We run a high traffic website and we were approached by Ology Media last year. They wanted to take over our ad inventory and offered some pretty decent CPM rates. At first I was hesitant to sign because of payment terms (NET-90, they canged it to NET-120 later) and lack of reviews online. However, after doing some research, the company seemed legit and with experienced people on board. As other forum states:
We did sign with them in the beginning of 2011. The revenue went up and we were happy with it. The first payment was one month late, but we didn't suspect anything at first. By summer 2011 they started having some issues and the payments would come a bit later or they would send partial payments. Autumn and winter was particularly painful as they sent little to no payments and communication was really bad - you never knew who you should contact as there were layoffs and the team was changing, they left us completely in the dark. To their credit they did send "a good faith payment" on November, which did catch up with their debt, even though not all the way thought. They did not send any payment December -- a non payment is an awesome Christmas gift. On January they changed our terms to NET-120, but even assuming NET-120 they still owed us money. They did send a couple of partial payments in February and March in amounts way smaller than they actually owe.
Numerous lies (like "we will send a payment next week", "we will catch up with you on second week of January" and so on) would happen so often, I stopped believing everything they say. After doing some searching and contacting other publishers, I've learned we are not the ones being lied to. I found at least a dozen of people claiming Ology owe them 4 or 5 figure each (with $25,000 being the biggest figure I found posted publicly online).
I've also learned they owe their employees. Looks like the company is in deep trouble. With complete lack of communication, I can only speculate. They may be going for bankruptcy for all I know.
Currently they owe us $15,000 (around $20,000 outstanding) and they haven't sent a single payment for two months now. Nobody would respond from accounting. I have called them, the girl on the phone said she will get someone to respond soon, but nobody has fallowed up with us. I'm going to call them next week, but it's getting tiring after fighting with them for half a year already.
Ology also wanted us to sign a document prohibiting us from posting about Ology Corp online. They even went as far as threatening to not pay us if we don't sign. We didn't sign, so here it goes - our review is online.
Moral of the story: don't put your eggs in one basket, especially if it's a company you've never heard of.
We did sign with them in the beginning of 2011. The revenue went up and we were happy with it. The first payment was one month late, but we didn't suspect anything at first. By summer 2011 they started having some issues and the payments would come a bit later or they would send partial payments. Autumn and winter was particularly painful as they sent little to no payments and communication was really bad - you never knew who you should contact as there were layoffs and the team was changing, they left us completely in the dark. To their credit they did send "a good faith payment" on November, which did catch up with their debt, even though not all the way thought. They did not send any payment December -- a non payment is an awesome Christmas gift. On January they changed our terms to NET-120, but even assuming NET-120 they still owed us money. They did send a couple of partial payments in February and March in amounts way smaller than they actually owe.
Numerous lies (like "we will send a payment next week", "we will catch up with you on second week of January" and so on) would happen so often, I stopped believing everything they say. After doing some searching and contacting other publishers, I've learned we are not the ones being lied to. I found at least a dozen of people claiming Ology owe them 4 or 5 figure each (with $25,000 being the biggest figure I found posted publicly online).
I've also learned they owe their employees. Looks like the company is in deep trouble. With complete lack of communication, I can only speculate. They may be going for bankruptcy for all I know.
Currently they owe us $15,000 (around $20,000 outstanding) and they haven't sent a single payment for two months now. Nobody would respond from accounting. I have called them, the girl on the phone said she will get someone to respond soon, but nobody has fallowed up with us. I'm going to call them next week, but it's getting tiring after fighting with them for half a year already.
Ology also wanted us to sign a document prohibiting us from posting about Ology Corp online. They even went as far as threatening to not pay us if we don't sign. We didn't sign, so here it goes - our review is online.
Moral of the story: don't put your eggs in one basket, especially if it's a company you've never heard of.
