Wazzub continue to miss profit sharing deadlines
When Wazzub entered pre-launch in late 2011 the company initially promised to pay members $1 a month per member recruited and made a big deal about their ‘profit sharing phenomenon’.
Within a few short months this $1 commission was quietly scrapped and the company rephrased its commissions structure around what they now call a ‘success sharing phenomenon’. This meant that the company was willing to pay members 50% of profits generated by Wazzub.
After seven or so months of prelaunch and the fixed launch date of August 1st 2012 just around the corner, today we take a look at where Wazzub and its ‘Perfect Internet’ is at.
Commission wise Wazzub were supposed to start paying their members on May 15th 2012. This was then pushed back to June 15th 2012 however a webinar on May 25 confirmed that members would not be getting paid on June 15th either.
Why?
In May we (Wazzub) generated only about $2,000 and our net profit will be negative. That means there will be no profit to be shared for the month of May.
The number of users who visited and used our home page in May was very, very low. Because of our new time line we have had only 10,000 daily visitors on average at perfectinter.net.
To put this dollar amount into perspective, Wazzub claim to have over six million members. Even if we round this off to six million however, $2,000 a month in revenue still equates to just 0.03 cents generated per member.
As it stands this isn’t even enough to cover Wazzub’s own operating expenses, so members don’t get paid.
Looking forward to the July 15th pay date, realistically it doesn’t look like things are going to improve much.
As per Alexa (keep in mind these are only estimates), perfectinter.net’s traffic is thus far up 59% this month compared to May. Unfortunately though traffic wise most of this appears to be coming from African nations.
Australia is probably the first recognised western country (economics wise) coming in at #35. You could I suppose count Finland at #12 but traffic value wise all of the countries above Australia at 35 aren’t going to generate much revenue as far as advertisers or global e-commerce goes (the bulk of Wazzub’s revenue generating model).
Further analysing Wazzub’s membership numbers, out of the six million plus members they claim to have (of which “thousands” have been reported as fake accounts by the company), only 30,000 or so (0.5%) have qualified to earn commissions.
Members were initially told that in order to earn commissions all they had to do was sign up and use perfectineter.net however this later changed to
- recruiting enough members so that you had at least three members five generations deep in your unilevel structure (someone you referred then referred someone, who referred someone, who referred someone, who referred someone x 3) and
- having to hand over proof of identity documents to Wazzub (which were then supposedly verified by Wazzub, despite the unrealistic amount of effort this would take given Wazzub’s global memberbase)
Even at 30,000 qualified members though, 50% of the $2,000 generated in May (Wazzub will only share 50% of generated profit) still only equates to 3.3 cents per member.
As per today’s webinar this 30,000 qualified number is now fixed for life and the company is no longer accepting any new profit-sharing qualified members, meaning that again out of the 6 million members that signed up just 0.5% bothered to qualify for their share of profits Wazzub aren’t generating.
Wazzub themselves seem to not be that confident in their ability to generate profit with DaCosta announcing today that as of yet Wazzub have no payment processor agreements in place. Apparently Wazzub profit qualified members are going to vote on which payment processor(s) the company should approach at a later date.
Even with a fixed launch date of August 2012 I’m not really seeing how this is going to take off. It’s been seven months now with perfectinter.net being up for a while (a few months) and the interest just doesn’t seem to be there.
I predicted this way back in my December 2011 review of Wazzub given that all perfectinter.net is is a bog-standard search portal cluttered with daily deals and advertising. Hardly innovative and a dime-a-dozen.
As it stands if I had to make an educated guess I’d say most, if not all of the visitors to Wazzub are currently members with very little to no external non-member visits.
In their latest webinar there was a good deal of time spent re-enforcing how lucky the currently qualified Wazzub members were. Host Gee DaCosta also took great pains to warn members against sharing the profit-sharing model (referred to as a “secret agreement”) with new “average users” of perfectineter.net because ‘it would just confuse them’.
With no clear business model other than “increase our non-member traffic to generate more revenue despite the fact that our current traffic is primarily coming from non-revenue generating countries and that we don’t offer anything unique or of value to a non-member end-user”, I’m pretty sure non-member perfectinter.net users aren’t the only ones who are left confused.
Most internet startups take a few years to get going and that’s usually only if they’re bringing something new to the table that is either a vast improvement to an existing services or something entirely new.
Wazzub (perfectinter.net) being a standard search-portal (provided for free by search-engine aggregator ixquick.com) with third-party affiliate deals plastered all over it is neither.
Out of SIX MILLION members, only 30000 gets to share in any profit, heh?
That’s HALF of one percent.
Wonder what the other 99.5% are going to say about Wazzub now?
They either couldn’t recruit a big enough downline and/or failed to provide Wazzub with identity documents. I’m guessing not much.
Where did you get that 30K number though?
Wazzub had a new webinar 8pm US time this evening.
There’s supposed to be another one on Wednesday I think that’s going to be dumbed down for non-profit qualified members which aims to encourage people to use Perfect Internet without mentioning the profit-share behind it.
NOt feeling very confident in Wazzub anymore. Back in January 2012 I could hardly sleep with spending so much time marketing the PSP.
They made a huge mistake by changing the name to perfectinter.net
The problem with many is that I believe they might not be able to recruit as many downlines.
The whole concept is flawed from the start. Took Google 13 years to get to its current level. Took Facebook a little less, but not THAT much less. Both offer genuinely helpful services.
What does Wazzub have? Nothing.
The PU is now telling the Profit Sharing Members (PSP) to not disclose any mention of it so as to not make those jealous who didn’t send in their POI.
I am now thinking that the full blown launch is going to be delayed for some reason like they couldn’t secure the ad spaces to run their massive world wide ad campaign. I am going to blow the whistle on them in the hopes to put an end to there continued lies and hopeless hype!
Is this potential injection of funds by profit sharing members what was discussed on the latest July 2nd call? I noted that they didn’t provide a public link to this call but rather told members to check their backoffice for the call.
At the time I noted it was a bit strange seeing as they’d made all previous calls public. If they’re trying to keep this hush hush though, then it makes sense.
It is so sorry it’s laughable! They do not want any of the regular members to know about it other wise they will get jealous that they didn’t have the opportunity to invest their money into this sinkhole of a program!
Now they are saving that they are going to cut if off when they get 20,000 shares spoken for but you can send in the funds when you get a chance.
In a week or so they will announce due to the heavy demand and the complaints from the Success Sharing members they are going to open it up to all members for another two weeks but all shares will have to be paid for by the end of that1 period!
Also heard that someone reported them to the US Security Exchange Commission and also the Federal District Attorney for Clark County, Nevada for them to start an investigation!
All i can say is that they say it will be free forever and why are they asking people for any $$$ now when you say free forever.
They are thieves i believe so people beware and leave them alone with there crab
it is a sad day when someone that was a valued member sneaks around bad mouthing the same company that he thought was the best thing since pockets on a shirt….
privileged information that is for personal use only should be just that..privileged and kept in confidence….
as with any start up venture there are sure to be problems to be addressed before final launch….one should be man enough to talk to the proper people before making snide remarks.
Sadder still when those who have been denial ever since Wazzub was launched now have to come to terms with the fact they’re going to have to pump money into it if they ever hope to earn anything.
“Free Forever!” my arse. Being “just another useless search portal”, Wazzub was simply not sustainable or even viable from the beginning.
Proper people? It might have been exactly what they were looking for in the first place.
Offering of PRE-IPO shares was partly predicted already in January, as one possible motive for registering the “fake” companies (real companies, but with faked value).
My first comment was “It wasn’t exactly a surprise” when I first read about the possibility to invest money in Wazzub. I’ll be more surprised if anyone in Wazzub really believed it was a secret?
We are relatively positive to investments like that, if the members can use their payment from May, June and July to pay for the shares, and if they get the “Preferred stocks” (the stock that has the right to dividend etc. before the other stock).
As far as I remember, GIT Global Investments Inc. had $60 million in registered PRE-IPO shares (shares not paid for).
* 3 million “Preferred stocks”, par value $10
* 3 million “Common stocks”, par value $10
Looks like some people really are realizing it’s a lost cause. I have had people approach me on Hubpages, where I wrote that long hub explaining why Wazzub’s a shady enterprise.
They said they are no longer associated with Wazzub and can I please stop publishing their info. I checked… I didn’t publish their info… some OTHER commenters did. 🙂 So technically it ain’t my problem! 😀
All along it looked to me like the next big list builder. That’s a huge database of email addresses that they can offer up for sale.
Guess they ain’t make much on selling that e-mail list.
Wazzub’s “Michael A. DeBias” had thrown his support into Ultimate Power Profits, as his domain, makemoneywithnocost.com, now forwards to that with his own referal link, instead of Wazzub.
(Thanks to a tipster for the lead)