The German affiliate network belboon GmbH has filed for bankruptcy, according to multiple reports from clients and a ruling from the Nuremberg District Court.
Established in 2002, belboon has grown over the years to become one of the leading affiliate networks in the German-speaking market and has expanded its presence internationally, including in the UK, Spain, Italy, France, and the Nordics.
But now, in a move described as “surprising”, the Berlin-based network has filed for bankruptcy.
Earlier this month, news arrived that the Nuremberg District Court had appointed a preliminary insolvency administrator for detailM GmbH, the parent company of belboon.
It is now apparent that this development affects the entire detailM group, which includes belboon and employs approximately 160 people.
Markus Kellermann, Co-Founder of MAI xpose360, commented on LinkedIn, “What exactly led to the insolvency is not yet known, but one thing is clear: The end of belboon is likely to leave a gap for many partners. Both technically and contractually there are now many open questions for advertisers and affiliates who are or were active via the network.”
It’s a sentiment echoed across the German-speaking affiliate community.
“Thousands of publishers and programs may not receive their money and 160 jobs are facing closure,” wrote Marcus Seidel, Managing Director at Mittelstars. “This insolvency is sad and hits our industry hard.”
