Posted on 02/27/2015 12:44:08 PM PST by FlJoePa
Edited on 02/27/2015 12:56:06 PM PST by Admin Moderator. [history]
You know those crazy get rich quick schemes that supposedly let you become a millionaire from your living room couch? That exact scenario just played out for Eric Martin of York, Pennsylvania.
Last month, Martin read about a new all-the-rage startup retail/tech company called Jet.com, which had been holding a contest to get people to sign their friends up for a preview version of its service. The startup announced that it would give 100,000 shares of the company to the person who signed up the highest number of people.
(Excerpt) Read more at money.cnn.com ...
I hope this works out for him.
There is a much easier course, involving no talent , no morals, and no brains.
Become a congresscritter.
Or better yet, become the president.
SELL NOW!!!!
I don’t think he can sell until the IPO.
“He noted that the shares are locked up until the company is sold or makes an initial public offering, so he can’t cash out just yet.”
So in reality he is out $18,000 and has nothing to show for it except a piece of paper that says he has 100,000 shares of currently worthless stock.
He’s either a multimillionaire or he’s out $18,000.
Yup. Pretty much. The possibilities are certainly intriguing though, no?
precisely. Until they sell....that could be an endless wait. He has shares in a shell corp likely not approved by the SEC.
They should offer this guy a job...VP of Marketing or something like that.
I’m working with a guy I met on the inter web. Seems really nice. He’s son of a Nigerian General who has $50 million locked away in Switzerland. He just needs my bank account and $20,000 to get it released.
I’m waiting for that to pay off ANY DAY NOW!!
It’s a “shopping club”
difficult to tell from their website if it’s MLM (Herbalife, Amway) or a Costo/Sams/Amazon Prime competitor.
How to make $4 Million in horse trading:
Start with $10 Million...
You got scammed, I talked them down to 15k.
I feel sorry for the person who spent only $17,000 and came in second. That has to sting.
Currently worthless stock that has already secured $220 million of investment money before going public.
Tell the thousands of Silicon Valley millionaires that that's not how it's done.
Well there are winners and losers. So we’ll see if they make it to the IPO stage.
As I posted at #11 it’s hardly a unique concept but who knows?
Looks like they’re trying to develop a shopping platform or marketplace where retailers can directly sell their products. Since his shares are basically worthless, judging from the look of the pages available on the site plus the enormous competition in this type of platform, my guess is there is less than a 0.00001% chance he will be able to cash in or get his money back.
I hope it works out well for him too. How many shares? 100,000 of 1,000,000 shares is wonderful. 100,000 of 100,000,000 not as wonderful.
He still only has a piece of paper. See if he can take it to the bank and get a loan on it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.