Clear Pass goes bye bye

Clear Pass goes bye bye

mousepad.mouseplanet.com

At 11:00 p.m. PST on June 22, 2009, Clear will cease operations. Clear’s parent company, Verified Identity Pass, Inc. has been unable to negotiate an agreement with its senior creditor to continue operations.

(visit the link for the full news article)

Wow...

This is pretty wild. They had over 250,000 people signed up, at $199 a year which is...

almost 50 MILLION dollars in revenue they have taken in...

What must the operations budget look like that their $50 MILLION in one year can't accommodate it?

How many more of these are hanging in the balance?

mousepad.mouseplanet.com
(visit the link for the full news article)

Eeek, not good! Good find though, triple points for you!

That does sound strange, this cannot be a high overhead company, the only real expense would have to be data entry and marketing. Those cards probably cost less than $1 to produce if that much, I'd like to know where the money has gone. Correct me if I am wrong, but weren't there a lot of complaints about the cards not working last year?

Got intrigued and started looking, sounds like they had their hand out too:
www.opensecrets.org...

[edit on 22-6-2009 by secretagent woooman]