to Close Next Week

Share this content:
Online currency and loyalty provider will discontinue operations Aug. 26.

The announcement was made yesterday in a note posted on its Web site that said "Pursuant to the Terms and Conditions-Membership Agreement of, the operation of the beenz economy will be terminated at 12:01 a.m. (Eastern Standard Time-EST) on August 26, 2001," the note read. "No beenz earning or spending transactions will be honored after that date and time."

Any beenz currency in members' accounts after that date will be worthless, the note said.

The development follows similar news about's online payment rival, which reportedly is in merger talks with an unidentified company. shut its Web site Aug. 13 and told retailers to stop accepting Flooz as payment.

An e-mail sent to partner sites said that the company was talking with possible partners and hoped to be back online soon. Flooz would not identify the companies it was talking with or say when operations might resume.

As for, it had been denying rumors of its imminent demise for months. In December, it laid off 28 employees in its New York and San Francisco offices. The company had offices in the United States, London, Tokyo and Hong Kong. In March, beenz let go 180 employees, reducing its global work force to about 60 from its peak of 265. The company plans to close its London office at the end of August but will keep its New York office open to try to sell its software and computers.


Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

USAData helps businesses find new customers and grow their current customers through a combination of data and digital marketing services, and easy-to-use SaaS technology products. We enrich customer data so businesses can more effectively target and communicate with customers, and connect them with their best look-alike prospects through digital and traditional channels. We make it easy through simple, self-serve applications and APIs, as well as through full-service programs managed by our Data and Digital experts. 

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above