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AdScholar Refutes Bankruptcy Rumor
Written by Joshua Smith
During the past few weeks, online advertising-related forums have been abuzz regarding claims that AdScholar may, after only a short lifespan, have expired. Supposed quotes from company representatives suggested that AdScholar Publishers Inc had been scarred by bad debts, and forced into filing for bankruptcy protection under Chapter 11.
According to the company, whose GianStitial popunder technology sought to increase publisher revenues and advertisers' returns on investment by increasing the probability that a popup window will load in full before being closed, these rumors contain little truth. Please find following a quote sent to me via email by AdScholar's Jamie Palmer:
The parent company AdScholar did not file for bankruptcy. On April 2, 2001 AdScholar Brokers, inc filed bankruptcy, a sister company of AdScholar. This does not effect and will not effect any publishers as the company which handles all publisher relations, AdScholar Publishers Inc, has not filed for bankruptcy and has appropriate funds to cover all payments. While it is true that some publishers have had payments withheld due to violations of our terms and services and have been properly notified, all other payments have been made on time. Slight problems have caused some international publisher to see a delay in payment. Rest assured that anyone who is due money will be paid, and will continue to be paid for their services.
AdScholar has made it a practice to collect all payments upfront from advertisers that want to show ads within our "publisher" network. Those advertisers that were trusted "public .com companies" that wanted to do large buys and be billed through the standard 30 day net were ran though a standard credit check and shown through our "broker" network. Our "broker" network does not have ongoing contracts, and is NOT related to our "publisher" network. Our "broker" network ran under AdScholar Brokers, Inc, were made up of brokers who were willing to take limited ad space at limited cost for a limited time. These "brokers" also agreed to receive payment when we received payment.
Publishers that have concerns regarding their account should email me direct. I belong to the parent company and not the sister company AdScholar Publishers Inc. I can handle all inquiries on the corporate level to calm any and all nerves. The parent company, AdScholar, reported revenues of just over 34 Million for last year. We have the money to pay the bills, and keep the lights on. Publishers are vital to the success of our company and are a major focus to us. I will answer any questions you may have if you simply email us.
The email address is email@example.com.