GlobAllShare Review: Shares in a social network?
There is no information on the GlobAllShare website indicating who owns or runs the business.
GlobAllShare’s website domain (“globallshare.com”) was registered on the 19th of September 2012 but only lists “GlobAllShare Inc.” as the owner.
An address in London in the UK is provided, however a Google search reveals virtual offices are for sale at this address for around $200 a month.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
The GlobAllShare Product Line
GlobAllShare has no retailable products or services. The company runs (or plans to at the time of publication of this review) a social network, with affiliates who sign up and recruit before the launch awarded “shares” in the company.
After the launch of GlobAllShare’s social network, affiliates will be able to buy and sell these shares amongst themselves.
The GlobAllShare Compensation Plan
The basic idea of the GlobAllShare compensation plan is that during their prelaunch phase, affiliates of the company will generate shares.
GlobAllShare shares its global profit with its users, who have contributed to the global growth and spreading during the pre-organisation period.
Shares are generated by GlobAllShare affiliates when the recruit new affiliates into the company:
If you have invited 5 of your friends successfully, you will get 1 GlobAllShare share straight away.
If directly recruited affiliates recruits five new affiliates of their own, another share is generated for the initial upline affiliate.
In a nutshell, you recruit 5 and earn a share, with additional shares being awarded to you whenever someone in your downline recruits 5 new affiliates (applying down seven levels of recruitment).
GlobAllShare state they will then pay out ‘70% of the global profit‘, distributed equally over the amount of shares generated in prelaunch and paid out to affiliates based on how many shares they have.
Note that after GlobAllShare’s prelaunch phase is over, no new shares are generated.
Affiliates are however able to buy and sell shares amongst themselves, with GlobAllShare using an example of $10 face value per share and stating that ‘the face value of the shares may easily reach $20 or $40‘.
Affiliate membership to GlobAllShare is free, with the company stating that
Registration is and will remain all free.
Putting aside the fact that beyond the shares offered by GlobAllShare and the attached promise of dividends I can’t actually see why anyone would use their social network, the GlobAllShare compensation plan raises some serious red flags.
First and foremost there’s the shares themselves. The generation of the shares is recruitment driven, and although no money exchanges hands it’s still the equivalent of a pyramid scheme.
GlobAllShare quite clearly promise larger commissions (technically dividends if we’re talking shares), directly tied into the number of new affiliates recruited into the scheme.
Then of course there’s the question of “where does the money come from?”
With membership being free it’s not coming from the affiliates themselves and as far as the GlobAllShare social network goes, it’s not coming from there either:
The use of GlobAllShare community is all free. Neither now, nor in the future will you have to pay for the use.
You may get services at GlobAllShare’s website completely free for which elsewhere you used to pay.
Free phone, free video-calls, live web-lectures, web-conference, video-email, SMS sending, games, films, music and all free you may create your own website or web-store, too.
That all sounds nice, but revenue wise it’s not generating anything. That leaves advertising as the primary (only?) source of revenue for the company.
Supporting this is the fact that Google Adsense ads currently feature on the GlobAllShare website.
A recent example of another MLM social network that tried to run a business model around Adsense revenue was Social Paycheck.
Social Paycheck was launched in December 2012 and offered affiliates a share of the advertising revenue the site generated.
Today Social Paycheck is no more, with Google promptly shutting down their Adsense account following the company’s launch:
SPC is sorry to inform everyone that we are no longer operating.
Due to losing our Google contract, we no longer have the income to operate.
Why did Google do that?
Well turns out when you’re paying your affiliates advertising revenue you inadvertently encourage them to click the ads your displaying.
This of course creates zero value to advertisers and naturally is not the kind of publisher Google want. And it’s not just Google either, any reputable advertising program will have no interest in providing revenue to a website that pays its members to click ads.
With GlobAllShare relying on the same advertising based business model to generate revenue for their affiliates as Social Paycheck, I’m tipping we’re going to see history repeating itself.
Although not publicised on their website, GlobAllShare have set their launch date for the 31st of March, with affiliates unable to generate any further shares from the 17th of June.
Via a prominently displayed counter on their website, GlobAllShare currently claim to have 1,044,670 users signed up for the service.
Wazzub is another… though they only promised a share of the ad revenue, and only to the earliest participants (plenty got chopped in the final selection).
Offering a legal share in the company for promotion is ALSO illegally offering securities for “sale” (in this case, not for money, but for labor). It STILL violates securities law in most countries.
Finally… CompaniesHouse.co.uk says there is no such company as GlobAllShare in UK.
tank you for the explication.
Just another scam, and very transparent too for people with brains.
It’s more than clear that it’s NOT a SOCIAL NETWORK or any other stuff of the kind, but just another SCAM, instead. And I make mine Ben Popov’s words when he says that it’s “very transparent too for people with brains”.
The money-shortage crisis is GLOBAL, therefore the solution needs to be GLOBAL and GAS (GLOBALlShare) is just taking advantage of the moment to sell their “FISH”, i.e. they do know that when people are desperate for money they tend to do whatever they feel is necessary (mainly to grab some in an easy way), regardless of the consequences.
“Pyramids” used to be good for “Pharaohs” only, but as nothing else than “LUXURIOUS TOMBS” for their dead bodies.
The whole idea is too suspicious moreso, with imposition of $19.99 as GAS account opening fee.
Well, if there are about 1,000,000 members they are going to get 20,000,000$…..not bad!
“IF” being the operative word.
Why would anyone believe anything GlobalAllShare says ??
Besides, they will only end up with all of the proceeds if they make no payments
I totally agree with all the comments.
My comments and questions are:
1. For the people: Who knows any stock market where we can shell or buy shares without a broker?
2. Many people will not shell or buy shares that they hold,but they will wait for the monthly income according to the numbers of shares of the earnings of the social site.
Lets say that 1,000,000 people hold 50 shares (average).
So, there will be about 50 millions shares.
Lets say now that the site has monthly earnings 4,000,000$
They will keep the 30% for themselves and they have to deliver 2.800,000$ to 50,000,000 shares.
2,800,000/50,000,000 = 0.056 $
To reach the minimum for a bank to bank transfer they will need about 357 months or….30 years.
If the company has 40,000,000/month earnings they will need 3 years.
To reach the 20$ that they already have paid !!
Wake up people !!
This is a total SCAM seomonitor puts the value of globallshare website at $31000.
How can they value each share so high. Where are their financial acoounts. Who audits them. Where are they registered. Who are their directors.
I think the fraudsters must be winding up and thinking of running away with the advertisement booty of last three years and $20 that they have scammed per gullible user.. lol.
I wouldn’t put too much faith in that.