Rich guys win again – what about you?
A large handful of highly unprofitable companies are going public in the near future. Lyft is just the first. And when they go public, a bunch of rich guys will get even richer. Nothing wrong about that, really…but sharing that kind of good fortune with ordinary people is exactly why iConsumer exists.
Unicorn: A startup company with a valuation greater than $1 Billion.
To make iConsumer and millions of shareholders work, we needed to take a different road — we needed to be pioneers going down a path with way fewer guideposts. As a consequence, we put ourselves firmly in the public eye while we figured it out, while most companies are relatively secretive during their early years. We have a quoted stock market price, for instance.
Lyft was founded in 2012. It took nine years for their big payday. Until then, lots and lots of patience. Peloton, founded in 2012; Uber, founded in 2009. Patience can be rewarded.
iConsumer was first able to make good on its basic premise of rewarding ordinary people with stock in September of 2016. So it really is early days for us.
We’re not saying that we’ll be a unicorn when we finally “go public” in a more traditional sense. But we’d sure like that! Watching the stock market price is fun and all, but it isn’t the focus of our energy. There is so little float that even $100 of stock trading hands swings the price dramatically.
Our focus is shopper growth. Building a fundamentally bigger and more successful business so that we have a shot at being a unicorn. It’s going to take more capital than we have, so we’re talking to prospective financing sources every day.
How will patience reward you?
4 Comments
Jeremy, April 3, 2019 at 12:45 pm
How much stock float is there really out there for someone to buy and sell via the stock market? Just curious.
Robert Grosshandler, April 4, 2019 at 10:02 am
Great observation. Not very much. That’s a result of our not really “going public” in the traditional way. Made worse by the fact that there are no big holders who want to sell yet. People who have invested in iConsumer, for the most part, view this as a venture investment, with a 5 – 7 year horizon. We’re really only in year 3.
Jeremy, April 5, 2019 at 8:17 am
Thanks, was just curious, if there was a float of 50,000 shares, 100,000, etc. In case someone truly wanted to buy on the open market
Robert Grosshandler, April 5, 2019 at 9:38 am
The OTC shows the float, and those shares “could” be sold. There are tens of millions of unrestricted shares held by entities that are NOT insiders. If the price were right, and they weren’t on vacation, I suspect they’d sell. There is always the opportunity, currently, to purchases shares directly from iConsumer, at $.15/share.