The market of professional networks looks quite fragmented and established, that is why it is unclear if dock.io will be able to gather all the users from different platforms in one place. The motivation for users to switch from their current professional network platforms to dock.io is unclear.
The platform will run on Ethereum Blockchain and will need a relatively high transaction throughput to operate with such a large number of users and applications. That is why, there are potential scaling problems. Some of the alpha version elements (for instance, importing data from LinkedIn page) were copied from Remote.com interface. Also, the bounty campaign of the platform looks too generous. The team gives tokens for a very simple task, such as following the company's pages on social networks.
The users may not be interested in sharing their personal data without getting any reward in return. It is not clear how the platform will make money.
The Use of Funds is not given in a detailed way and there is no financial plan for anticipated expenditures. The team aims to raise 30M USD by selling 30% of tokens. This gives company's valuation around 100M USD. This figure is way above the post-money valuation of comparable startups on the US market, according to PitchBook data.
However, the core team of Dock is currently involved in another related but still different project - Remote.com.
Dock.io enters the market of professional social networks. Nowadays, even though much of the personal social networking activity has consolidated on Facebook, there is still a place for niche professional social networks, such as Doximity (professional network for doctors, raised 81M USD), RallyPoint (Linkedin for military, raised 12M USD), Academia.edu (network for scientists, raised 18M USD). Also, recently a team of former Tinder employees, led by Tinder's original CTO Ryan Ogle, launched a new app aimed at professional networking called Ripple. However, this market looks quite fragmented and established, that is why it is unclear if dock.io will be able to gather all the users from different platforms in one place. Moreover, the motivation for users to switch from their current platforms to dock.io is unclear.
Dock.io aims to create a platform for sharing and controlling professional personal data. The platform will allow users to control their data and share it with different services on demand. Currently, the alpha version of the platform is available to test. There were ~450K visits to the application website (app.dock.io) since its launch in December 2017, according to SimilarWeb. However, some of the alpha version elements were copied from Remote.com interface. Also, dock.io has strong partners - remote.com and SmartRecruiters - that committed to start using the protocol. The former one had 1.4M visits during January, while the latter one had 4.4M visits in January, according to SimilarWeb data. Also, the bounty campaign of the platform looks too generous. The team gives tokens for a very simple tasks, such as following the company's pages on social networks.
Applications on the Dock platform will provide compensation to other applications for accessing users' data. Users, however, will not pay applications for their own data. Instead, any time a user sends data that is attributed to another application, a payment will be triggered within the dock.io protocol. This payment is not necessarily simply rerouted tokens. Rather, it might include re-creating burned tokens, without ever surpassing the original amount created initially. Using this model, applications will indirectly pay other applications to access their data.
The team aims to raise 30M USD by selling 30% of tokens. This gives company's valuation around 100M USD. This figure is way above the post-money valuation of comparable startups on the US market, according to PitchBook data. The team will burn unsold tokens during the ICO. The team bonus of 20% issued tokens will be frozen for 2 years using a vesting scheme. The funds will be in the following manner, according to official Telegram Channel: 60% Research and Development, 25% Marketing-Sales-Business Development,10% Operations, 5% Legal-Compliance-Governance.