Alternatives to ShareIt/MyCommerce/Digital River

[barteko]

I wrote here before that in the beginning of October 2024 I have notified Public Prosecutor's Office in Cologne about possibility of fraud taking place with potentially hundreds of companies affected. There has been no feedback until this week. I was contacted by police in Cologne to provide more information, which I did and it was forwarded back to the Prosecutor. Let's see...

[alientec]

I was contacted by police in Cologne to provide more information, which I did and it was forwarded back to the Prosecutor. Let's see...

You'll see nothing. The prosecutor sent me a letter informing me - the perpetrator is unknown. The letter was dated mid Dec'24, but it was sent over 3 weeks later, in Jan'25. A favor to a big brother?

See no evil, hear no evil.

[sft234]

Barry L. Kasoff either is the dumbest CEO of all times or a criminal.

IF his intention is to rescue Digital River from insolvency then there's noting more dumb that chase away the income sources (us merchants) which generate as well as no costs in a purely digital system but bring in money. He could have avoided leaving everyone even upon the necessity to postpone payments by clearly communicating what's going on and when things will be back to normal. But nothing, NO communication. So all his income sources left and never ever will return. Plus the reputation of Digital River went to zero. It's rated the minimum one star now on all rating platforms.

If his intention however from the beginning on was terminating the company while stealing money from vendors for himself and keep everyone believing all is ok by lying then he's not dumb but a criminal (who might know legal tricks to make his crime legal). So compleltely incompetent or criminal. I can't see anything in between.

[alexcmn1]

>I can't see anything in between.

I am agree, and I bet on incompetency. I already saw when Borland has sold Delphi/Codegear with 40 millions of annual revenue to Embarcadero for 20 millions. Delphi has survived, but I doubt DR will survive.

[toha]

The only thing that is certain is that they will close the German branch. There isn't much left in Germany anyway.

[IaES]

I think the German branch was making a good profit but other branches were not. So they adjusted our payment terms in the hope of using the money in the german branch to pay debts for other branches.

But they didn't reckon on the speed that we'd all switch to different providers as soon as we smelled something wrong.

Also I think they laid off the wrong tech people - or the tech people left - and remaining men-in-suits just didn't have the know-how to keep their system working and it all failed and they just stood there like laurel and hardy scratching their heads.

[alexgn]

Don't they serve all EU countries from the German branch?

[IaES]

I think most software sales went through the german "ShareIt/MyCommerce" checkout. Hardware sales went through Ireland. I have no idea what DR UK did. I suspect many of the branches were just a tax fiddle.

Company/Corporation tax is lower in Ireland so they likely funnelled profits into Ireland to pay less tax.

[ssec]

https://www.google.com/search?q=Barry+K ... Mi00oAfgDg

Barry Kasoff closes down Zombie companies , this is his curriculum.

No communications were made at all because the message would have been "we are going out of business."

Delay and pretend is the first and basic approach of a struggling company, where losses are accumulating and major customers are lost.

[quikquak]

‘Insolvency’ is part of his cert. skill set:
https://www.realizationservices.com/pre ... y-l-kasoff

[ssec]

Companies winding down call this guy and he makes them worse

https://tcbmag.com/struggling-imation-t ... -services/


Barry Kasoff is marketed as a “restructuring specialist,” yet his tenure on the Board of Directors of EveryWare Global (NASDAQ GM: EVRY), alongside his fellow nominee and Clinton Senior Portfolio Manager Joseph De Perio, would suggest otherwise. For your reference, Mr. Kasoff and Mr. De Perio joined EveryWare’s Board after the company was purchased in May 2013 by ROI Acquisition, a blank check company established by Clinton. Approximately a year after Mr. Kasoff and Mr. De Perio joined the Board, EveryWare’s stock plummeted 91% to $0.90 per share. Over the course of this remarkable destruction of value, EveryWare shut down two factories, defaulted on a loan and furloughed workers. Is this the type of future we want for Imation?

[sft234]

‘Insolvency’ is part of his cert. skill set:
https://www.realizationservices.com/pre ... y-l-kasoff

In his certificates list CT and CD are missing ("Certified Thief" and "Certified Destroyer")

[ssec]

Apparently he bought Digital River...

Barry Kasoff is the CEO and owner of Digital River. Barry has over 35 years of experience in strategic management, operations management, crisis management, finance, accounting and information systems

Should have left them as soon as this news came out

[Resplendence]

Anyone with some legal experience here who can give suggestions on how to update DR page on Wikipedia with proper accusations ?
https://en.wikipedia.org/wiki/Digital_River

[quikquak]

It's a little confusing. In a support email they said "Digital River did recently exit out of the portfolio of Siris Capital, a private equity firm where we had made our home for the past decade...." (posted early in this massive thread)"

But Siris Capital bought DR in 2014! I can't find reports of them losing DR, so how does old Bazza here fit in? He bought it from Siris, or was appointed by them?