Author Topic: Digital Railroad to follow Photoshelter out the door? (Read 4070 times)

RacePhoto · « **on:** October 16, 2008, 01:41 »

For the past few weeks, Digital Railroad (DRR) has been seeking additional funding required to sustain its current level of operations. To date, those efforts have been unsuccessful. As a result, effective October 15, 2008, the company has initiated a reduction in staff and expenses while it continues the funding effort. Nevertheless, Digital Railroad is committed to the continued support of its customers through this period and has retained adequate staff to support both member archives and image licensing sales through Marketplace.

We will have further information shortly and expect to provide an update to you next week. In the meantime, we are grateful for the loyalty and support that you have demonstrated and thank you for your patience during this transition.

http://photobusinessforum.blogspot.com/2008/10/digital-railroad-likely-being.html

hali · « **Reply #1 on:** October 16, 2008, 10:45 »

you start to wonder, with so many new starter sites and just as often quick in quick out stock sites, are these companies starting up just to make money
and then close down before needing to pay anyone.
it's so easy to do that, and then in a few months , you see a new company start up.

are we contributors being taken ?

cappi · « **Reply #2 on:** October 17, 2008, 10:42 »

Quote from: hali on October 16, 2008, 10:45

you start to wonder, with so many new starter sites and just as often quick in quick out stock sites, are these companies starting up just to make money
and then close down before needing to pay anyone.
it's so easy to do that, and then in a few months , you see a new company start up.

are we contributors being taken ?

Photoshelter has paid me for sales since they have announced closing.

PaulieWalnuts · « **Reply #3 on:** October 17, 2008, 20:48 »

Quote from: hali on October 16, 2008, 10:45

you start to wonder, with so many new starter sites and just as often quick in quick out stock sites, are these companies starting up just to make money
and then close down before needing to pay anyone.
it's so easy to do that, and then in a few months , you see a new company start up.

are we contributors being taken ?

Are sure there are some but Photoshelter didn't give me that impression. They seemed pretty well run. Now, Albumo on the other hand...

graficallyminded · « **Reply #4 on:** October 17, 2008, 22:07 »

I never even heard of digital railroad...with a name like that, it's no wonder they're on their way out.

Albumo is another one I'm glad I never wasted my time with.

RacePhoto · « **Reply #5 on:** November 11, 2008, 20:55 »

Not only gone, but two buyers have looked and backed out. Looks like the servers are going to be erased and sold.

http://www.diablomanagement.com/announcements/digital-railroad-inc.html

As reported on October 31st, Digital Railroad (DRR) had received a letter of intent (LOI) to purchase specific assets of DRR, namely its hardware and application software used to store and retrieve images. This LOI was rescinded on November 5th.

On November 6th, a second company became interested in purchasing some of the assets of DRR, but late on Friday, November 7th this company also ended its negotiations.

Without a commitment for the purchase of its assets, DRR’s senior secured creditor will move to take physical possession of the hardware on which the intellectual property of DRR and the copyrighted images of its customers and partners reside. The creditor will have all information erased from the storage devices and then sell the equipment at auction.

hali · « **Reply #6 on:** November 11, 2008, 21:24 »

Quote from: graficallyminded on October 17, 2008, 22:07

I never even heard of digital railroad...with a name like that, it's no wonder they're on their way out. ..

they got off the tracks i guess

but seriously, with the proliferation of photostock sites, i am sure we will see more casualties.
goes to show that it's easy to call yourself a stock site, but it's something else staying alive.
more so now, since contributors are saying " wait and see before joining". it can all add up to having no one joining at all. without the images, there is no stock photo site.
maybe this could be a good thing , as stock sites will realise that a photo stock without faithful contributors is soon to be like a shopping centre without shop. no shops, no customers.

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Author Topic: Digital Railroad to follow Photoshelter out the door? (Read 4070 times)

RacePhoto

hali

cappi

PaulieWalnuts

graficallyminded

RacePhoto

hali

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