There continue to be rumors that Hydra is in trouble and soon to go out of business, will close its doors on January 15th (tomorrow), is getting out of the affiliate business, etc. etc. A member of this forum even posted court documents as “proof.”
This has been going on too long and I would like to settle the matter once and for all by providing the facts:
1) Yes, like many other networks, Hydra faced business challenges last year. We swallowed close to $10 million in bad debt from advertisers. (That’s more than most networks do in total revenue in a year!!!) Yet we’re still in business and continue to pay publishers on time.
2) It has been reported on here and those of you who have followed the situation know that Hydra has gone through a lot of drama… and it all came to a head in 4th quarter. But it was all resolved. Hydra and the Walker Family / W4 have settled all their issues. The Walkers have no involvement or ownership in Hydra and are free to run their business. There are no more lawsuits. It is done.
3) Hydra had to use the court system in the 4th Quarter for the purpose of restructuring. Certain aggressive and concerning statements were made as part of that process. But look at the end result. Zac Brandenberg led a new group of investors to buy the company he founded in 2003. There is no greater vote of confidence than putting up millions of dollars. For the record, the assets of Hydra were purchased by Marlboro Investment Group LLC – now renamed Hydra Group LLC. We have already informed most of our advertisers and affiliates of this change.
Bottom line – we’ve moved out of marketing categories we see no future in, we’ve just received a major new infusion of cash as part of a new corporate structure, we are investing in new capabilities to support future growth, and we have always and will continue to pay our affiliates on time.
Can we now just move on?!!!
This has been going on too long and I would like to settle the matter once and for all by providing the facts:
1) Yes, like many other networks, Hydra faced business challenges last year. We swallowed close to $10 million in bad debt from advertisers. (That’s more than most networks do in total revenue in a year!!!) Yet we’re still in business and continue to pay publishers on time.
2) It has been reported on here and those of you who have followed the situation know that Hydra has gone through a lot of drama… and it all came to a head in 4th quarter. But it was all resolved. Hydra and the Walker Family / W4 have settled all their issues. The Walkers have no involvement or ownership in Hydra and are free to run their business. There are no more lawsuits. It is done.
3) Hydra had to use the court system in the 4th Quarter for the purpose of restructuring. Certain aggressive and concerning statements were made as part of that process. But look at the end result. Zac Brandenberg led a new group of investors to buy the company he founded in 2003. There is no greater vote of confidence than putting up millions of dollars. For the record, the assets of Hydra were purchased by Marlboro Investment Group LLC – now renamed Hydra Group LLC. We have already informed most of our advertisers and affiliates of this change.
Bottom line – we’ve moved out of marketing categories we see no future in, we’ve just received a major new infusion of cash as part of a new corporate structure, we are investing in new capabilities to support future growth, and we have always and will continue to pay our affiliates on time.
Can we now just move on?!!!
