Agloco is Finished

Agloco, the company which was going to pay users for browsing the internet, sent an email to users today that mentioned, “revenue is not enough to support operating costs” and “we are unable to continue to use our savings to fund the operations”. I commend them on trying the idea the second time after failure, but you sure need to know when to quit. Guess that point is now. They never paid any money out and it’s pretty said they are publicly offering to give up operations. Anyways, where is the email in its entirety:

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 .

We would like to thank every Member for supporting our effort to bring a piece of the Internet directly to the user. We hope that we can find a way to keep the operations going.

AGLOCO Development Team

TechCrunch is now reporting as well, and has a little more information.

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