June 04, 2018
- Their old product website is Russian. They have a new ICO website in English.
- The company location shows both in Russia, Chile and San Francisco in different platforms, why?
- Doesn’t seem to have a proper location.
- Company founded in 2015 as a normal startup, then turned into an ICO soon.
- They have ICO advisors and temporary or fake team members to raise money.
- Most team doesn’t state they are working on this, in Linkedin or somewhere else. Except their website and ICO page.
- Team has 4 on operations, 5 on tech, 5 on marketing.
- They are spending a lot of time going to conferences and networking.
- Does this business need a token? No.
- Is it a protocol or platform? No.
- No code written in Github.
- Raising soft cap of $3M and hard cap of $24M. They are too early startup for anything over $5M.
- Uses shipit tokens for payments, they believe a decentralized currency will have benefits shipping internationally.
- Private sale will continue until June 30th of 2018. At this point, the company will enter the pre-sale portion of the process. Has a 55% bonus.
- Private sale min amount $10K
- They have a iOS app with only 1 review. Google Play app with 500 downloads. Its live and updated since 2016, don’t know why no one is using them.
- They say they won’t ship drugs and illegal things. Which seems like a good thing, its risky for the shippers.
- 12 useless advisors, red flag.
- They seem to have friends or fake accounts boosting their topic on bitcoinforumtalk.
- The claim to be 2x cheaper and faster than other platforms, it does make sense. The operations model could work.
- The idea and market makes sense. But this company is unlikely to be the market winner.
- Team has red flags.
- Company structure has red flags.
- Not a real blockchain project, just an ICO opportunist fundraising.
Semi-legit startup going after a good market with high chance of failure because of slow execution speed. They’re also an ICO opportunist.