Analysis of ICO Howdoo
Howdoo is planning as social network free of issues of existing social networks (as founders understand them) – inadequate personal data security, cyber-bulling and trolling, absence of creators’ fairy compensations, passive role of users in advertising process and disconnection between them and advertisers, high fees and long term for executing international payments. Project probably can be a solution for these issues via: democratic moderation based on voting process; securing personal data with flexible level of visibility; AI-powered search engines and uDoo-based internal payment system with useful for cryptocurrency fast transactions and low fees.
But if we look at existing social network, there are existing moderation policy based on AI and democratic voting of moderators group (Facebook), setting of visible advertisement by users (FB, Instagram) and flexible management of advertisement campaign (Google+, Facebook, many other social networks). So, in this project really innovative thing is cryptocurrency usage for payments.
There is no roadmap presented, so it looks like scam project with a bright presentation.
WP contains that founders are planning to sale 38.5% of issued tokens. Also, only 30% of funds received during ICO were planned to use for product development, and 40% will be used on marketing. Additionally, WP contains revenue distribution information (60% to network operator, and 40% to funding operational costs). But, there are no detailed sales plans or expenses plans.
Marketing strategy was not described by founders, which looks strange for project oriented on marketing and advertising revenues.
Team have positions in all segments: management, marketing, finance and IT/Blockchain with LinkedIn profiles look live. But there is no confirmation of their role in public space and no blockchain events participated by them.
The Vision of the Market
Founders described in WP issues of existing social networks but, with deep review, most of them were successfully solved by existing and popular products like Facebook. No market research was presented, which is unbelievable for team which looks so professional.
Understanding of the Target Audience
According the website and WP, target audience consists from all existing social network users. But there is no presentation of deep analysis of them: their segmentation, needs, volume etc.
Despite of WP information, there is only one real advantage over existing social network – fast and cheap payments. But, according our opinion, this is not enough to be a successful social network on the market divided by big players like FB.
Project strong sides: fast and cheap payments.
Project weak sides: roadmap was not presented; no detailed market analysis, business plan; unproved team information.
So our position is negative, probably scam.