AGLOCO Bites the Dust?
From the looks of it, AGLOCO seems to have gone out of business.
Their web site has been down for days (the site is currently done, and according to the most recent cache that Google has of their index page, they were down on December 1st as well) and their SSL certificate expired on November 18th, and hasn't been renewed.
Is anyone really surprised? This was AllAdvantage 2.0, a site that famously flamed out a number of years ago. AGLOCO stood for A Global Community, and now it stands for absolutely nothing.
The business plan of AGLOCO was: you would install a "Viewbar" that would sit at the bottom of your browser, and you would get a share of the income that the Viewbar earned. In true MLM fashion, you would earn a % of the money generated by people that you referred to the network, and in turn you would also get a % of the revenues of the people that were referred by the people that you referred, all the way down to four levels. Also, AGLOCO was going to pay you to surf the web (in good old AllAdvantage style) up to a total of five hours per month.
AGLOCO also said that you would receive shares in the company, as well as cash. They claimed that they were going to be a 100% member owned company, with the management keeping 10% of the total revenues generated by the members, and the other 90% of revenues being distributed based on how many shares you held in the company, which would be determined by how many people that you referred to the network.
The amazing thing to me is how many prominent and well-respected members of the "blogosphere" actually bought into the business plan hook, line and sinker. John Chow used to have breathless updates, talking about how many members that he had referred; he had gotten all the way up to 21,000 referrals before he stopped reporting on the company. Steve Pavlina was another high-profile blogger who was touting the company.
Anyone with half a brain could see where this company was going, and it amazes me that so many people were hood-winked. All of those referrals, all of that hype within the blogging world, and not one dollar has been paid out.
Looks like AGLOCO is toast.
Filed under: General Knowledge