No more stock market plans: myWorld has no perspective and no credibility!
For years, myWorld has been promoting the alleged imminent IPO – a plan that increasingly appears to be a failed marketing tool. The latest developments highlight the company’s deep structural problems, which not only question its credibility but also raise the question of whether an IPO was ever seriously planned.
Although myWorld is propagating a success story to the outside world, internal insights and discussions paint a different picture. The company is financially unstable and, according to its own statements, is lagging far behind the economic targets necessary for an IPO. In official statements, it is said that the company must first reach the 2019 level before such a step can even be considered. These admissions are in clear contradiction to the optimistic messages that have been spread in calls and at events for years.
A fundamental problem is the lack of transparency. For a successful IPO, companies must provide detailed financial reports and meet strict regulatory standards. However, this does not appear to be the case with myWorld. Contradictions and inaccurate information seriously damage the company’s credibility. It is particularly striking that there is no evidence of a listing approval to date – an essential step that would have been taken long ago if the plans were serious.
However, the criticism of myWorld is not limited to the lack of a stock exchange listing. The entire business model is under fire. Instead of concentrating on stable revenues from the core business – building a shopping community – the company relies heavily on recruiting new Marketers and selling packages. This approach is often referred to as a pyramid scheme and has already led to legal disputes internationally.
Particularly questionable is the treatment of the marketers who form the basis of the company. They were repeatedly encouraged to contribute to the growth of the company by buying packages. At the same time, they have been accused of merely relying on incentives instead of actively building communities. This is a mockery of the so-called shareholders. This contradiction has deeply shaken the trust of many participants. According to the information available to us, around 40 Marketers from the USA have jointly submitted a complaint to the American Federal Trade Commission (FTC). Each of them has invested hundreds of thousands of dollars in the Share programme. Nevertheless, their access was summarily blocked, and both VIP support at myWorld and their direct uplines are no longer accessible.
In addition, myWorld keeps announcing new projects without ever presenting any tangible results. The last thing was a necessary ‘restructuring’, which is to be financed by the marketers’ funds. At the same time, investments in technologies and a so-called AI project are promised. However, these statements raise the question of whether myWorld even has the innovative strength to be competitive in the long term.
The consequences of these uncertainties are clearly visible. In internal chats and forums, the frustration of Marketers is becoming more and more apparent. Statements such as ‘We are just being put off again’ or ‘Lyconet was perhaps the biggest mistake of my life’ reflect the deep disappointment. Many see the purchase of shares as almost worthless, as these are only offered on internal trading platforms at questionable conditions.
The company’s communication is also doing little to allay concerns. In recent calls, issues such as the failed IPO were only touched on briefly, while the focus was once again on promoting new packages. A question and answer session was deliberately avoided – an approach that reinforces the impression that transparency and openness are not among the company’s priorities.
Ultimately, the impression remains of a company that operates with empty promises and is unable to get a grip on its actual problems. Without fundamental changes in strategic direction, financial stability and communication, myWorld will find it difficult to regain the trust of Marketers and potential investors. A serious IPO remains unrealistic under these circumstances.
This is by no means everything – the revelations for marketers continue. Stay tuned!
If you have any questions or require further information, please contact us at [email protected]
Please note: And as always, those affected are welcome to comment on this, or if someone has more or different information, they are welcome to share it with us. We are not interested in making false claims and our primary goal remains the provision of complete documentation.
Source: bekm u.a.
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