VentureBeat - Latest Comments in Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Sell_Gold — Tue, 18 Oct 2011 16:54:01 -0000

It's interesting how this company can be attacked for paying low value on an item and be called a scam because of it. Isn't that the same as over charging for personal training or any other form of customer service. http://www.cashforgoldorang...

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Ryan — Tue, 08 Dec 2009 00:49:26 -0000

This is interesting. Here in the UK, there have been many similar companies operating through the same "instant cash for gold" system. There are plenty of advertisements on the TV and I'm not sure all of them get the best press from the media due to bitter consumer feedback.

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

jasonb12 — Mon, 30 Nov 2009 16:24:37 -0000

Funny you say this John I have heard from several diferent people now that Alsop Louie Partners has been paying close attention to My Gold Depot.com The VC's love the growth potential of these cash cow's.

Jason B

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

John Scomum — Sun, 22 Nov 2009 07:59:10 -0000

There is a New Player in town that the VC's have been paying close attention to. VC's love the growth potential of www.Mygolddepot.com This New York and Florida start up is gaining BIG market share in the very competetive online gold buying business. V Cap's love this market place, keep your eyes on www. Mygolddepot.com.... Even better they actauly have customers that like them... LOL

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Funny Jokey — Wed, 04 Nov 2009 02:30:05 -0000

its a scamm

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

johnshowner — Tue, 06 Oct 2009 11:18:15 -0000

Cash4gold is a scam and Jeff and the other managers will be in jail just like Brenie Madoff with in the next two years. Take a look at the back round of these guys and you will see who's really behind this company.

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

wandak — Thu, 03 Sep 2009 18:03:06 -0000

have you guys seen the newest cash4gold news? it has to do with the California fires

http://www.earthtimes.org/a...

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

jrev — Thu, 03 Sep 2009 18:02:58 -0000

Decided to take a look at their site and seems they are legit and doing some good
http://news.prnewswire.com/...

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

johnsanto — Wed, 19 Aug 2009 11:57:10 -0000

Most recently I used another leading site call www.mygolddepot.com after leaning of the horrible storys from crapforgold.com I have to tell u www.Mygolddepot.com was amazing ! I recieved a check with in 11 days of my package being sent to them and I was honestly shocked by the check I got, ($329.00) I e-mail there customerservice department once when I had a question and they responded w/ in the same day. Great customer service and and even better, a GREAT payout ! I have now used www.mygolddepot.com 2 more times since my first transaction for a total of $1,123.00 in payments. Mygolddepot.com Rocks !

J santo

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Honda Parts — Wed, 27 May 2009 11:38:56 -0000

Cash4gold is not a scam. My mother used it and she did get $200 for a old chain. Of course a local jewler we know later told her she could have easilly have gotten $700.

Oh well a sucker is born every minute i Guess.

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Allen Harkleroad — Thu, 12 Feb 2009 13:27:49 -0000

Seems Weronika Ciwr has been busy on the net with the same freaking defamation email. I can't wait for the Streisand effect to kick in. (We got one to for pulling direct quotes from consumerist.com). So lame....

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Cash4GoldInc — Fri, 06 Feb 2009 19:12:44 -0000

A response to the disgruntled employee can be found here:

http://cash4gold.blogspot.c...

It is important to remember that this is a short-time employee who was terminated, so there are bound to be some hard feelings. While the company takes all accusations seriously, these certainly need to be kept in context.

Daniel -- There is also a response to Cockeyed's original article here:

http://cash4gold.blogspot.c...

And reference to the Joe Laratro situation here:

http://cash4gold.blogspot.c...

Regarding any complaints about payout, more than 93% of customers do accept their checks. That said, most complaints stem from the fact that customers expect to get from Cash4Gold what they would get from a pawn shop. Cash4Gold is a refinery and pays for the value of the gold when it's been melted down. A pawn shop can pay based on the value of the workmanship and resell of the original piece. Anyway, there's more on this in those responses that were referenced.

All in all, it's recognized by the company that 1) more needs to be done to educate prospective customers and set reasonable expectations, and 2) work needs to be done to repair the company's image. Much of that involves a level of transparency.

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

MarkCoker — Wed, 04 Feb 2009 01:10:35 -0000

I wouldn't invest in this company, just as I wouldn't invest in a tobacco company. How could you sleep at night knowing you were hurting people in the name of the almighty dollar.

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Chris Morrison — Tue, 03 Feb 2009 19:43:30 -0000

Thanks Daniel, I didn't catch that one.

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Mikel — Tue, 03 Feb 2009 14:37:06 -0000

A recent story claims Cash4Gold is generating $1M per week. If so, that's lots of cash considering that some analysts claim gold will hit $2,000 oz over the next 12 months.

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

teamlram — Tue, 03 Feb 2009 13:13:27 -0000

Strong cashflows sound great, but who are they going to unload this investment on? It sounds like their growth is going to get capped because their shady business practices are building a poor reputation for them. Plus, once the economy turns around, this business won't look attractive anymore.

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Robert Fever — Tue, 03 Feb 2009 11:32:49 -0000

Good lord... can someone remind me why shiny metal is valuable? This is thoroughly absurd. I'm sticking with my polished snail shell beads.

Do you have any tobacco?

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Daniel James — Tue, 03 Feb 2009 10:43:26 -0000

There's more. My pal Rob @ cockeyed.com (awesome funny website with a sprinkly of consumer scam outings, inc. Herbalife) ascertained that you were offered as standard 1/3rd of the value of your gold;

http://cockeyed.com/citizen/goldkit/cheat.html

Now, this happens to be the second result on Google for 'cash4gold', which made them rather anxious, so they tried to bribe Rob to take down his piece or change it significantly;

http://cockeyed.com/citizen/goldkit/reputation.shtml

So the disgrace piles on disgrace.

That said, I do not think that all venture investors (or perhaps many) look at their business opportunities through an moral filter. Whether or not the business is sustainable is another question.

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Sean C — Tue, 03 Feb 2009 10:40:58 -0000

Depressing....comon people, there are enough scams around. We dont need another one

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Jay Jamison — Tue, 03 Feb 2009 10:24:51 -0000

Though I've never used this services, this behavior doesn't surprise me at all. It carries on a long tradition in services that provide cash to the cash-strapped--e.g., check cashing services, payday loans, etc., all have opearted one step up from loan sharks (on a good day).

I am pretty surprised though at your question: "if you were in a venture capitalist’s shoes, would you invest in Cash4Gold?" We're not even a month into the Obama era, when chatter in the technosphere has gone on and on about how responsibility is the new watchword, how we need to look out for each other, how change matters. If you believe in all that, then how can you justify scamming people with these kinds of sleazy tactics?

To answer your question: I'd only invest if there was a demonstrated commitment to get an A+ from the Better Business Bureau. These services have value, but if they use predatory tactics, then they should be fixed.

Re: Sleazy measures for sad times: VC-backed Cash4Gold attracts complaints

Aimee — Tue, 03 Feb 2009 10:04:34 -0000

This really was the most depressing commercial. Ever.