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The Journey To The IPO

written by John Chow on April 9, 2007

How one lazy bum made $176,697.50

OK! This will rank as one of the strangest ReviewMe reviews I’ve ever done. Why is that? Because the blog requesting the review, IPOJourney.com, has a grand total of two posts. That’s right, two posts.

It’s very easy to review a blog when it has a lot of information for me to critique. However, giving me two posts to work with doesn’t give me a lot to write about. However, IPO Journey doesn’t want me to write about the blog. Instead, they want me to tell you about the concept behind the blog.

What Is IPO Journey About

Using the tag line “Let’s try to get rich together,” IPO Journey seeks to get a bunch of people together, build a company from scratch, and have it become an IPO or be bought out. The foundation as to what the business will be based around is the domain name www.insane.com. Those that help build the business will in turn receive shares for their work. If someone designs the logo, he will receive shares in the company. If someone creates software used by the company, he will receive shares. If someone comes up with a business idea on what Insane.com can do to make money, he will receive shares.

If all goes well, Insane.com will become a big hit and everyone involved will get rich from the IPO or buyout. IPO Journey will be the blog that documents the trip from concept to IPO.

What Is Wrong With IPO Journey

Where do I begin? First, we don’t know who started IPO Journey or Insane.com. The site is not associated with any names and the blog has no contact information. The person who sent the review request never gave his or her name. The two posts at IPO Journey lack “posted by” information. A WHOIS search for Insane.com revealed that the owner is hidden behind a private registration service. IPOJourney.com is registered to a company called Net Marketing 2000, which is a one page site with no real contact information.

Not only do we not know who runs IPO Journey, we don’t know how to become a part of the concept. There is no sign-up form or “how to get involved” page. I can only assume that you participate by commenting. The author does ask for business ideas in the first decision post.

If the object of IPO Journey is to get people together in a collaborative effort to start a new company and take it to IPO, why does the blog have Google ads? That seems completely counter productive to me. The object is to get people to join the IPO effort, not leave the site by clicking on a Google ad.

At the end of the day, I cannot figure out if IPO Journey is serious about what they’re doing or not. The entire project seems slapped together without much thought or care. The idea of a collaborative effort to take a concept from startup to IPO is a good one. However, unless IPO Journey completely revamps the site to create a lot more trust and transparency (and a way for people to participate), they’re not going to be the one to do it.

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I hate when a review requires 200-300 words and only has 3 sentences to pull information from, it gets old quick.

I think it was a waste of money. You will get the traffic now, but it was too early and you do not have enough content to make the readers return to your site.

Its hard to review a concept let alone a concept thats been half-assed. So it was a good review.

Dude! That was an easy $300 :D

No it wasn't. Believe it or not, it's harder to do this review than any other.

I can see that. More thought has to go in it because you have no material to work off of.

Yeah, when I get into ReviewMe, I'll reject blogs with no posts not because they don't have no content, but because I won't have any idea what to write. Ok, I may write one review like this one.. evil :evil:

Judging on your other reviews, I'd believe it.

I hear you -- would’ve been easier if there was more to work with. Good work anyway, John, congrats! :cool:

If collaborators want to do that they should join Trendirama instead. Although we have a lot to improve, at least we are on the way already, the idea is original, clearly explained and has great potential. (think quality of posters-readers on that site compared to quality of readers/posters in youTube or digg)

Click's potential value to an advertiser and quality of visitors may well be the main standard to value internet companies, rather than page views.

As Schwarz said "what is the value of a click towards your website from someone that can buy a plane from you?" How much would you pay to attract that visitor?

Quality is the key in the future, not quantity. And whatever you do, you still need some good business idea behind your site to begin with...

regards

You guys are great :razz:

Re: selling the domain, of course I'm open to the potential of selling it. LOL why wouldn't I leave that option open? I'm sure John Chow would sell TTZ if the money was right. Heck, any company, any where in the world is for sale, at the right price.

This $300 has been very well spent, those that don't see, well they just don't see it.

no, i dont think those 300 dollars have been well spent. you might have gotten 10k of unques today but most of us arnt coming back. including me.

seriously dude, your site sucks.

oh man, you didn't even like the design? I thought it was "neat" :grin:

''Neat'' it is, but you might want to fill that empty sidebar..

He owns the domain insane.com he must be doing something right...*shrug*

the dudes trying to sell the url for 250k
lol. i dont think anyones going to buy it. i mean maybe a url like fishing.com is worth that but not insane.cim. i mean thats rediculous.

There could actually be light at the end of the tunnel here. There’s plenty of time/opportunity to revamp the site. :smile:

I think, that $300 was well spent judging from the response to this review. Reason being it will generate traffic for days if not weeks. People will be curious to see what happens. $300 is nothing to spend on marketing.

JC is a businessman and as a business person why would you turn away money for a review that allows you to be guilt free.

I think this was an excellent example of making money online not just from JC but also from the person who spent the $300.

let him make money.. why are you people pissed off?

lol...more power to him if he can make money with it!

That's the purpose of the review. If John has to visit the site, read the posts and then decide not to review it, didn't he just basically review it?

My question is, when you get a reviewme request, how much of the site do you look at before you decide to review it?

Look if someone walks up to you and says I'll give you $300 to try this new Cola drink and tell me what you think, would you do it? You can't drink it and then say you I don't review Cherry drinks and walk away. Well, I guess you could, but that would be stupid.

Although the site had 2 posts, John still gave his usually high quality review with insight on what they should be doing. He could have easily just blasted the two posts and talked about the site layout or something. He did research to find out the registar, owner's name, etc... He still earned his $300 (or rather $150). :wink:

I would also add that it was well worth it from the advertiser's perspective as well. I don't usually visit John's reviewed websites unless they're of personal interest, but I had to visit this one just because of all of the discussion. I'll be that he got more traffic from this than most reviewed websites get.

I see nothing wrong in reviewing a bad site, as long as it falls within the subject of this blog: making money oline. Which it does, in this case.

Eh I went to the site for 2 seconds then left.

I guess publicity is publicity -- the site is getting a lot of attention and perhaps that’s that main objective.

Looks like the guy/girl is shooting in all directions: trying to launch a new concept of making money but at the same time listing the insane.com domain for sale...

The site's actually picking up on content and readers. Slow but steady -- this could be the start of something. :shock:

See, best $300 he ever spent! :)

John - did you try firing off an email to get more details before writing the review? I don't have any issues with you taking the money if the product really is that bad, but you could have given them a bit of a chance to explain themselves and to get VFM

When requesting a review, you the reviewee has every opportunity to give more information to the reviewer. In addition, JC has his email addy available. The burden in this case needs to be on the person asking for the review.

He clearly did not think it all through, which is a reflection on him, not John.

Just because they didn't think it through isn't a good enough reason to take their money! Well, not for me anyway

Im thinking someone just wasted $300 bucks.

It is definitely that persons fault. If you dont want a negative review, dont have so many faults in your site/idea.

Personally I would feel a bit bad about taking this persons money because they are clearly not getting the attention they want for the money they paid. Only thing i can think is that they didnt know what they were doing when they ordered this review. I would probably try and give a portion of the money back and tell them to order another review when they get their crap together. With review me involved im not sure thats possible though.

Judging on the site, the review isn't the only thing he hasn't thought through...

There was no email for me to contact. My ReviewMe control panel just shows the site URL and the message from the customer. Most customer will leave their contact info in the message.

Hey, if somebody's going to be an idiot and hand you $300 to discuss a poorly-conceived web site, why shouldn't you take it?

Of course, as a public good, you could use some of that money for a contest.... :twisted:

This whole discussion is useless now that the reviewee expressed his great satisfaction with the review :cool:

guess what, the domain name is listed for sale both on sedo.com and afternic.com. See for yourself:

http://www.afternic.com/insane.com

http://www.sedo.com/search/details.php4?domain=ins...

monetize the comments! $5 for each comment!

That would kill the comments, but he could put ads in the comments - like Kontera...

I'm not sure how that could be accomplished :neutral:

First he had the 300 bucks which was good for John Chow. Why would I refuse 300 bucks to tell you your site isn't all that.
For most, they'd not be too happy doing that review but I would have done it .Hey if anyone wants to offer me the 300 bucks now ,I am ready.Just don't blame me if I say something not nice.

that dude is insane. people will only join if they have a since of security and they wont have one if they dont even know the owners name.

I thought the prospect of the general idea sounded OK, but having read how much of a scatter brain he is I'm glad I never put any time into it!

I support the decision of John Chow to do this review. It was interesting, plus there are lessons to be learned here - such as if you want to market something, make sure you know what it is first!

agreed i like hearing about sites with stupid ideas so i can laugh at them

Some stupid sites turn out to be great in the future.. any examples :?:

Wow! $300 to get your awful site slammed by John Chow. I would have written about how bad the site is for free!

Kumiko

its going to be a smash hit :lol:

Go for it Kumiko, I doubt he'll mind the extra publicity. Remember, there's no such thing as bad publicity.