Highly competitive market of online advertising and social network Strong network effect on both markets. Project is going to become local player.
Product does not include blockchain-technology. Less than 500 loads of mobile app throughout whole 2017 year.
Roadmap of product does not include development of blockchain-based solutions.
Project is overvalued. Second round of financing was less than the first one.
Team consist of 33 people, which is too much for current stage. Tech and R&D team consist of 18 people, but white label does not have technical part.
Pingvalue wants to enter highly competitive market of online advertising and social network. In spite of the fact, that direct blockchain-based competitors does not exist, non-blockchain analogs is extremely strong. Moreover, in addition to high competition, this markets also has strong network effect. Platform with user’s reviews is not attractive for travelers, until huge number of people post reviews. In addition to that, project try to solve challenges that does not exist. Project is going to enter on huge, but highly competitive markets. The global Internet of Things market is estimated to surpass € 300 billion by 2019 in the retail sector only. Pingvalue aim to sell IoT goods € 1.2 million by 2019. The global Big Data for Business Analytics market is going to reach €167 billion by 2019. Project aim to sell € 2.9 million by 2019. The global Mobile Advertising market is going to reach € 196 billion. It is going to sell € 1.6 million by 2019 with ads plus sales promotions As a result, project will acquire extremely small share on all 3 markets. That’s mean, that project could be only local solution.
Despite the fact, that work on project was started in 2014 and mobile application has been launched in 2017, it has less than 500 downloads on both platforms, AppStore and Google Play. Product has extremely strong non-blockchain competitors. Starting from Google Maps and TripAdvisor, ending by Foursquare. In fact, these services already has huge amount of collected data and has thousands of users, who keep most part of information updated. It is hard to imagine, how blockchain technology could help to beat such competitors and become a market leader. In fact, data owners is key market players on such market. It is the most important part of the product for consumers that helps to attract them on the platform, and as a result, helps to attract business and institutes. This project will be interesting for institutional consumers only if the majority of citizens and tourists actively use this app. As was mentioned in finance, team’s estimation does not apply it. With small audience there is no value for institutional clients.
The goal of this ICO is to create - through Pingspots connected to the Pingvalue platform - innovative advertising models based on transparency, relevancy and rewards. Pingspots have to save costs related to third parties functioning as intermediaries, increase revenues thanks to more effective, targeted marketing campaigns and transform advertising in interactive communication. It can be also used to reward the actors in the Pingvalue platform for the interactions and transactions among themselves. PCO can only be used by members of the Pingvalue community. PCO cannot be used outside Pingvalue Platform. PCO value will likely be correlated with the traffic volume and the number of users. Roadmap of product does not include development of blockchain-based solutions. Due to the fact, that project is going to be local, blockchain technology is useless for it.
Project is going to achieve € 1.2 million sales by 2019 in Internet of Things market, € 2.9 million in Big Data for Business Analytics solution, € 1.6 million in Mobile Advertising market. Project target 12.8 million SMEs in Europe, with a primary focus on the those dedicated to retailing, hospitality, travelling, and food and beverage activities. By 2019, project aim to reach 5,285 SMES (0.04%). Thus, each SME would bring almost 1 000 euro in revenue. It is mean, that project could achieve only local adoption without huge scaling within Europe. According to white paper, project will be unprofitable until 2020. Project already has venture investments. At seed stage it receives $2,5 mln in Oct 2014 and €1.2M in May 2016. It is negative signal for further investors. Now, project want to raise €30 mln. As a result, project is overvalued.
The entire team is composed of 33 people across Luxembourg, Belgium, the Netherlands, Spain and Italy. The R&D team alone counts 18 people mainly based in Spain, with the rest of the team focusing on Business Development, Communication, Marketing and Sales. However, company exists already 4 years and does not achieve huge success. In addition, there is no strong technical part in white paper and public sources. The CEO of the project has huge experience in Logistics. Other founder also has an experience in founding small enterprises and even now is involved in other projects.