aglocologo1.bmpAfter some delay, and server problems, AGLOCO is now open for business.

We wrote about the service here. It is controversial because it promises to pay you to surf the Web.

VentureBeat has just signed up, deciding that we’ll give it a whirl and see if it works. We don’t mind sharing basic personal information AGLOCO asks for, because it’s the same many other sites require– and AGLOCO has promised not to pass it on.

We went to the calculator and we practically choked at the earnings it promised based on our plan (see calculator below). It said we’d “earn” 11,720 a month! That’s based on a plan of getting 12 friends to sign up, and an assumption that each of those people will sign up five people on average — and further, we assume each of these people surf an average of five hours a month (all fairly conservative).

Naturally, from the wording, we thought this meant dollars, as in $11,720. So we checked with AGLOCO spokesperson Steve de Bonvoisin, and he set us straight. It means 11,720 shares, and that’s not tied yet to any worth. So don’t get your hopes up. Still, we’d like to try this out. If any of you sign up, and you heard it here first, consider using VentureBeat’s referral ID, which is BBBB0104. It’ll help us with do accurate reporting about this company, and any money we make will be donated to a good non-profit cause. We’ll make it public when we do.

Update: The last piece of the puzzle for getting started, the ViewBar, is still not available. We’ve checked with AGLOCO, and they have not given us a date yet.