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SuperBloom

Superbloom provides a platform for members and non-members to work together to crowdsource due diligence via a safe and organized mechanism. The platform provides users with access to top projects, and helps create frameworks and checklists for vetting new projects that arise.

Rating: 3.4

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks: N/A
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
The project development started around June 2017. In January 2018, Superbloom launched the first version of the platform in Macau, China to an audience of 3000+ avid crypto investors with the ability to purchase.


Token description
ICO date
TBA
Token price
N/A
Platform
Stellar platform
Hard cap
29000000
Capitalization of token pool
58000000
Blockchain
Stellar platform
Token distribution date
N/A
Consensus method
Proof-of-Work
Escrow
N/A
ICO currencies
USD
Bounty camping
N/A
Markets
N/A
Token functions
Individuals or entities holding a certain amount of SEED get access to different transaction sizes and priorities to token sale allocations.
Tokens distribution
Sale (50.0%)
Company Reserve (17.0%)
Eco-System Development (18.0%)
Team (15.0%)
Risks
MARKET

The regulation behind managing and investing funds might be a significant barrier to growth for SuperBloom. In order to simplify and structure ICO investing process for customers, several platforms have already been launched. SuperBloom solution will have to compete with IndigeGoGo ICO, Fund Platform, FastInvest, NousPlatform.

PRODUCT

The validity of the results obtained by the platform are unclear and have to be empirically tested. It is not possible to test the private beta, the team only provides the screenshots of the product in WP. There are no links to GIthub for tracking the project development"

BUSINESS MODEL

The information about the size of the fee is not given.

FINANCES

Post-money valuation of the project will be around 58M USD which is well above the median valuation of comparable companies on the market. The team bonus which will be around 4.4M USD is not frozen via vesting scheme.

TEAM

There are no links to verify the teams experience on company's website. The whole size of the project team is not clear. According to her Linkedin profile, the founder of the project is still employed at her previous startup - Future League. This may slower the pace of SuperBloom development. Some of the team members do not work at SuperBloom, according to their LinkedIn profiles. The experience of the third founder and CTO was not verified as there is no linkedin profile of him.

Full analysis
Market

2017 was a historic year for ICO 2019s. Startups raised a collective $4.2 billion through ICOs, up tremendously from the $295 million raised between 2014-2017. Notably, ICOs handily eclipsed the $3.34 billion invested in 2017 seed deals. ICOs aren 2019t just for FinTech anymore, and now seen as a viable alternative for startups to secure initial capital. In order to simplify and structure ICO investing process for customers, several platforms have already been launched. SuperBloom solution will have to compete with IndigeGoGo ICO, Fund Platform, FastInvest, NousPlatform. The regulation behind managing and investing funds might be a significant barrier to growth for SuperBloom.

Product

The Superbloom platform is a technology suite of products built on Stellar, the public blockchain. The goals of these tools are to simplify the contribution and participation process for crypto assets, while providing all the benefits of a public blockchain.\nSuperbloom\u2019s platform allows members to reserve pre-ICO tokens, participate in ICO launches, securely manage multiple crypto assets (of different types, ERC-20, BTC, Lumens, etc), and buy/sell directly on the platform.\nThe Superbloom interface consists of a portal where Members can browse current, upcoming, and past pre-ICO sales featured on the platform. Each pre-ICO company has a profile including project information like description, website, target raise, ICO date, token supply, and more.\nSuperbloom uses an internal tool called the Superbloom Quotient (SBQ), to determine the viability and success of a token. The Superbloom Quotient relies on three key factors: analysis, syndicate consensus, and transparent due diligence. Each project goes through extensive analysis based on a series of metrics including ranking of the team, token economics, technology, how well it solves a problem, and the likelihood the team will deliver. After a project passes analysis, we look to Superbloom syndicate members for consensus.\nOnce this process occurs, Superbloom conducts transparent due diligence with at least one meeting with the founders of the company as well as fact-checking all the aspects of the company, talking to advisors, as well as previous investors to confirm all facts.\nThe project development started around June 2017. In January 2018, Superbloom launched the first version of the platform in Macau, China to an audience of 3000+ avid crypto investors with the ability to purchase.

Business model

To gain access to the platform, users must pay a membership fee. To participate in membership rewards, qualified users must purchase SEED tokens. The platform is a membership-based software that does not charge its members a commission or transaction fee. Non-members pay a discretionary 20% premium to purchase deals on the platform at the lowest rank and may not be guaranteed allocation.

Finances

60% of the collected funds(around 18M USD) will be spent on the technology development, 25%(around 7.2M USD) will be spent on membership benefits, 10%(around 2.9M USD) will be spent on treasury management, the rest 5%(around 1.5M USD) will be spent on Regulatory & ICO costs.\nPost-money valuation of the project will be around 58M USD which is well above the median valuation of comparable companies on the market.\nThe team bonus which will be around 4.4M USD is not frozen via vesting scheme.

Team

The core team members have technical background and experience in launching tech companies. Emmie Change - CEO of SuperBloom, previously founded YC-backed startup - Future League. The second founder - Kenzi Wang - has also been in VC industry for a while. \nThe experience of the third founder and CTO was not verified as there is no linkedin profile of him.\nSuperBloom has prominent advisory board, there are people from Bancor and Bitbank.\nThe whole size of the project team is not clear.

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