Since my latest cheque from adbrite bounced and they departed the industry leaving nothing but an Error 404 on their website I have been monitoring twitter for people who have lost out to adbrite. A number of advertisers have contacted me stating that the failed company is still trying to take money from their cards and are unable to cancel the service since the site is down and no one responds to their support queries. Although no one else has reported their latest cheque from adbrite bouncing several publishers have contacted me to relate the fact they have not received their payouts since December – and some are owed several thousand pounds in unpaid earnings. Again any attempts to contact adbrite for the last two months have gone unheeded.
I have attempted to contact adbrite for an explanation but have received no response. Many are calling their means of exiting the business bad practice at least and fraudulent at most. The fact they closed the site down so abruptly on the 1st February 2013 and left both advertisers and publishers in the dark regarding the status of their accounts is only testament to the depth of their financial problems. It is clear to me they have no money to pay their publishers – so it begs the question – where, exactly, did that investment from Sequoia Capital go? I am sure the founders of adbrite never found themselves out-of-pocket from the company’s failure. Unlike their publishers who face losing unpaid earnings to the tune of several thousand pounds or, in my case, facing bank charges for their bounced cheques.
Shameful adbrite, truly shameful.