I REALLY like swaptree.com. I think it’s a brilliant site.

I got crushed on points when webswap went bust years ago, now the same thing happened to me on peerflix.

Fool me once shame on you, fool me twice, shame on me. Im done with all point schemes except for my mileage points.

The fact that we’re not funded is why we will not “go under”. Our monthly costs to keep the site running are next to nothing and I don’t depend on it to pay my bills so again…as long as there is someone still enjoying the site I will keep the lights on for them.

I love it when other companies using the same point system model (12 and 13) come on here and try to woo peerflix members to bring their points over to their site where they can cash them in for ….drum rolll…..their stupid points. AWESOME. And where do i take them when your unfunded site goes under.

There are even swapping sites now that allow you to swap….another drum roll….points. It ludicrous.

If i have to use points, i might as well use cash.

You could 100% save face by partnering with a service that is still in the business of trading DVDs. Simply let all your members know they can join said service and once they do let them know you’re a former peerflix member…said service checks a list provided by you and credits their new account the appropriate amount of points.

Former peerflix members are happy, you don’t have to payout all that cash and you don’t have posts like this ones popping up all over the internet.

Sara (swaptree staff?),

You forgot to mention how swaptree members are getting ripped off NOW and probably everyday. Without points what do you do to REFUND members when they send something they own but never get what they requested in return? Word on the street is the ripped off member just gets a “Better luck next time” type response and the fraudulent member gets a slap on the wrist and maybe removal from the site after a couple infractions. Ripped off members try to voice their frustrations on the forums and their posts get locked or removed. So step off that soap box you’re trying to stand on.

MysteryCEO,

I have no funding and monthly costs next to nothing. Not trying to break the bank with this idea and it’s basically turned into a little hobby. So as long as there are members still enjoying the service I will have no problem keeping the lights on for them.

Isn’t this what VideoEgg just did to all their customers? I understand the need of companies to change direction to competitively survive, but doing right by your customers is critical. Leaving them holding the bag financially (as in PeerFlix case) or unplugging a mission-critical part of a site’s functionality on 60-days notice (as in VideoEgg’s case) is just bad business.

How on earth did this company burn through all that cash?

For the same reason you shouldn’t polish your glasses or a camera lens with paper (or a DVD for that matter). And compounding the issue was laser-printed, as the toner has a very high carbon content and is EXTRA-SCRATCHY.

And so, any DVD that had passed through the system more than a couple times would slowly be micro-sanded / scratched up.

I took to wrapping my DVDs with a little Saran wrap before shipping and placing a little sticker explaining why.

I tried contacting PeerFlix about this but never really received a satisfactory response.

I leave $2 in my account.

1. The cash out policy was already in place? That may be true but that was for people who voluntarily left not for people who are now being forced out.

2. The $10 fee is outrageous to begin with. Such a transaction should cost $1 at the most. And why no option for PayPal or ICH transfer?

3. Why is there a one month PLUS 45 day waiting period even for people who do not have outstanding DVDs out? Also why not simply wait for the trader’s confirmation and then send the refunds immediately?

What happens to all your points (money you earned!!) when the company goes under, changes its model, etc.

Nothing…they evaporate into thin air and your screwed.

Swaptree is the ony true trading site that doesn’t use points but instead has sophisticated trade algorithims that can instantly find 3 and even 4 way trades. You only send something off when you are getting something in return. Makes sense to me.

Do any of them actually make any money or just blow investor capital?

Mystery CEO

i want everyone to know that this guy should be black listed from VCs, and actually go to prison or at least be under investigation about what happened to the 10 millions dollars.

man, i can’t believe this sucker had the balls to reply here.

Duncan, you rock.

here’s a copy of an email received from you on 01/23/08 :

_____________________________________

Dear Peerflix Member,

You have not logged in to your Peerflix account in the past ninety (90) days. The Peerflix Terms of Service state that any account that has been inactive for more than ninety (90) days is subject to cancellation without further notice. Unless you log in to your Peerflix account within thirty (30) days of this notice, your account will be terminated and any Trade Cash balance in the account will expire at that time in accordance with the Peerflix Terms of Service. To maintain your account in active status, you must log in to http://www.peerflix.com within the next thirty (30) days. Going forward, any account that has been inactive for ninety (90) days or longer will be subject to cancellation without further notice. If you have any questions please contact help@peerflix.com. Thank you.

Best regards,
The Peerflix Team

______________________________

in other words, you a**hole stole from me 75 dollars !!! Billy Mc Nair should be nominated for the worse CEO ever and is a definite crook. Now don’t tell me you care about your members fvcking liar !!!

Others have > noted the “coincidence” of this move by Peeflix, and their investor 3i exiting early-stage VC funding.

We appreciate all of the members of Peerflix who have been buying, selling and trading DVDs with us over the past 4 years and as a result we have made every effort to do right by them. We could have just turned the trading off immediately but I didn’t think that was the right way to treat our members so instead we have given them 30 days notice of our intent to discontinue the marketplace so that they would have an opportunity between now and then to send or request to receive any DVDs they were holding or waiting on.

Again, I have absolutely no problem with you taking issue with me or my company whatsoever just please make an effort to be diligent and accurate in your reporting whenever possible.

Thanks,
Billy McNair
Peerflix, Inc.

Their service was crappy anyway. It’s not worth waiting an indeterminate amount of time to receive something you can just go buy at the store for $10, especially considering the fees involved with Peerflix.