Bidify changes it's compensation plan - its going to be a typical MLM company
In a recorded phone call with Bidify's management, Kevin Thompson and two of the top members it was announced that Bidify's model is going to be changed.
The entire business model was definied as a Ponzi. This affects every member involved in such business.
Additoinal information can be found of some of the most trustly resourses around the internet.
1. BehindMLM
2. The Recorded phone call with Bidify and Kevin Thompson
The full newsletter from Bidify:
Bidify Newsletter!
The past few days have been very busy for the entire MLM industry. As
many of you know, our specific niche was rocked last Friday when it
became known that Zeek Rewards, our main competitor, was shut down as an illegal ponzi scheme. After reading a few reports, it appears that Paul Burks, Zeek’s founder, is not contesting any of the allegations in the SEC’s complaint. Assuming those allegations to be true, this is a tragic event for everyone involved with Zeek.
Unfortunately, since we’re also operating a network marketing company
in the penny auction arena, our name has been drawn into the mud with
Zeek. We understand that many of you have questions and concerns about
our business model. We understand that many of you want to know
specifically what factors distinguishes us from Zeek.
Well, for starters, we’re not lying to you about the numbers. We
publish our earnings daily. Those earnings drive the daily profit
rewards. Second, our bids are actually being used. With Zeek,
it has been alleged that only 0.25% of the bids purchased were every
used. It clearly shows that the bid purchases were merely token
purchases designed to conceal a money transfer from late investors to
early investors. On Bidsson, the bids are actually being
used. We have built an amazing technology platform and when we release
our mobile applications, it’s only going to get stronger.
But we understand that these differences alone are not enough. We
understand that no matter how hard we try to force affiliates to move
sample bids to customers, it’s going to be nearly impossible to prevent
people from promoting the program as an investment. In reality, Bidify
is NOT an investment. However, since there’s so much profit generated
on the penny auction side of the business, and when people rack up a
portion of those profits by providing sample bids for customers, it’ll
always be viewed as a passive investment.
We realize that now, and we’re committed to putting an end to it.
After having countless meetings between management and our legal
counsel, we have developed a revised business plan to protect the
longevity of the company while keeping it a very competitive and
lucrative opportunity for the masses.
After serious discussions, we have decided to eliminate the leadership
bonuses from Bidsson. We are eliminating the ability for people to
purchase and give away sample bids. While it served a valid purpose in
generating activity on the Bidsson platform, it creates the
most exposure. And quite frankly, given the excellent condition of our
technology and our recent success with Bidsson, there’s
really no need to be giving away so many free bids to customers. We
offer an excellent deal for customers, one that they’re willing to pay
for.
We’re eliminating the daily leadership bonuses and turning off the
re-purchase. We feel this was the cancer. This has led affiliates,
both in Zeek and Bidify, to refer to their
commissions as “compounding” when in fact it was a function of a simple
commission based on customer activity. In order to cure the cancer and
eliminate all confusion, it must be removed.
In order to make it more lucrative to buy and sell bids for everyone,
we are putting together a new bonus plan based more on a traditional
MLM, one that will not lead to improper positioning in the field.
With all existing affiliates with bonus points in their back office, we
are creating a new pool where we will continue to share profits from
Bidsson. These bonus points will trigger a piece of the profits from Bidsson
indefinitely. The size of your profit sharing stake will not grow.
It’s our way of honoring our commitments to you. We want to make sure
that your experience is consistent with your expectations when you
joined.
We will continue to build Bidsson to become the biggest penny auction
platform in the world, and we will continue to reward affiliates for
helping us promote it.
We will take down the website to implement these improvements. Stay tuned. We do these changes to make Bidify a long lasting opportunity for everyone.
We are committed to offering the safest model possible and cannot offer anything less.
We will be holding a conference call with Kevin Thompson, our legal
counsel, where we’ll discuss these changes. He’s been given free rein
to be candid during the call and shoot straight with everyone. It
should be a good one!
Kind RegardsBidify Management
