Here comes another round of layoffs. Human Resources will be replaced with a 3rd party vendor. What does that tell you for the future of the company?
25 replies (most recent on top)
"Anyone who is looking for a risk free alternative to DR/Mycommerce - expandnow.com pays daily - so a lot less of your money is at risk. Happy selling."
ExpandNow cant even pay their own employees on time so good luck getting daily payments!
Ten years ago, Digital River was acquired by the private equity firm Siris Capital for $840 million. At least half of that amount was financed through debt, a very large bank loan. The plan was straightforward: cut costs and eventually flip the company to a larger buyer—like Microsoft. That plan, however, never came to fruition.
For the past decade, Digital River has been paying an interest-only loan to the banks, amounting to $30-50 million annually, significantly reducing profits. Meanwhile, Siris has sold off parts of the business, making hundreds of millions in the process.
Tomorrow, the company will lay off nearly all of its employees, leaving just 20 behind to handle the dismantling process. Those 20 will be the only one to get severance. The entirety of everyone's severance. Over 200 people will lose their jobs with no severance pay, and clients still owed money will remain unpaid.
They’ll claim there’s no money left, but the truth is, the money is there—they’re simply choosing where it goes.
Everyone deserved better.
Anyone who is looking for a risk free alternative to DR/Mycommerce - expandnow.com pays daily - so a lot less of your money is at risk. Happy selling.
They deleted all products and locked all logins.
The platform is DEAD.
Digital River is done.
Once again checked our control panel. Still down. Our test instance is still available though, but one cannot conduct business through that.
We probably have a couple of surprise migrations to do next week, DR/MyCommerce is not our main revenue stream but there is a substantial amount of money going through it. Mr. Kasoff kan f*ck himself with a baseball bat full of rusty nails.
By checking our own product links (account still was active) and the purchase links of merchants that still used Digital River/MyCommerce actively I can confirm that all products of all merchants have been removed by Digital River. The logins are blocked too. The platform is non-fuctional and everything has been deleted.
It seems today we reached the end of MyCommerce / Digital River
We (a merchant) just received this email from DR:
"We would like to provide you with an update regarding the current challenges we are navigating in our business. Despite our efforts to consolidate operations, unforeseen factors have placed additional strain on our financial resources. These challenges have affected our ability to sustain operations.
In those circumstances, we will immediately cease facilitating transactions in respect of your offering on our platform.
Thank you for your understanding during this challenging period."
"Employees have been informed that they are being paid their salary in advance on a week-by-week basis"
Sounds bad for Digital River if it's true
Our control panel is not accessible and according to their internal support they are looking into the issue. It is not really encouraging to see the last comments.
Employees have been informed that they are being paid their salary in advance on a week-by-week basis
Ask now. So many people were let go this week. Merchants have no control with their own data now. Digital River turned into quicksand. Barry, this is for you: You’re a horrible person. Karma flows back.
Now they deactivated the control panels of all merchants. Game over?
It may or may not be true, wait and see.
“we can’t pay salaries after January.”
No wonder when Kasoff made every merchant stop selling and leaving Digital River. No sales no income no salaries
The owner cussed us out a few days ago in a meeting. Called someone a flake. He is the worst owner ever. Devil.
Was hoping this was a rumor. My boss and his boss just told me that it’s not good. To leave before Barry drags everyone into the void.
Another action from another company
https://www.kvraudio.com/forum/viewtopic.php?t=612462&start=1680
"I have now filed a criminal complaint:
- not paying owned money according to contract
- ignoring or rejecting emails, letters, registered mails with complains, termination of contract.
Or they just fill their support system and post some sentences without any anwser to the email/letter/inquiryt
- charging high fees for so called support (None of my cases have been closed, except one which has been deleted, too)
- invalid contract as Version 6.3 was not available before it got activated
I encurage you to do the same:
https://formulare.polizei.nrw/en/anzeige
(in english or german)"
Unreal. From one of the last of the good people left in Finanace: “we can’t pay salaries after January.”
somebody made the move
https://www.kvraudio.com/forum/viewtopic.php?t=614929&start=300
"I was at the police yesterday and made an annoucement, as they had sent a notification on December the 11th that the payment for September would have been transmitted to my bank account but no money arrived. This is clearly fraud and a criminal act. The police was very friendly and helpful and took the case very seriously. He was also very interested about the fact that they delay payments or omit payments for so many victims.
The police officer said that I should notify also other affected victims to go to the police to make the German public prosecutors moving. They take it serious, but they can only take action if victims contact them."
If anything is run by an US entity, Germany has to obey and can't do anything about it
I have never believed the so-called transfer of jurisdiction statement. If the law is violated in Germany or other European countries, and then, just through a statement, the jurisdiction is transferred to the US?
Doesn't make any sense to me.
They broke all contracts. Even people who closed account before October, explicitly stating they do no accept new contract (like me), still receive invoices and charges according to new contract. They:
- do not pay out what they own to vendors
- auto sign clients with new contracts, even though they rejected them and closed account
- keep charging them fees with new contract vendors didn't sign
- keep charging them for fake refunds (only email notifications sent to customers, not the money)
- send bogus invoices hoping vendors will start support tickets
- send KYC requests repeatedly (even to vendors that just completed it) blackmailing by saying "we can't pay out before that" and charge hefty support fees in the process
Basically, what ever funds you have with them, system is designed so they all take it with their fees, and in the end vendor owns them money instead.
We will see what happens after Jan 6 when their new contract states their legal jurisdiction is moved to US.
Yes, they transferred their human resources to a KI-portal supplemented by some Filipino students and are charging horrendous support fees ($185/hour) to fix their own faults and breaches of contract and stealing money from vendors. Under the new CEO and owner Barry Kasoff DR has turned into a mafia organization.
Same here: No payment for July, August, September and October. Only mad answers. No Access to my Control Panel….
I'm not sure if what you said is true, but according to the discussion forum, a merchant wanted to initiate legal action after the New Year's vacation at least that is what it said.
https://www.kvraudio.com/forum/viewtopic.php?t=612462&start=1605
"No payment for September, but there was payment notification on December 11, 2024. We have sent a payment demand (DR owes us 100K+), but so far, we have only received id--tic automated AI responses stating that our request has been forwarded to a competent employee. Our request to terminate the contract has been in the "in progress" status for four days, yet we still have access to the control panel. After the New Year holidays, we plan to initiate legal actions against DR."