Ryan Eagle of EWA network announced that they are closing down It is a sad and also a good news for all affiliates. Good news in a way that they did owe huge amount of cash to many affiliates world wide and we have been hearing about EWA payment issues for a quiet a while now , here is the article i wrote about EWA a few days ago Is EWA/BlamAds Really Dead ? . Now at least EWA do acknowledge publicly that they did had some serious problems at EWA network related to payments and instead of promoting them encouraging affiliates to send them more traffic they do admit they have nothing to pay to their affiliates.Check out post on Perform Outsider on how much they owe to their affiliates here Happy Valentines Day To Ewa.
Now bad bit , Yes i do may have problems with the way Ryan Eagle was promoting his network while he wasn`t paying his existing affiliate or problem with his payouts EPCs etc but still he was a Great entrepreneur he worked really hard to take EWA network to heights he was as he used to say “Hated amongst few and loved by many” affiliates . He was and is a great example for all CPA Network Owners. Also EWA was one of the industry champions and that will for sure have a very negative effect on industry .
Here is the copy of official EWA Network announcement
Dear EWA Affiliates,
First off, I would like to personally apologize as truly and honestly as I can for everything that EWA Private Network has put our publishers through these past months. It’s been a turbulent road for my company and it’s taken quite the toll on me and the staff around me. Believe it or not, I care about the reputation of my company I care about the publishers in my network – it burdens me daily to see what has happened. We incurred massive losses due to non-paying merchants, combined with internal problems lead to a situation which needed an outside investor to help resolve.
I spent upwards of a year seeking individuals and companies to invest into EWA and the entire process of finding an investor was draining on me – I was lead on and let down many times. Unfortunately, our most recent investor possibility ended up falling through leaving EWA with no other options. We have decided that it’s time to close our doors while we continue to seek a new investor to take over the company. Meanwhile, we will be working with a restructuring agent to liquidating our receivables and sell our assets in a way to repay outstanding payables.
Leaving EWA Network on a note like this was the absolute hardest choice I’ve made in my business career. I gave it my absolute 100% best and tried the hardest that I could, spending hours a day trying to make this company the best that it could be. Running EWA Network for these past four years and interacting with the thousands of EWA affiliates has been one of the best experiences that I’ve had, and I’d like to apologize once again to all our clients for the situation that we were put in.
Finally, I would like to apologize to our staff – especially the account managers, international partners, and our network manager on the front lines everyday. They were put into a situation where they were at the mercy of the companies problems. I accept the blame fully for it, and I want nothing that happened to the company reflect onto their shoulders because they did the best they did with cards they were dealt. When we thought the investor was coming through, I told them to pull – and when we were left empty handed, they were the ones to take the blame. They were the lifeblood of our company and I appreciate every minute they spent making EWA great.
On March 1st, 2013 we will be pausing all traffic to EWA publishers. Thank you for your years of support and the millionsof dollars in revenue that has run through EWA Network. It’s been amazing to see the growth of so many publishers since the beginning and I’m truly grateful for every single one of you.
Ryan Eagle, Partner
I would like to wish best of luck to Ryan Eagle for his future and hope he will learn from his mistakes.
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