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2006-01-04, 02:54 AM | #1 |
I'm the only guy in the world who has to wake up to have a nightmare
Join Date: Feb 2004
Location: London, United Kingdom
Posts: 1,895
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Sinbucks Sites Redirecting (Closing Down)
I'm seeing all Sinbucks sites redirecting to afternic.com and going to their webmaster page they have:
11/27 - SinBucks Set To Shut Down Due to wishing to pursue other interests, SinBucks and all of its related websites will be shut down. All the join pages have already been deactivated and new members are not being processed. I would like to thank you all for the hard work and dedication that you put towards SinBucks. You will be paid on time and in regular form. Don't recall any email from them, and searching the board looks like no-one else has, so you may want to go through your links and pull those out. |
2006-01-04, 01:12 PM | #2 |
Certified Nice Person
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I always wonder why these programs just shut down instead of selling. I realize that often it's due to content licenses not being transferable, but why not sell the sites and affiliate backend so that the new only has to purchase content and feeds?
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2006-01-04, 02:25 PM | #3 |
Banned
Join Date: Aug 2003
Location: Mohawk, New York
Posts: 19,477
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Useless
If you have a program that runs for a few years, there is much more money in just shutting down the affiliate program and collect the recurring without having to pay webmasters. I'm not sure if this is what sinbucks is doing but, that is a reason to not sell. And, most affiliate program owners thing their program is worth much more than it really is. For example, Ultracash was supposed to be sold for $10 million. It was never sold and through my thieving partner's actions, processing was shut down since he stopped paying the hosting bill and the sites were taken offline. Originally that was our plan. He wanted to get out of the business and Sparky and I wanted to stay. We tried to talk him into letting us run the sites but things were afoot. We were supposed to collect our percentage of the recurring but I was cut out. And, I believe Sparky never saw a dime from it either. I know my 20% of several thousand members recurring for a few years was worth quite a bit of money. |
2006-01-04, 02:28 PM | #4 |
Banned
Join Date: Aug 2003
Location: Mohawk, New York
Posts: 19,477
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So, the question is, are the members still recurring on sinbuck's sites? If so, that is a perfect reason not to sell off the sites and program.
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2006-01-04, 02:29 PM | #5 |
Selling porn allows me to stay in a constant state of Bliss - ain't that a trip!
Join Date: Apr 2003
Posts: 3,914
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They must have made so much money that they don't even have to think about mundane details as liquidating their property.
Ya think? |
2006-01-04, 02:48 PM | #6 | |
a.k.a. Sparky
Join Date: Sep 2004
Location: West Palm Beach, FL, USA
Posts: 2,396
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He takes his 75%, pays 53% tax, which is greater than your 20%, which means you are making more out of it than he is and he 'made' the company. And if I recall, the offer was $12.5m USD. And by the way, the math doesn't work. I guess the fetal position while sitting in a corner is not what gets the check written.
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2006-01-04, 02:54 PM | #7 |
Wheither you think you can or you think you can't, Your right.
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Or mundane details like letting affiliates know...
ronnie |
2006-01-04, 03:09 PM | #8 | |
Banned
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2006-01-04, 03:11 PM | #9 |
Banned
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I also remember him being offered almost $1million for the domain name, freepictures.com but thought it wasn't enough. He was just such a brilliant businessman
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2006-01-04, 03:24 PM | #10 | |
Progress rarely comes in buckets, it normally comes in teaspoons
Join Date: Jun 2005
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2006-01-04, 03:35 PM | #11 | |
Banned
Join Date: Aug 2003
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2006-01-04, 03:41 PM | #12 |
a.k.a. Sparky
Join Date: Sep 2004
Location: West Palm Beach, FL, USA
Posts: 2,396
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An affiliate program (at least the 5 sales I have seen in the last year) generally is lucky to get 3x monthly gross anymore. Letting things spool down, dealing with the less frequent customer service requests, pocketing the cash until it gets to a point where it can be shut down usually results in more income in the program owners pocket.
One of the few times where Future Dollars are worth more than Present Dollars.
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2006-01-04, 04:33 PM | #13 |
Aw, Dad, you've done a lot of great things, but you're a very old man, and old people are useless
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this is why i am always weary to promote new/small/lesser known sponsors. i'd really like to but who wants to risk losing their recurring? or the 100's of links out there that you would need to change if they go down.
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2006-01-04, 04:48 PM | #14 |
If you don’t take a chance the Angels won’t dance
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The lesson here is take the PPS and run
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2006-01-04, 05:20 PM | #15 |
Nobody gets into heaven without a glowstick
Join Date: Feb 2005
Posts: 423
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Do they run sinhost as an affiliate free host does anyone know? I had an affiliate today that thought a domain was with our freehost, but the nameservers were sinhost. Could help solve a mystery, Scoob. Jinkies!
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PimpRoll |
2006-01-04, 05:39 PM | #16 |
I'm normally not a praying man, but if you're up there, please save me Superman!
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I would think most affiliate programs could fetch at least 12 months gross, especially an established one with decent excusive or non-exclusive sites.
Then again I'm not selling nor buying programs so what do I know! |
2006-01-04, 09:24 PM | #17 | |
Certified Nice Person
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Quote:
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Click here to purchase a bridge I'm selling. |
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2006-01-05, 02:02 AM | #18 | |
Are you sure this is the Sci-Fi Convention? It's full of nerds!
Join Date: Dec 2004
Location: The U.S.A
Posts: 267
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And as to SinBucks, I signed up with it wayyyyy back when Mr. Mitchell from Mojohost owned it. I never really promoted it though because the niche on the sites were already oversatured.
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2006-01-05, 02:17 AM | #19 | |
Eighteen 'til I Die
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I am not going to get into a pissing contest about pps but my numbers on the average length of a subscription do not indicate that is the route for an affiliate to take if he is dealing with a trusted sponsor. Now keep in mind that I know nothing about analyzing numbers. |
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2006-01-05, 02:53 AM | #20 | |
Progress rarely comes in buckets, it normally comes in teaspoons
Join Date: Jun 2005
Location: Dark Side Of Naboo
Posts: 1,289
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Sinhost is a hosting company aka mojohost. All my nameservers are still sinhost. I wish it was free |
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2006-01-09, 11:34 AM | #21 |
Rock stars ... is there anything they don't know?
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Hello Everyone,
Just returned from Vegas and picked this up on Boardwatcher so I wanted to stop by for a point of clarification. I apologize, firstoff, because this is one of the webmaster boards where I emailed a long time ago to change my username from 'SinEmpire' to 'Brad Mitchell' and the request just never got fulfilled. Long story short - I sold SinBucks a long time ago to a new owner and FatBaby and I both trained and supported him as long as was needed. His decision to persue other interests a few months ago led to me purchasing the assets back. I did confirm to the best of my abilities that final webmaster payouts were done. What I have now are simply the domain name assets. All portions of the actual sites and program have been shutdown and any remaining recurring members were cancelled some time ago. To make sure there was no confusion about my interests in these assets, they are simply listed on Afternic - not at all redirected to any other traffic program. I took an interest in repurchasing the assets primarily out of my own stubborness. The idea that if the person I chose to sell it to wasn't going to run it anymore than I would simply assist in a graceful shutdown and reclaim the domain names for possible but unprobable future development. I really did not want the program to proceed on to a third owner, potentially one that I did not know, because of any association or confusion that might result from it being a 'Sin' property which was obviously my previous brand name. I am regretful that the program did not continue under the new ownership but did have enough involvement post-purchase to see that the affiliates who were sending traffic were being taken care of properly. At the end of the day, it was a very low traffic program that never came into it's own. Best of luck to everyone- Brad |
2006-01-09, 02:13 PM | #22 |
Life is good
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Brad, good to see you posting and clearing things up a it. It's too bad those guys didn't send an email out to people to let the affiliates know.
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2006-01-09, 02:47 PM | #23 |
Rock stars ... is there anything they don't know?
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I was told that the affiliates sending traffic and making sales from the months preceeding the shutdown were notified by email. This would have been an email to dozen or so people receiving checks regularly but not the other thousand webmasters that were not sending traffic. The proof of that, really, is that when it was shutdown there were only a thousand or two thousand hits daily to all of the web sites from all sources including the SE traffic that the sites were getting. Anyways, I am dissapointed that things did not work out but still pleased that everyone was paid appropriately.
Brad |
2006-01-09, 02:54 PM | #24 | |
I want to set the record straight - I thought the cop was a prostitute
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Partners are a huge pain in the rear end Edit: But even thought I might get flamed for this ... a program that changes hands even once is a program to be avoided at all costs... at least until they build their rep back over 1-2 years.
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IW skype blance8888 icq 15567120 Last edited by LB; 2006-01-09 at 02:58 PM.. |
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2006-01-09, 03:08 PM | #25 | |
Banned
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