant, it's not just for 43k, haha. But it's not 60m+ either.

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