It was a little more than a year ago that AGLOCO was launched with the promise that users would be able to “Own the Internet.”
In reality, it was a load of MLM hype built around the AGLOCO Viewbar, described by the company as “a small software platform that allows users to capture the value they create on the Internet.”
Well, it looks like there weren’t enough lemmings creating value, because the scheme is imploding, based on an e-mail sent out earlier today with the subject, “AGLOCO Update Notice.”
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 firstname.lastname@example.org .
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
Lots of comments on TechCrunch about the collapse of AGLOCO.