A lot has been said about Entrecard's 'paid ads' since it was adopted by Graham Langdom a few months back. It was supposed to complement the 'cashout program' by generating enough cash to sustain it for a few months or so.
However, the growing movement towards promoting EC paid ads only has spurned many advertiser to doubt the effectiveness of the program and made them think twice about utilizing its advantages. There are still some who are willing to pursue this mode of promoting their sites or products, but it was obvious that a stand still has been reach with no side willing to take a compromising position.
Hence, it was not at all surprising that the new management (Ziprunner Inc.) took it upon it self to make this contentious issue one of their very first agenda after taking office last week. Their official statement on this reads:
However, the growing movement towards promoting EC paid ads only has spurned many advertiser to doubt the effectiveness of the program and made them think twice about utilizing its advantages. There are still some who are willing to pursue this mode of promoting their sites or products, but it was obvious that a stand still has been reach with no side willing to take a compromising position.
Hence, it was not at all surprising that the new management (Ziprunner Inc.) took it upon it self to make this contentious issue one of their very first agenda after taking office last week. Their official statement on this reads:
Dear Entrecard Members,
My name is Cindy and I am the new Director of Business Development for Entrecard. I will be representing the Entrecard team in future posts and will be relaying information about new Entrecard changes and updates to users. I am excited to be working for Entrecard and look forward to reading your opinions and comments about Entrecard services.
We are making great progress with the transition and have come up with several ways to refine needed Entrecard services. I would like to inform you about two important changes.
Effective immediately, we will no longer accept applications for 'paid ads' on your widget space. Based on user comments and blog posts, users have not been happy with the 'paid ads' that was implemented a few months ago. Although a good portion of the revenue (75%) is given back to the users through the 'credit cashout program,' we have found that most users would prefer not to have 'paid ads' on their widgets at all. As a result, we have decided to eliminate 'paid ads' on your widget. We are no longer accepting new 'paid ads' and any ads currently in the system will continue to run until they are completed.
Second, we have received many user requests to redeem credits for cash through the 'credit cashout program.' Some users have been paid while many users have not. Since we are ending the 'paid ads' program, we are also eliminating the 'credit cashout program.' As promised, we will continue to pay as many users as we can with the remaining funds from the 'paid ads' system. Within the next 3 days, we will distribute the remaining funds from the 'paid ads' to users on a first-come, first-serve basis. Once these funds run out, we will reissue credits back to those users who applied for the cashout program but did not receive money. An email notification will be sent out to our users.
We understand that eliminating the 'credit cashout program' may upset some users. However, Entrecard is actively developing ways for Entrecard users to use, sell and trade their credits. This is on the top of our priority list.
Once again, we feel that ending the 'paid ads' and 'cashout' program will benefit Entrecard and its users in the long run. We understand what your concerns are and we intend to address them. Thank you for being a valued member. Stay tuned for updates.
Cindy Ung
Director of Business Development
Entrecard
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