It's NOT the economy, stupid!

This is the same Netbridge that IAB Europe and Alain Heureux were so enthusiastic to support despite much evidence that IAB should not. This is the same Netbridge whose online and software investments were mismanaged by Orlando Nicoara, Silviu Sirbu, Vlad Stan.

This is the same Netbridge that operated the misleading traffic reporting service, Traffic.ro. It’s the same people who sold unreliable and improperly supported online advertising management systems (Ad Server). It is the same holding group that is rumored to cost cut with pirated software and pitiful salaries. The list of scandals, cheats, and failures is long.

This is the same Netbridge that Romanian journalists could not expose because their publishing groups were so closely tied with Netbridge and all of Netbridge’s bed fellows in the Romanian online advertising industry: AdEvolution, Imedia, MediaPro, Oligvy, Webstyler, Zenith and many, many more.

Implicating one, implicates all.

As I have written previously, I predicted the fall of Netbridge’s online group. Bad business is not sustainable. catastrophe is inevitable.

The failure to provide value to industry and market is not sustainable as a way of doing business- not even online.

It is a pity and especially for the foreign investors whose capital was misused and mismanaged by doi lei smechers.

Online advertising in Romania is at a dead end. There’s no one to trust. Worse, there is littel to no value in online advertising in Romania for the advertiser- except Google. Unfortunately, you can count the Google professionals on one hand.

Let us not forget Alain Heureux, President of IAB Europe, and IAB Europe, the trade association responsible for promoting the growth of the interactive advertising markets in Europe. Heureux and IAB Europe legitimized the bad guys. And so also IAB USA’s then international liaison. Heureux and IAB are not just guilty by association.

I am very pleased to see this house of cards begin to fall. Only when it has fallen down completely can there be a chance for entrepreneurs and investors to build an online advertising industry that is better, trustworthy and sustainable.

Below, Johnny Cash, Five Feet High and Rising

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Romanian Online Advertising Industry is FUBAR

Recently, the Romanian courts decided to suspend the activities of certain online holdings under Netbridge Investments SRL and New Century. According to reports, the online media and advertising giant owes one million Euros to unpaid web property clients.

This is just the tip of the iceberg. And it has nothing to do with the global economic downturn- even if journalists would like you to believe such a convenient lie. Ultimately, it’s about bad business, the failure to provide value and service, and a whole lot of hustle.

This is the same Netbridge that IAB Europe and Alain Heureux were so enthusiastic to support despite much evidence that IAB should not. This is the same Netbridge whose online and software investments were mismanaged by Orlando Nicoara, Silviu Sirbu andVlad Stan.

Netbridge! BOOM!!

This is the same Netbridge that operated the misleading traffic reporting service, Traffic.ro. It’s the same people who sold unreliable and improperly supported online advertising management systems (Ad Server). It is the same holding group that is rumored to cost cut with pirated software and pitiful salaries. The list of scandals, cheats, and failures is long.

This is the same Netbridge that Romanian journalists could not expose because their publishing groups were so closely tied with Netbridge and all of Netbridge’s bed fellows in the Romanian online advertising industry: AdEvolution, Imedia, MediaPro, Oligvy, Webstyler, Zenith and many, many more.

Implicating one, implicates all.

Lack of Business Sense

As I have written previously, I predicted the fall of Netbridge’s online group. Bad business is not sustainable. catastrophe is inevitable.

The failure to provide value to industry and market is not sustainable as a way of doing business. That’s what’s going on. And we shall see more break down in the Romanian online advertising industry in the next 12 months. It may even be so bad as to carry over to scandals in Romania’s print publishing companies as well.

It is a pity and especially for the foreign investors whose capital was misused and mismanaged by doi lei smechers.

Those who are only concerned about their own personal accumulation of wealth and lifestyle will do so at the expense of the industry, market and companies for which they work. A sustainable business evolves from the successes of professionals who are passionate about delivering sustainable value to their clients- not fast talkers who can make quick and dirty, under the table deals. This seems to be a common lesson that foreign and native investors have to learn the hard way.

Online advertising is at a dead end

Online advertising in Romania is at a dead end. There’s no one to trust. Worse, there is littel to no value in online advertising in Romania for the advertiser- except Google. Unfortunately, you can count the Google professionals on one hand.

Let us not forget Alain Heureux, President of IAB Europe, and IAB Europe, the trade association responsible for promoting the growth of the interactive advertising markets in Europe. Heureux and IAB Europe legitimized the bad guys. And so also IAB USA’s then international liaison. Heureux and IAB are not just guilty by association.

Moby, Shot in the Back of the Head. Album: Upcoming Wait for Me

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I am very pleased to see this house of cards begin to fall. Only when it has fallen down completely can there be a chance for entrepreneurs and investors to build an online advertising industry that is better, trustworthy and sustainable.

Stan Faryna

July 20, 2009

Eforie Nord, Romania

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>> Great Websites – What makes a website, great?

>> IAB Europe - What is the Interactive Advertising Bureau?

>> Online Strategy – What are marketing people talking about?

>> Open Source – Did it deliver on the 90’s promise?

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About Stan Faryna

Mr. Faryna is the founder and co-founder of several technology, design and communication companies in the United States and Europe including Faryna & Associates, Inc., Halo Interactive, and others.

Stan Faryna served as a Global Voices author and translator. Global Voices is a non-profit global citizens’ media project founded at Harvard Law School’s Berkman Center for Internet and Society, a research think-tank focused on the Internet’s impact on society.

His political, scholarly, social and technical opinions have appeared in The Chicago Defender, Jurnalul National, The Washington Times, Sagar, Saptamana Financiara, Social Justice Review, and other publications.

Mr. Faryna also served as editor-in-chief of Black and Right (Praeger Press, 1996), a landmark collection of socio-political essays by important American thinkers including U.S. Supreme Court Justice Clarence Thomas.

Copyright

Copyright 1996 to 2009 by Stan Faryna.

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