Neverblue – one of the most popular affiliate networks online – was featured here at AffiliatePrograms.com on a number of occasions. However, quite recently it wasn’t because of their great commissions, offers, or affiliate programs. It’s because Neverblue went bankrupt.
Well, it’s not exactly that Neverblue itself went bankrupt, but their parent company, Velo. As part of the bankruptcy proceedings Velo had to sell their assets at a bankruptcy auction (which took place on July 31).
In plain English, this means that Neverblue went to the highest bidder. Speaking of which…
Enter GlobalWide Media – a performance based affiliate marketing and internet technology company, and the new owner of Neverblue. The amount of the transaction hasn’t been disclosed yet.
This is what Farshad Fardad, CEO of GlobalWide Media had to say: “We are excited to enhance our capabilities and reach with the Neverblue acquisition. GlobalWide Media’s and Neverblue’s core competencies are highly complementary and will allow the combined company to further accelerate the growth initiatives of both companies, […]”
Interestingly (although not that surprisingly, at the same time), the official press release by GlobalWide Media doesn’t mention the bankruptcy in any way or form.
Something to consider…
Is there something more brewing with GlobalWide Media? Back in June 2012, the powerhouse network publicly announced a very strategic partnership with a network traffic master in the space, Eagle Web Assets Network (EWA). The intent of the partnership: to acquire more market share in the industry and offer a wide array of additional services. Perhaps there really is more than meets the eye with GlobalWide Media buying out Neverblue so close to finalizing a robust partnership with EWA Network. Should affiliates start preparing for GlobalWide Media to dominate the network space?
What Can Affiliates Takeaway?
In the end, this is excellent news for affiliates. With Neverblue’s parent company’s bankruptcy announcement, many publishers chose to stop working with the network all together. Rumors even circled around payment issues, bounced checks and key Neverblue employees leaving.
GlobalWide is not only granting Neverblue a new chance to pick-up in the industry, but now two established, knowledgeable and promising industry giants are joining forces, which is incredibly attractive for affiliates.
(Some of the previous articles to get you up-to-date with what’s the deal with Neverblue: Neverblue Parent Company Files for Bankruptcy, Neverblue To Be Sold at Auction, Neverblue Sold: Steps Affiliates Should Take.)