Zurker.com is a new name in the list of social networking site after Facebook and Google+. It was just launched in January 2012 but it already has got everyone's attention due to it's business model.
For the first time ever, a social networking site is offering equity shares to it's members. When you signup, you all get 1 share which is equivalent to rupees 50 and yea, when the company goes public in March after distributing 1 miliion shares, they can be redeemed for money.
I really liked the democratic concept of it and with much difficulty have managed to get an invite.(It is still in beta and you will need an invite to signup. Also shares are only awarded for free during the beta signup).
If you want to signup too, here is the official invitation link:
http://www.zurker.in/i-1758-snajsjxxuj
Click on it and you will be redirected to the signup.
Signup and who knows when that rupees 50/share would be 5000/share. And not kidding, with Facebook IPO coming up in April, social networking sites would be a hot property.
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Thanks Sandhya. I am glad you liked it. I really like the ideology behind it. It is smart and win-win situation for everyone involved, if it works. And even if it doesn't, I am sure you won't repent the 5 minutes you wasted on signup ;)
Thanks Arun For your Nice data you have share here on the social networking Site.I am not interested in such a site they only make a money for themself and we fool use it and our hand remain empty.
Thanks Sandhya. I am glad you liked it. I really like the ideology behind it. It is smart and win-win situation for everyone involved, if it works. And even if it doesn't, I am sure you won't repent the 5 minutes you wasted on signup ;)
Hope to see you and other members there.
Arun,
No one believe. I have never gone through Orkutt, face book or any other social network, Only because I am not interested. I have no idea about them. It's the actual truth.
Yet, as you have told, I will go to that link for sure :)
I have a question here.You are saying that the company goes public in March then how can it allot shares before that? Under the provisions of the Companies Act,1956,it's not possible.Second question relates to redemption - equity shares are never redeemable? In fact I am coming across this for the first time in my life!!Under the provisions of the aforesaid Act,a company can't buy back its own shares normally but now it's possible under the leatest dispensation that too within the strict parameters laid down by SEBI Guidelines on this.
I have a question here.You are saying that the company goes public in March then how can it allot shares before that? Under the provisions of the Companies Act,1956,it's not possible.Second question relates to redemption - equity shares are never redeemable? In fact I am coming across this for the first time in my life!!Under the provisions of the aforesaid Act,a company can't buy back its own shares normally but now it's possible under the leatest dispensation that too within the strict parameters laid down by SEBI Guidelines on this.
If it is not an Indian site, SEBI instructions are applicable?
Our Company law provisions are all modelled on either British or other European countries.What I am asking is very basic irrespective of any country. How shares could be allotted before these are up for allotment! Actually any company looking to raise money through public issue route has too follow a statutory process. A company invites public to subscribe for shares,more precisely we make offers to that company and it's for the company to accept or reject it!!
Years before in 2002, when Manappuram Finance came into existence in Thrissur, gold loan was given to people only those who take shares from them. ie. I think, shares were offered in a low cost ie. 1 rupee per share.
Was it possible at that time? I don't know whether it was a limited company that time.
Many people took shares just to serve the finance institution(Company?).
One and half year before, people who took shares at 2002 got their shares multiplied.
Those who purchase for Rs.5000 got 27 lakhs in return after 8 years. :woohoo:
There were people who purchased for Rs. 1 lakh that time. Many people of this district got this fortune...It is a true story.
How is it possible?
I have a question here.You are saying that the company goes public in March then how can it allot shares before that? Under the provisions of the Companies Act,1956,it's not possible.Second question relates to redemption - equity shares are never redeemable? In fact I am coming across this for the first time in my life!!Under the provisions of the aforesaid Act,a company can't buy back its own shares normally but now it's possible under the leatest dispensation that too within the strict parameters laid down by SEBI Guidelines on this.
Chinmoyji, what they are offering now is vshares and you will get vcredits in your account which you can redeem to buy company's share when it goes public. Here's link to the official page which may answer all your query:
