SnapVertise - Bankrupt but send us traffic

I

imbo55

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Apr 3, 2010
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Seriously these affiliate network :conehead: 's get funnier by the day.

Good Morning, Afternoon, Evening,
This email is going out to all Affiliates associated with SnapVertise to express our sincere apologies for the lack of communication there has been between SnapVertise and yourselves. Due to the length and detail of this letter, I would like to suggest reading this email carefully and in detail. Further into the letter, described are options on how we can work together to ensure past due balances are received.

As most of you know, we have run into a cash flow problem. Initially, the problem started when a couple of very large, and at the time, reputable networks stopped paying their bills. At first SnapVertise had a 3 to 6 month “Safety Cushion” for incidences such as these so that we were still able to pay Affiliates. However, inevitably after such a long period of time and the large amounts not paid by the networks in question, this “Safety Cushion” was depleted.

In the following months, the main principle of the company fell into fairly extreme personal health issues that resulted in an extended absence. In the absence of our team leader, SnapVertise failed to have any direction, discipline or communication. This resulted in Advertiser’s slow paying their bills or failing to pay at all. Essentially, this created a snowball effect and we were unable to pay our own Affiliates.

This is where our communication to Affiliates would have been essential. Unfortunately, we took a different route by trying to formulate a plan whereby our Advertisers would make their required payments and as such SnapVertise would have the means to pay Affiliates. This plan of action was soon found to be unrealistic as we depend on our Affiliates valued traffic to achieve the necessary cash flow.

Now to be brutally honest; SnapVertise could take the easy way out and declare Bankruptcy, which would result in no one getting paid. However, having experienced being an Affiliate myself I am fully aware of the consequences to small and even large affiliates when a Network does not pay. This is not what SnapVertise is about, nor is this what we want for our Affiliates unless forced too. We would like the opportunity to make things right for everyone involved.



Our plan of action to pay past Affiliate balances:

Some of the Principles of SnapVertise also own other web properties and businesses. They have agreed to push their profits from other properties into SnapVertise to cover Affiliate payments. This WILL take time as these properties were highly tied to the SnapVertise marketing distribution network and as such cash flow dropped in line with SnapVertise.
Use positive cash flow from the SnapVertise CPA Network to fund past Affiliate balances. (This is highly contingent on us being able to generate Affiliate business again.)
Affiliates can take advantage of what we (for lack of a better name) have called the “Full Rate Program.” This is explained in more detail later on, but essentially it takes our margin/profit on offers and credits a past Affiliate balance. (This may be the fastest method for individual Affiliates to have their past balances paid)
To be clear, we want to avoid giving out false hope that past balances will be up to date in a timely fashion, with certainty. The truth is, we are unsure how long it will take to cover past affiliate payments in full. However, the point of this letter is to show you we are not running away and will do our best to ensure affiliates are paid!

Furthermore, here are a few of the options the SnapVertise Team has to offer (We know they are less than ideal but this may be the best and only way to do right by our affiliates)

First off, all CURRENT traffic sent by affiliates WILL be paid for in full and on time. In order for this plan to work, we need cash flow. In order to have cash flow, we need affiliates pushing offers now rather than later. Previous affiliate balances will be covered by oldest to newest according to our cash flow levels and the current level of activity from affiliates. It is our hope that our other principle properties will achieve the revenue levels of early 2012 and if so, we could potentially pay the outstanding Affiliate balances within months.

Another option we are offering is something called the “Full Rate Program.” This means that for the Affiliates with outstanding balances SnapVertise will pay out 100% of the offers being pushed. As such, our normal margin will be paid out to the affiliate’s past due owing balance with SnapVertise. For example if an offer pays $1.60 and SnapVertise is being paid $2, the affiliate will be paid the full $2. $1.60 paying for the current traffic being sent and $0.40 will go towards the outstanding balance. To submit offers you want full rates on, follow the instructions here.

If you have any further PRIVATE questions regarding this matter that have not been addressed, please email: balance@SnapVertise.com. Also, for more information regarding the strategies in place to ensure affiliates are paid please request access to the active support section setup called The Affiliate Balance Resolution Forum. Questions that others might be interested can be asked PUBLICLY there as well. Follow the instructions here to gain access.

Furthermore, if you would like to send traffic to an offer at the full rate as part of the “Full Rate Program,” and receive 100% Offer rates, please follow the instructions found here.

Last but certainly not least, I want to tell you that I KNOW this is not an email of good news and new hope, but it is honest. I hope you can appreciate our willingness to be honest with you and know that we will be doing everything possible to rectify this situation, including communicating on an above satisfactory level. In short, our goal here at SnapVertise is to have all Affiliates paid in full along with what we hope is a worthwhile bonus.

We thank you in advance for your time and consideration, kind regards,

Sean Sutherland & The SnapVertise Team
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1) start CPA network
2) broker 90% from a big, "reputable" network
3) don't get paid by that network
4) ??????
5) send us traffic or we'll declare bankruptcy
 
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OH SNAP!!!

Fuck This SHIT. CCarters-I-Aint-Paying-You-Shit-CPA-World.info Affiliate Network is on my to-do list for 2013.

This is beyond retarded. 3-6 months of Safety Cushion... This whole industry is a fucking joke. I can't re-iterate that enough. Go Direct, fuck these peasant brokerage networks.

SNAP - WHY THE FUCK Would you keep running traffic from advertisers that weren't paying? Are you fucking telling me, ONE person leaving, meant NO ONE was in charge? NO ONE? No COO? NO CMO? NO one realized, holy shit... uh... we should probably pull the non-paying advertiser's offers. After the first 30 days, you would have been safe, since you have 3-6 months of reserves.

Does ANYONE at these affiliate networks know ANYTHING about risk management? What about the fucking CFO? What the fuck was he doing? The fucking CFO's job it to make sure the financials/money is in fucking order. Was there even a fucking CFO? One person leaves and the whole fucking place falls apart. Talk about a house of Fucking Cards.

In other news, I just secured an investor for CCarters-I-Aint-Paying-You-Shit-CPA-World.info.

Carry the fuck on....
 
Jeez if I got this longwinded explanation that I had to read through in addition to these dudes not paying me i'd be prettty pissed.
 
CCarter, pursuant to the WIA Freedom of Information Act you are hereby requested to provide source for the fine specimen displayed in your signature as of January 25th 2013 9:18 PM EST. Failure to comply will result in negative SEO drone strikes.
 
This is essentially the Affiliate version of begging for a bailout. Sure, we're practically on the edge of bankruptcy and might not pay you anyway, but til then can you send some more traffic our way so that when we do crash and burn at least we'll do so in style. Thanks!
 
Well at least they're up front about it and have a way forward.

As opposed to lying about payments ("you didn't get the wire yet???"), claiming to personally fix problems ("just email me!") on public forums and then.. not paying, trying to sweep issues under the rug ("Everything is fine! just keep sending us traffic!") and lying about a bailout ("I have an investor lined up, you will get paid").

Actually, the last one may be true. I don't have an account on either network btw.
 
CCarter said:
Does ANYONE at these affiliate networks know ANYTHING about risk management?
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Yes, in fact some do. You just don't hear from them because risk management means avoiding problems so big that you get into negative cashflow situations.

CCarter said:
This whole industry is a fucking joke. I can't re-iterate that enough. Go Direct, fuck these peasant brokerage networks.
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No offense to you CCarter, because I know you are simply echoing a common enough sentiment, but that is a bullshit statement.

There are CERTAIN ELEMENTS of this industry that are a fucking joke. These elements use a "style over substance" method of attracting business, but don't have the experience, the knowledge or in some cases the interest in backing up their style with sound business practices.

What's an even bigger fucking joke is that there are a ton of people who fall for the flash and who fall for the "anything goes, let's stack paper and fuck bitches" attitude. Then they come to boards and vent their anger when they wind up losing their money. But they could have avoided the whole situation had they done a little research before investing their time and money.

I know some might reply and think I'm pointing out a single individual. That simply isn't true. I wish it were true, then our entire business wouldn't be tagged with statements like "this whole industry is a fucking joke". But this same scenario happens over and over again.

Truth is, 90% of this business is legit. But the bullshit that comes out of the remaining 10% seems to get 90% of the attention.

/rant
 
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