Expert Coin

Analysis of ICO SOOLOOX

17.04.2018

Product

This product can allow users making money on selling data about their needs, wishes, and purchase intentions to advertising companies.

SOOLOOX provides special peer-to-peer tool named IDTX (Interest Dimension & Transaction Box) which provides these roles for users:

  • Customers – provide their interests’ data as leads using interfaces to existing online applications for organization and transaction them. Additionally, these interfaces can save interests and wishes, and provide advertisements most interesting to customer.
  • Vendors – can buy these leads and convert them to purchase agreement

SOOLOOX provides 3 types of accounts:

  • Start account – allows users to test the product’ potential, earn money on their interests, but no payouts to other wallets or bank account. As a role of vendor, Start account allows testing data receiving. Start account is free
  • Cash account – allows customers to make payouts, vendors to receive full data. Recommended accounts fee are USD 12 per year for customer, and USD 60 per year for company.
  • Cash Account Key (CAK) – tokens issued during ICO. Allows conversions of initial Start Account to Cash Account, definition fees for Cash Account and collection of them.

The sale of tokens (CAKs) will ends on earlier date: USD 30m received or fully developing a platform.

Founder is planning beta launch at June 2019 and final launch at July 2019.

Business Plan

Soft cap USD 1 mln. If funds received will be less than this value, founders will cover initial project costs and will return all funds after this to investors.

Normal cap USD 10 mln. Launching project according roadmap, starting basic applications (multi-currencies account, profiles, interests, transactions, API).

Middle cap USD 18 mln. Launching all applications at once and shorting the implementation period.

Hard cap USD 30 mln. Enabling marketing activities.

Below you can see planned expenses in dependent of received funds (million USD).

Normal cap:

  • Legal services - 1
  • Technical concept – 2,5
  • Platform implementation - 5
  • Administration/team – 1,5.

Middle cap:

  • Legal services - 1
  • Technical concept – 2,5
  • Platform implementation - 12
  • Administration/team – 2
  • Buffer - 0,5.

Hard cap:

  • Legal services - 1
  • Technical concept – 2,5
  • Platform implementation - 12
  • Administration/team – 3,5
  • Buffer - 1
  • Marketing - 10.

Let’s notify that founder is planning marketing activities only with a hard cap funding. That can mean having zero sales in case of normal or middle cap.

Marketing Strategy

Founder gave no information about sales and marketing activities – just planned budget (only in hard cap funding case) and a few words about cooperation with couponing services and cash-back providers.

Team

As Team there were introduced 2 persons: founder Klaus Heuser (management consultant with 20-year experience) and Kurt Mohrs (financial service consultant with 25-year experience). There is no information about their crypto-activity, or successful projects, or technical & IT team, or advisors.

The Vision of the Market

No clear market analysis was performed by founder. But, based on WP, our experts believe that for Customer role, potential market members are all Internet-shopping users, and as Vendor role – all customers of context advertising. But, looks like the product has no advantages to existing context advertising systems from the Vendor’s role, and founder make no comparing of it.

Understanding of the Target Audience

There is no special research about target audience in whitepaper. Based on all information, there are all online shoppers are the target audience of the project.

Competitive Advantage

There is no special research about the competitors, but, based on product information, there are Google AdWords, Facebook Advertisement and other context advertising systems.

Summary

Project strong sides: interesting idea of selling by user his personal data.

Project weak sides: marketing costs were planned only in hard cap case; no marketing plan presented; no market analysis performed and looks like project have no competitive advantages; no detailed information about team was presented.