There will be some shouts and curses, but it has more or less become a forgone conclusion. This e-mail sent out to Agloco members today only serves to diminish any flickering hope that some are still clinging to.
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 .
Surprise? Not really. If it was a viable operation I don’t think they will have problem with financing. So many companies are wiling to invest millions and millions into Net ventures. Even the so-called “pariahs of the blogosphere” (as described by Techcrunch) were able to secure financing by the millions. I’m waiting for John Chow’s view on this.
The internet is so big there’ll bound to be success and failure stories along the waay.
A least Agloco admit to their problems.
-Mike