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Do you remember AGLOCO?

R.I.P.

Last year they promised to be the best thing since sliced bread.

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Their hype made the notion of Agloco, huge payments and easy money go viral.

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There was a time when almost anyone with a website would promote them via their referral link.

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“Here lies Agloco”

“She promised much, but always failed to deliver”

Where are Agloco now?

Agloco began at the end of last year in a blaze of publicity, created by hyping up the viewbar and the potential benefits to those that use it and refers others to it. Whilst it costs nothing to sign up with Agloco, many people have invested large amounts of time and even advertising dollars into gaining large numbers of referrals.

Ten months later and no-one has received a payment yet (except, perhaps, some of the bloggers who ‘passionately support’ Agloco and have promoted it from the beginning to their readerships?).

So far, Agloco has lost over $100,000 (June - August) and predicts a further loss of $10,000 - $15,000 in September.

Last month, Agloco partnered with Ask.com, one of the smaller search engines on the internet.

R.I.P.

Payments

For many months there has been no concrete news on when or if payments will be made or how much they will be. That has now changed.

The official Agloco blog has finally given an indication of how much people will earn through their surfing hours and those of the people that they referred -

June $0.48 per hour - ($0.0040 per month for 120 months)
July $0.42 per hour - ($0.0035 per month for 120 months)
August $0.54 per hour - ($0.0045 per month for 120 months)

On the face of it, those rates look quite reasonable, especially if you have referred a large number of others who are using the viewbar. However, Agloco say all payments will be made over a 10 year period. If they start paying next month then you will not finish receiving the money you are owed for the first months until the end of the year 2017!!

Say, for example, you have racked up 200 hours of surfing time. Based on the figures above, you will get paid 80 cents per month for 10 years - is it worth it? How much will 80 cents be worth in 2017?

What’s more, there is still no certainty that payments will be made any time soon - Agloco will only issue funds once they are generating a positive revenue which they are obviously not doing at this time.

R.I.P.

Shares

Another appeal of Agloco was the suggestion that members would be able to take shares in the company. This too looks like it is unlikely to happen now.

The official blog now talks of a scheme that will allow it’s members to trade hours with each other. I do not know the law on such an issue myself, but it would seem like this move will prohibit the exchange of hours for shares in some countries, and so Agloco is considering dropping the share issue option altogether.

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Conclusion

The payment plan would suggest that anyone who is a solo surfer will earn a negligible amount of money which will then be paid over a 10 year period. This assumes that Agloco makes a profit in order to make payments and that the individual has earned any minimum payout requirements.

I would conclude that, without a large number of referrals, the earnings will be minuscule and will not be a fair level relative to the amount of time and effort put into earning it.

Those who got in early and signed up thousands of referrals may make a modest income from the efforts of those at the bottom of the food chain.

Verdict : ”PYRAMID SCHEME” ?

R.I.P.