Shipit

• Researcher:  Goku Yilmaz
• Score:  0
• Date:  June 04, 2018

Analysis

• Their old product website is Russian. They have a new ICO website in English.
• The company location shows both in Russia, Chile and San Francisco. In different platforms?
• Doesn’t seem to have a proper location.
• Company founded in 2015 as a norma startup, then turned into an ICO soon.
• They have ICO advisors and temporary or fake team members to raise money.
• Most team doesn’t state they are working on this, in Linkedin or somewhere else. Except their website and ICO page.
• Team has 4 on operations, 5 on tech, 5 on marketing.
• They are spending a lot of time going to conferences and networking.
• Does this business need a token? No.
• Is it a protocol or platform? No.
• No code written in Github.
• Raising soft cap of $3M and hard cap of $24M. They are too early startup for anything over $5M.
• Uses shipit tokens for payments, they believe a decentralized currency will have benefits shipping internationally.
• Private sale will continue until June 30th of 2018. At this point, the company will enter the pre-sale portion of the process. Has a 55% bonus.
• Private sale min amount $10K
• They have a iOS app with only 1 review. Google Play app with 500 downloads. Its live and updated since 2016, don’t know why no one is using them.
• They say they won’t ship drugs and illegal things. Which seems like a good thing, its risky for the shippers.
• 12 useless advisors, red flag.
• They seem to have friends or fake accounts boosting their topic on bitcoinforumtalk.
• The claim to be 2x cheaper and faster than other platforms, it does make sense. The operations model could work.

Conclusion

Semi legit startup going after a good market with high chance of failure because of slow execution speed. But also an ICO opportunist.