hope you got PAID before this happened... (24)
NeverBlue has filed for bankruptcy.
http://performinsider.com/2012/04/ne...or-bankruptcy/
"According to reports this is specifically because of enormous losses sustained from re-billing and continuity practices."
I just read that too.....not sure what to say other than wow.....
Have no idea how it will effect NB/AKMG but money is money.....def watching this one closely
According to my affiliate manager, "Neverblue is not part of the filing this will not impact Neverblue’s business or our ability to work with you in any way. That Headline is sensationalized and we’ve asked Pace to adjust to reflect the true situation."
Yet you'll still have the same group of idiots running huge volume to them and then when they go the way of Copeac they'll whine about it indefnitely in a 32 page forum diatribe. "Ohh dur they went bankrupt but I still ran huge volume because my AM who is on their payroll said it's okay, now they owe me 3 months of backpayments I'm gonna sue them but I don't have the balls to hire an attorney so I'm just gonna talk shit on WF"
/rant
Worrying times if Neverblue is feeling the strain.
Where to head to next? Commission Junction?!
Hmmm that ain't cool.
seems like most of the networks that were mighty a few years ago are either going or already gone...
copeac, azoogle, neverblue.. who's next
bidding starts now on the CPA network death pool
Just saying what my aff manager said to add more context to the post. I'm not saying I always believe everything he or any of my other affiliate managers tell me!
I think the Neverblue company itself is doing very well. I believe it's the Vertrue company that caused the bankruptcy. In any case, both of them are owned by Velo Holdings. Maybe Marty can chime in the situation. Marty??
Originally Posted by invisible777
It's business as usual for Neverblue. We were the only property of vertrue that was making money, and continue to do so. The only difference for us today is who owns us. We still make money, and are going nowhere in this industry.
Repeat: BUSINESS AS USUAL TODAY AND GOING FORWARD!
Hell, we have our biggest contingency ever at ad:tech, had record month with mobile, and are still hiring. Neverblue isn't going anywhere, and are in good shape going forward.
Marty
Eve Belanger - Neverblue’s parent company, V2V Holdings LLC and its U.S. subsidiaries, today filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code. Neverblue was not included in this filing. V2V intends to use the Chapter 11 to restructure its balance sheet and ensure the long term financial health of key businesses.
This filing will not impact Neverblue’s ability to meet client needs in any way – we intend to continue to operate business as usual without interruption. Neverblue’s business is fundamentally strong and we intend to make all affiliate payments on schedule, in a timely and reliable manner. We’ve built out our global, performance-based online marketing strategy across several unique verticals, and now operate one of the largest international cost per action networks. Neverblue is absolutely well-positioned for future growth as one of the most highly-valued lead generation companies.
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Neverblue are one of the rare networks I trust with their word. I run with them, I will continue to do so.
Hi Gang, to echo Marty it is biz as usual. Neverblue wasn't included in the filing and its actually a good thing for us in the long run.
If you have doubts, pm me
Michelle Reid
Network Manager, Neverblue
skype: michellereid.ca
Chill y'all. If it is the parent company that filed and not NeverBlue then NB as an asset would be sold off to pay the parent company's creditors, assuming they go into receivership. It all depends on timescales and creditor pressures. Normally it would either be sold or liquidated, unless Velo can sell off other assets or raise cash another way eg. layoffs. Liquidation would not make sense unless the parent company cannot sell it or NB is not profitable (unlikely lol), so all we can do is wait and see..
Chapter 11 gives Velo time to restructure, so I would expect to see them selling off assets as we speak. Would think the judge would not approve Chapter 11 unless they made a good case they could fulfill their obligations so atm I would look at this as more than a little sensational, at least that is my understanding.
I would not suggest driving any leads until this is resolved tho - companies in trouble will try to grab all the cash they can.
Would be good to get some authoritative input on this as NB is one of the go-to networks.. do we know if Velo have made any announcements?
Never mind, just found this - "Velo said it plans to auction two segments, its health insurance sales and lead generation businesses, while restructuring the credit and identity theft protection and retail businesses. Barclays Bank PLC, which holds the first-lien loan, will credit bid $80 million for the insurance business and $20 million for the lead generation business, Velo said."
Guess NB is up for grabs!
I made my very first dollar online with NB and Samantha, Marty and Eve have always been completely honest with me.
So no need to worry guys.
/Staffan
There shouldn't be any concern about driving leads. Neverblue is not part of the filing and this will not impact Neverblue's business. Our money is our own andwe fully intend to make all payments on schedule in a timely and reliable manner as we always have.
If you have any doubts, pm me.
Michelle Reid
Network Manager, Neverblue
skype michellereid.ca
Plus Pace Lattin is a sensationalist douche nozzle and this shouldn't be taken at face value at all if it's coming from his blog.
Originally Posted by Mr Green
Sent from my iPhone using Forum Runner
Pace?
Originally Posted by joshtodd
Ooo NB for sale? Would be interesting if they sold the asset, wonder what it would go for 
Originally Posted by joshtodd
Fair play to him for putting his own spin on news, but I'd place as much trust in his work as I do in a british tabloid. It still boggles my mind that he has the cheek to take the industry high horse after some of the skits he's pulled.
Originally Posted by Smaxor
as someone that is a CTA or CFA... talk to one of them for an opinion on this... remember in the 80's when companies were 'sliced and diced' all the time. some did better some died.
Originally Posted by harrypotter
Originally Posted by bangkokbaby
This is an old article about their main business model: http://www.washingtonpost.com/wp-dyn...600160_pf.html
In the language of this forum, they had a campaign, scaled it like you wouldn't believe for as long as they could run it, and now that they can't run it anymore, they're moving onto something else (the owners, that is...the company is dead).
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