Vapetropolis Colored Coin IPO - Original Thread:
https://bitcointalk.org/index.php?topic=609682.0:
Instructions for buying IPO shares (process is very simple):1. Create a Colored Coin Wallet at
http://www.coinprism.com2. Fund your Colored Coin Wallet with bitcoins
3. Send Bitcoins from your Colored Coin Wallet to
1LzUY9zPp1iSabwr4aUwUezSGe5aC4Wmhh4. Wait for shares to be sent to your Colored Coin Wallet.
IPO DetailsThe sale will last
30 days or until all units have sold out.
Backers will receive additional shares based on the following incentive structure:
1st week: 30% bonus units
2nd week: 20% bonus units
3rd week: 10% bonus units
4th week: no bonus
300,000 public shares represents 30% ownership of Vapetropolis.
1,000,000 Total Shares
1 share = 0.0002 BTC
Dividends – All profits from bitcoin sales will be distributed as dividends to shareholders on a monthly basis. Please note our dividend strategy may change in the future. (currently all sales are in bitcoin, however we are adding credit card payment solution asap.)
As a shareholder, you will be entitled to a portion of all profits generated from Vapetropolis and any future entrepreneurial activities.
Minimum investment to receive dividends is 100 shares = 0.02 BTCedit:
Shares will be distributed at the end of each day. So Please make sure you have sent bitcoins from a coinprism wallet. http://www.coinprism.comAboutVapetropolis is an online retailer of vaporization products. Vaporization is a technique for avoiding irritating respiratory toxins in marijuana smoke by heating cannabis to a temperature where the psychoactive ingredients evaporate without causing combustion. The company is based in Canada but provides shipping of its products to the United States, United Kingdom as well Europe and Australia. It began doing business in November of 2012. Sales have grown significantly since then and in February of 2013 we began accepting bitcoin. We have generated over 70 bitcoins since then. However, in late October, paypal refused to do business with us, saying they do not allow the sale of e-cigarettes and vaporizers. Vapetropolis then turned Stripe to process our credit card payments, but they also refused to do business with us after a few sales. Our website has been surviving on bitcoin sales, but the volume is not near the volume we were doing prior to the paypal event.
Growth StrategyOur strategy to grow the business is to set up an online credit card payment solution immediately and focus more on gaining international sales. In Canada, e-cigarettes and vaporizers are sort of in a regulatory grey area at the moment. Currently we have been struggling to open a merchant account that will process vaporizer sales as Canadian banks have been denying e-cig and vaporizer retailers. From all the merchant providers we have talked to, they have suggested we open a U.S corporation and virtual office. This will allow us to open a U.S merchant account in which we can process online credit card payments as they are less strict in the U.S.
Our marketing strategy will be to focus on search engine optimization and new forms of paid advertising. Starting an affiliate program is also high on our agenda. We may also hire a professional marketing consultant to help come up with a viable marketing strategy that produces optimal ROI.
We are also interested in marketing towards the bitcoin community as conversion rates are fairly high. Buysellads.com has a growing number of bitcoin sites that we can advertise on, and we are specifically interested in coinmarketcap.com
Vaporizer MarketThe market size for vaporization products is difficult to estimate because of how quickly it is growing and a lack of consolidated statistics. The e-cigarette market for example is on target to have doubled in size this year; to $2 billion. TAM (total addressable market size) for portable vaporizers, not counting e-cigarettes, is likely to be around $500 million.
Top Brands are Volcano by Stors & Bickel, Arizer, Davinci, Magic Flight Launch Box. Many new vaporizers seem to be entering the market almost every month indicating a lot of hype around the industry particularly because of new favorable regulations in the U.S. decriminalizing the use of marijuana.
Operational CostsCurrently our only operational cost is web hosting. We use xpcwebhosting.com at 19.95 per month. However, we are considering upgrading to cloud hosting to provide better service to our international customers.
Use of FundsThe funds will be used accordingly:
1. Set up U.S corporation, virtual office, merchant account, U.S bank account to be able to accept credit card payments again.
2. Revamp marketing of website to increase website traffic and conversions.
3. Upgrading infrastructure to support worldwide shipping and optimize website.
4. Possible development of new portable vaporizer.
5. Implement future strategies to grow the company.
Bitcoin Sales since April 2013: https://docs.google.com/spreadsheets/d/1cLjBa3DwxeepkahVtRzLgzPXtugPqvH67xFIzcrr24Q/pubhtml*we've used mtgox to process bitcoin payments prior to using bitpay, but we do not have that data available.
Website Revenue to date: http://imgur.com/Hybu6ZCIf you have any further questions please ask them below or contact us at
vtropolis@gmail.com. Thanks!
