Have you seen the rise in activity regarding tagvillage? Did you think they would ever release the Ad Platform? Did you think they were dead and burried? Well guess what…tagvillage is about to push the Ad Platform out of demo mode and start making some money.
tagvillage is back!
Many people wrote tagvillage off months ago but now it is starting to gain momentum. It started facing problems in the middle of 2012 when they were hit with a very well organised fraud setup. This effectively stole all of tagvillages money. Despite this tagvillage continued to develop the site at a reduced pace, in the words of tagvillage CEO David Ruebush
We used to have 12 full time developers and a support staff as well. When 100% of our money was stolen from all of us (members included), it really hurt. We had to scale back operations dramatically. We survived though. Development and testing takes a TON of time when you go from 12 programmers down to 1. Bug fixing is even harder.
Another part that suffered from losing the money was marketing. Once again the CEO commented on facebook about it
When tagvillage had a full budget and bank account, we had an aggressive marketing plan. When 100% of our money was stolen from us, we had to make changes. Our marketing plan right now is for me to personally call and work with publishers and advertisers. As we grow, we will set aside funds for marketing and advertising. We are doing what we can with what we have. It is going to be slow and small at first. But we will take each step one at a time.
2013 Tagvillage Recovers
A lot has changed in 2013. Plans have been set but had to be adjusted. Deadlines have not been met but still tagvillage has survived. Not only has it survived it has now made it to the stage that the Ad Platform is ready. Right now it is in a final week of demo mode. What that means is that it is live on the site but money is not being taken from advertisers and commissions are not being paid to publishers and tag traders yet. Once it moves out of demo mode things should progressively get better.
The biggest issue the members have had is withdrawals. In October withdrawals were stopped due to the money that was stolen. It was hoped that they would be able to resume as soon as possible. Unfortunately with less trading leading to less money coming in, the delay in the Ad Platform being finished and lack of any capital coming in, tagvillage had to leave withdrawals closed.
With pressure on there was every chance that tagvillage would fold. There was one good thing that came out of the issues, new fraud detection systems that tagvillage developed. David Ruebush explained it like this;
I hope we can get trading back up where it used to be. I will do everything I can to gain your trust back in our little company. It was devastating when we realized all your money had been stolen from us. Most of our inside management and ownership actually pushed for us to file bankruptcy and shut down. I did not agree. I feel we owe it to our members to live through this. I know someone out there is holding all our member’s money. They are evil losers who stole our funds. However, they did not steal our passion. They did not take away our ability or our potential. We survived. We have a better system now. We can move forward.
Yesterday, our system detected 2 fraudulent credit card charges at 5:01 AM. We froze the accounts immediately and began working to find the truth (was it theft or real). At 6:34 PM I personally spoke with a 22 year old college student in New York who was in tears. She couldn’t pay her rent or electricity bill because a loser somewhere in the world had stolen her identity and ripped off all her money from her bank. tagvillage detected it and reported it immediately to PayPal. Her bank was astonished when WE reported it to them BEFORE her. We got her refund to her immediately. Other businesses where the loser thief used her card may take up to 60 days to get her refunded. We had her money back to her in 12 hours. Our anti-theft system is amazing. We were forced to build this because some losers stole all our money (and yours) back in 2012 in a very complex fraud system. So, while they stole our money, they ignited a fire inside of me to overcome, win, and build a better system. Now, it is time to sell and get all our money back and bunches more!
So the question is now what happens?
tagvillage have had to adjust plans trying to do the best for the members as well as ensuring that the company can continue to operate. To this end in January it was announced about the changes coming in April. Bonus Credits being introduced and the restart (see post here). This was necessary to do and actually returned a full amount of credits to members. Although this helped a lot it still did not solve the biggest issue, there was still more credits in the system with no money to back it up (due to the stolen money).
This meant that there was no way to be able to implement withdrawals without seriously limiting them. A new plan was needed and the initial idea was to freeze members credits so that all new credits were able to be withdrawn. Some members that were made aware of this voiced that they would prefer to be able to use the credits to trade. It was found that this was a viable option and in August that is what will happen.
The big benefit for all members is that they will be able to withdraw, without limits, any regular credits they have. The way it will work as described by the CEO;
Your existing Credit balance will be converted into Trade-Only Credits on the 1st of August. Then, as we can afford to do so, we will convert them back to normal credits over time. It is the best solution we could come up with to get this system restarted and growing again. This allows tagvillage to be 100% payout ready for new members. It also allows tagvillage to be able to payout all advertising commissions for all members. In addition, it allows us to make full payouts to existing members when they sell their Tags to members who have regular credits.
The money that you have in your account was stolen from you by the people that conducted a massive credit card theft on our company. So, the only way we can overcome this is to recoup it over time from operational profits. I truly wish I had some way to find the band of thieves that stole your money and recover it for you, but I cannot. The only thing I can do is to stay fully engaged and committed to working every day for you. I am calling on advertisers and publishers now every day. We are making some sales every day. It won’t be long before we are getting things moving forward better and better each day. Then, we will make your accounts whole again. I assure you I will work tirelessly until we overcome this. A band of thieves stole your money from you in a very complex credit card fraud ring. Even though they did much harm to you, I will work tirelessly to make your tagvillage investment whole and profitable. I promise you that.
Can tagvillage really get Publishers and Advertisers?
That is going to determine the success or failure. The Ad Platform is a great product, although it does not have all the great features yet, and it will be attractive to both Publishers and Advertisers. The key will be marketing it to get them joining so revenue can grow. This will in turn mean that the tag traders have trading credits converted to regular credits faster which they can withdraw. Marketing is the key.
We need funds. We had our entire financial situation destroyed last year with the credit card theft. So, we are rebuilding. However, I will tell you we are already gaining publishers and advertisers. And, we have several waiting in the wings as soon as we pull out of demo mode. There are just a few glitches left in the system which we expect to resolve this week. Then, it is 100% sell sell sell. I actually have come up with a good way to contact publishers and advertisers. I have been using it now for a few weeks and it works well. I plan to host a webinar soon and show TagTraders how they can get publishers and advertisers to join and target their Tags…
Along with withdrawals there has been news about the Millionaire Club and Founders Profit Pool. Although both will not begin in the short term they are still there and will provide members that took part with rewards that they deserve.
This is probably the best time for people to join tagvillage. The bad times have passed and now the future looks bright. There is still work to be done and it will not be super fast growth. Instead it should be expected to start slow and gradually build up. Members should take advantage of the opportunities they are presented with. Now is the time you should check out tagvillage again.