Dear Brandstack Customers and Designers,
Over 3 years ago, Brandstack (then known as IncSpring) came onto the scene and created a new way to buy and sell logos from designers around the world. In that time, we've seen some exciting new brands adopted from unused concepts from talented designers in over 150 countries. Unfortunately, Brandstack's run has come to an end.
Recently, we were hit with significant fraud. If you're not familiar with this kind of situation, here a simplified summary of what happens: 1. Criminal uses stolen credit cards to purchase legitimate goods (designs); 2. retailer (Brandstack) pays out vendors (designers) for their work; 3. bank sees the fraudulent transactions and takes the money from the retailer; 4. retailer loses the funds paid to vendors, any profits associated with the purchase, and resources used to fight and process the transactions; 5. If the fraud is significant enough, the retailer loses access to accept credit cards. Even shorter summary: the retailer takes all of the liability. Talk to any successfully entrepreneur about the impact of fraud online and you'll hear some interesting stories. I have been fighting the impact of this fraud for months. Unfortunately, it's ripple effects have caused serious waves… I did not have the flexibility or capital to withstand it.
Although I wasn't able to fulfill my dream of turning Brandstack into a success that drives change in the design community, it has still been an amazing journey. Several competitors have come to life over the past two years, validating the idea of buying and selling logos in this manner. Designers now have several options to sell their unused designs, finally providing real ways for designers to make passive income. It has been amazing meeting so many talented designers who drove Brandstack to the success it had, as well as, seeing the incredible work contributed to Brandstack's marketplace. I want to thank everyone, including designers, customers, investors, advisors, and friends for the passion, dedication, and inspiration you've provided. It would have never made it this far without you.
As many of you know, there is some unfinished business that won't be taken care of. Many designers put their faith in Brandstack and were left short. I sincerely apologize for the issues this has caused. I wish it would have turned out differently.
If you are already a member of Brandstack. you will be able to log into Brandstack and Brandstack Custom until December 1, 2011. Please download any files needed before that time.
If you have any domains registered through Brandstack, you will now be able a mange them through ResellerClub.com. To transfer your domains to another registrar, you will need to email them directly at email@example.com using the email address shown in the WHOIS records.
My time working with so many wonderful people has been amazing and I am going to miss it. I wish all of you the best of luck in the future.
Founder & CEO
You can log in to download your designs by December 1st 2011.