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Author Topic: Revostock closed the store with No payments to contributors  (Read 27022 times)

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« on: October 20, 2015, 14:09 »
0
Unfortunately, there is never a good time to end a business, especially one that has been around
almost 10 years as RevoStock has. I started RevoStock in 2006, excited about bringing the
microstock idea to the world of video. Along the way, Revo brought many firsts including the
first site to succesfully ofier both audio and video, the first site to sell Alter Eflects Templates
and the first site to offer FlexFile custom encoding. We stayed a small company but were able to
grow fast in spite of the fact that we did not have any outside funding.

However, staan in 2012, our struggle with a Patent Troll (a company that buys or acquires
broad patents they can use to sue as many companies as possible) was the beginning of a very
difficult period our small company simply was not able to rebound from. While the lawsuit was
dismissed after 2 years, the scars left from this struggle made it equally difficult to get the
funding we needed to recover and thus continue growing and innovating. Ifyou are not familiar
with the unfair damage Patent Trolls are causing to small companies like ours, I encourage you
to watch John Olivers (HBO) recent piece unmasking the ways Patent Trolls kill small
businesses and stifle innovation.

I am deeply grateful to our talented producers who, following this suit, gave us a chance at
recovery and I am very sorry we were not able to see it through Thank you so much for your
talent. I know how much time, effort and trust you have put into me and RevoStock and while I
labored until the end to deliver a solution, I deeply regret that it wasnt possible. I am also
thankful to all of the customers who have supported us all these years and come to us for your
stock media needs. Thank you so much for choosing us. It has been an honor to serve you and

interact with you. The last few months have been rocky for us and I hope our reputation might
stand on our previous nine years of service.

We are currently working on securing a partnership for both our RevoStock producers and
customers with one of the many other quality media marketplaces that will honor your current
relationship with RevoStock in the best way possible. We will be sending out an email to this
effect as soon as there are more details to be had.

- Craig Lillard (Founder, RevoStock)


« Reply #1 on: October 20, 2015, 15:56 »
+1
Where do they mention the no payment part?

« Reply #2 on: October 20, 2015, 16:10 »
0
Where do they mention the no payment part?

Where do they mention the payment part ?

« Reply #3 on: October 20, 2015, 17:19 »
+1
Where do they mention the no payment part?

Where do they mention the payment part ?

The Subject Topic: Revostock closed the store with No payments to contributors

« Reply #4 on: October 20, 2015, 18:39 »
+4
I'm glad they closed. What pies me off the most is that they kept the site open, taking money from customers and, for * near a year, refused to pay most contributors. That's thievery. Good riddance. Oh, they owed me money too. Never saw it.

« Reply #5 on: October 20, 2015, 21:02 »
+5
Where do they mention the no payment part?

Where do they mention the payment part ?

The Subject Topic: Revostock closed the store with No payments to contributors

I think the question was, where do they (Revostock) mention the no payments, not where do they (Suliman Razvan the OP) mention it.

« Reply #6 on: October 21, 2015, 08:41 »
+4
There is no mention about "no payments" on the revostock weird message.
But these payments have been difficult and rare since months....
A few days ago, I checked my Revo dashboard... +/- 6000$ royalties....
 

« Reply #7 on: October 21, 2015, 09:35 »
+2
There is no mention about "no payments" on the revostock weird message.
But these payments have been difficult and rare since months....
A few days ago, I checked my Revo dashboard... +/- 6000$ royalties....

Wow.

« Reply #8 on: October 25, 2015, 11:42 »
+2
They will not pay.  Craig used the contributors money to keep the site runing or maybe to start a new business. Who knows? Why do they not mentioned payments? Because they need to buy some more time and avoid being prosecuted by some angry contributors. If they wanted to pay us, they would have mentioned it in the site's closing message. They owe me $300,00. And that's means a lot for me in the economic crisis that my country faces.

weathernewsonline

« Reply #9 on: October 28, 2015, 07:10 »
0
They will not pay.  Craig used the contributors money to keep the site runing or maybe to start a new business. Who knows? Why do they not mentioned payments? Because they need to buy some more time and avoid being prosecuted by some angry contributors. If they wanted to pay us, they would have mentioned it in the site's closing message. They owe me $300,00. And that's means a lot for me in the economic crisis that my country faces.

$300,000? Three hundred thousand?  You let it go far to long but now you need to get to a good lawyers office for professional advice on how to proceed.

ShadySue

« Reply #10 on: October 28, 2015, 07:12 »
+10
They will not pay.  Craig used the contributors money to keep the site runing or maybe to start a new business. Who knows? Why do they not mentioned payments? Because they need to buy some more time and avoid being prosecuted by some angry contributors. If they wanted to pay us, they would have mentioned it in the site's closing message. They owe me $300,00. And that's means a lot for me in the economic crisis that my country faces.

$300,000? Three hundred thousand?  You let it go far to long but now you need to get to a good lawyers office for professional advice on how to proceed.
Some countries use a comma instead of a dot to represent the divider between dollars and cents.
« Last Edit: October 28, 2015, 10:59 by ShadySue »

« Reply #11 on: October 28, 2015, 10:17 »
+5
They will not pay.  Craig used the contributors money to keep the site runing or maybe to start a new business. Who knows? Why do they not mentioned payments? Because they need to buy some more time and avoid being prosecuted by some angry contributors. If they wanted to pay us, they would have mentioned it in the site's closing message. They owe me $300,00. And that's means a lot for me in the economic crisis that my country faces.

$300,000? Three hundred thousand?  You let it go far to long but now you need to get to a good lawyers office for professional advice on how to proceed.
I think that is $300 Europe uses a comma instead of a period.

« Reply #12 on: October 28, 2015, 10:30 »
+2
Uk and ireland use comma dot same as us and eu mainland uses dot comma

« Reply #13 on: October 28, 2015, 10:42 »
+1
$300K would buy a lot of microstock companies. ;D

« Reply #14 on: October 28, 2015, 10:57 »
+1
It appears there is no access to the Contributor page that shows how much they owe respective contributors. This is not being handled well at all. I am glad to see them "throw in the towel" - it's been a long time coming, and they owe contributors a lot of money. I sincerely hope they do the right thing and settle up with everyone.

« Reply #15 on: November 01, 2015, 16:06 »
0
How did you get $300 not paid? Usual threshold is around $50.

« Reply #16 on: November 02, 2015, 04:50 »
0
Hello to everybody, revostock also owes me about 4000$ and i think we will never see our money since they closed over night so you can not even downlaod your payment history and nothing from your accaunt. Does anybody knows how can we contact Craig or somebody from revostock or something more about whole situation?


« Reply #17 on: November 02, 2015, 05:59 »
+6
I'm surprised people were making so much money with Revostock.  It looks like they were selling more than I thought.  Can't help thinking why did people let them carry on selling their clips if they weren't paying out?

« Reply #18 on: November 02, 2015, 08:02 »
+2
I think the most people who earned much on Revo were not footage sellers. The most sales at Revostock were After effects templates.

fotorob

  • I am a professional stock photographer

« Reply #19 on: November 02, 2015, 09:34 »
+4
How did you get $300 not paid? Usual threshold is around $50.

Easy: I requested payout for example several month ago, but the request simply has not been processed.

« Reply #20 on: November 02, 2015, 14:57 »
+3
They will not pay.  Craig used the contributors money to keep the site runing or maybe to start a new business. Who knows? Why do they not mentioned payments? Because they need to buy some more time and avoid being prosecuted by some angry contributors. If they wanted to pay us, they would have mentioned it in the site's closing message. They owe me $300,00. And that's means a lot for me in the economic crisis that my country faces.

$300,000? Three hundred thousand?  You let it go far to long but now you need to get to a good lawyers office for professional advice on how to proceed.
I think that is $300 Europe uses a comma instead of a period.

what's the deal anyway: there were TWO ZEROES, another "indicator" (to say the least and leave out the words "total ignorance" on the part of the apparently confused ones here) and making it pretty clear that this is not $300K but three hundred dollars even (as in no cents).

Also, reading and getting the tone of danilo.afx' message might help ;)

Or is everyone here so pre-occupied with their wishful thinking that they "anticipate" numbers like $300K in the first place?!

« Reply #21 on: November 04, 2015, 21:09 »
+5
I also had a large sum in my account (about $9,000). About three months ago, when I was considering pulling my content, Craig paid out $1,000 to me. I saw that at least he was making an effort, which convinced me to keep my content up. Craig and I had been writing back and forth for years. I believe he did everything he could to stay afloat, and in my opinion, there was no scheme to accumulate the money and run. It was definitely frustrating though, because I was getting sales almost every day until the end. It really made me wonder where that money was going, especially since he must have been saving a lot on expenses after letting most of the staff go.

« Reply #22 on: November 04, 2015, 23:04 »
+4
It really made me wonder where that money was going, especially since he must have been saving a lot on expenses after letting most of the staff go.


« Reply #23 on: November 08, 2015, 20:09 »
0
How did you get $300 not paid? Usual threshold is around $50.

Easy: I requested payout for example several month ago, but the request simply has not been processed.
So you had to request the payout? That's not how most of stock media markets work, as far as I know. I wouldn't even sign up there in the first place. BTW this whole Revostock story sounds fishy to me with that statement and the link to the comedy video as a prove.
« Last Edit: November 08, 2015, 20:19 by amperial »

« Reply #24 on: November 10, 2015, 11:41 »
+1
When a company becomes insolvent and its cash revenues are insufficient to support debt and operations, they often seek court-protection. And to do that, they have to file Chapter 11 bankruptcy. When that happens, it sends a serious chill to all stakeholders such as employees, vendors, suppliers, customers, etc.
There are two serious loan deadlines looming on the horizon in 2019 and 2020. So, it will be interesting to see what transpires between now and then.


 

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