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Zango files for bankruptcy :)

Discussion in 'Affiliate Programs' started by User_Online, Apr 23, 2009.

  1. #1
    Zango closes shop, investors lose big

    ADOTAS — After raising $150 million in debt and equity financing and integrating five mergers and acquisitions over the last decade, the online media shop that provided free downloads of games, music and other content in exchange for the ability to serve ads is no more.

    (via peHUB) According to some detailed blog posts by co-founder and * CTO Ken Smith, Zango got in trouble by screwing up its distribution, financing its acquisitions with too much debt, being unfairly charged with affiliate commission stealing and failing to deliver adequate value in exchange for the advertisements. There were also accusations of illegally installing software.

    On the positive side, according to Smith, Zango made some great acquisitions, including LoudCash, Hotbar, and SmartShopper, and developed a unique and innovative business model. The company also had great employees and culture. That will mollify the investors.
    SEMrush
    The shut-down included a “fire sale” of its assets to search startup Blinkx, according to Smith. I still have a phone call out to the company for comment.

    Zango shut its shop in Tel Aviv January, so problems were on the horizons, 51 Zango employees were affected by that closure. In June, Zango laid off 75 workers, 20 of whom were based in Israel, blaming the grim economic climate on the firings.

    UPDATE: According to ComputerWorld, a Blinkx spokesman said the firm had purchased some of Zango’s assets and that Zango was shut down after its bank foreclosed on the company.

    Source - http://www.adotas.com/2009/04/zango-closes-shop-investors-lose-big/
     
    User_Online, Apr 23, 2009 IP
    SEMrush
  2. Seqqa

    Seqqa Well-Known Member

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    #2
    Lol gutted, good job I dont use them then.
     
    Seqqa, Apr 23, 2009 IP
  3. tguillea

    tguillea Active Member

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    #3
    I HATE Zango!
    Ding-Dong, the witch is dead!
     
    tguillea, Apr 23, 2009 IP
  4. multibam

    multibam Greenhorn

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    #4
    It was due time. This only proves that it's better to promote honest business models...
     
    multibam, Apr 23, 2009 IP
  5. topcash

    topcash Peon Affiliate Manager

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    #5
    Zango is not dead. Try not to believe everything you read on the internet.
     
    topcash, Apr 23, 2009 IP
  6. kidsko

    kidsko Peon

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    #6
    it was either zango or zongo which have a malware which goes along with them somehow. i could be completely wrong, but if you look at some virus definitions you might see what i'm saying
     
    kidsko, Apr 23, 2009 IP
  7. multibam

    multibam Greenhorn

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    #7
    Zango for sure. I believe both hotbar and seekmo (produced by zango) was defined as malware by most anti-virus software....
     
    multibam, Apr 23, 2009 IP
  8. DrEMiami

    DrEMiami Peon

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    #8
    zango used to serve kiddyporn in there bar when they were 180solutions

    butr yeah dont believe for a second theyre gone... blinkxx is probably just their new company name with the same people pullingthe strings... zangos been like 5 other company names before it was zango
     
    DrEMiami, Apr 23, 2009 IP
  9. bluearrow

    bluearrow Well-Known Member

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    #9
    So what about their affiliates ? If they had this kind of problem have those affiliates got paid in past few months ?
     
    bluearrow, Apr 23, 2009 IP
  10. ICanDoIt

    ICanDoIt Peon

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    #10
    Good news today! Does anybody know the banks which lent Zango $44M?
     
    ICanDoIt, Apr 24, 2009 IP
  11. the_borrower

    the_borrower Peon

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    #11
    adotas link is unavailable
     
    the_borrower, Apr 24, 2009 IP
  12. multibam

    multibam Greenhorn

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    #12
    Works for me. Anyway, try this one:

    Zango goes bango, CEO bankrupt

    http://seattletimes.nwsource.com/html/technologybrierdudleysblog/2009109821_zango_goes_bango_ceo_bankrupt.html

    ...or try searching Google News for Zango...
     
    multibam, Apr 24, 2009 IP
  13. KarimR

    KarimR Guest Affiliate Manager

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    #13
    Here is up to date info:

    On Thursday, April 16th, 2009, certain assets of Zango Inc, including ZangoCash, were purchased by Pinball. Pinball is taking these assets, and, with approximately 60 former Zango employees, is rebuilding and reshaping a new business. Pinball a is well-funded, healthy company with millions available to expand our business.

    What does this mean for ZangoCash? BUSINESS AS USUAL. You make installs, we pay for them. The more you make, the more we pay. Same rates, same dates. Look for more tools and content in the future.

    Thank you for your patience during this transition, we look forward to a continued prosperous partnership with you.

    The ZangoCash Team
     
    KarimR, Apr 24, 2009 IP
  14. Final Verdict

    Final Verdict Peon

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    #14
    So pinball is the name now, I've never been a fan of Zango for all the pc trouble they've caused threw the years.
     
    Final Verdict, Apr 24, 2009 IP
  15. bluearrow

    bluearrow Well-Known Member

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    #15
    At least thats a good new for those Zango affiliates.

    .
     
    bluearrow, Apr 24, 2009 IP
  16. jonas18

    jonas18 Active Member

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    #16
    Now i realized what happened to my account two months ago. They close my account with my money for no reason, when i contact them asked them why i can't login, they re-activated my account but with no money in it. I stop using it. 2 days ago i just got paid the money that they owned me.:)
     
    jonas18, Apr 24, 2009 IP
  17. hostinghelp24

    hostinghelp24 Banned

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    #17
    Personally I don't like Zango.
     
    hostinghelp24, Apr 26, 2009 IP