[glbse] Rugatu Q&A

[paraipan]

Hi,
my name is Alex B. and i'm authorized by my partners to represent "Rugatu Q&A" publicly. I'm a regular guy always looking for new things and projects to keep me busy, while i look for a real job. I live in Madrid, one of the most resourceful cities in Spain if you look for talented people or "fiesta" at night. You can check out my my openid page to know more about myself, or even contact me with any questions you may have. Enough about me, let's get back on topic.

"Rugatu Q&A" is a private venture between three individuals, me being one of them, who joined forces to create a useful bitcoin service that people like and use every day. After having a spectacular launch on Friday (9th June), we are confident enough to say we did the right thing going forward with this project, even if we had some issues regarding it's feasibility. A while back we tried to look for funding on glbse, but without much success, so we still have our venture listed there after having the needed funds provided and the service launched. I think now is the right time to address some issues raised by community members regarding the lack of information on this project.

As you already know, or let me explain if you don't, Rugatu is a q&a (questions&answers) community that supports bitcoin rewards on every question. This changes a little the dynamic on how things work. By having something of value attached to a question (request), members of the community tend to be more responsive and eager to cooperate, when comparing with a to regular q&a community.

Thanks to bitcoin, a new way of exchanging information on the internet is created. The platform works like an "escrow" service between it's users, so that everyone can be sure that promised rewards get paid. The phrase, "Put your money where your mouth is." would be the base concept of this project.

And now, to address some points raised by RaggedMonk in one of our forum threads.

I'm interested in investing in your company, but am a bit hesitant about the lack of information.  Here are some questions I have:

- Who are you?  How many people are on your team?  What are their qualifications?

Thanks for your interest, we're starting to do some PR right now and address all the issues we may have left out. My name is Alex B. and i'm currently the Project Manager of Rugatu Q&A. We currently have three people in our team, including myself, that manage to keep everything working nice, even though sometimes we miss having some extra help on our tasks. We're all qualified managing and maintaining online services into operation with our current knowledge and expertise. At this moment I'm not able to provide any identity information about my other two partners because I respect their opinion not sharing it. Wouldn't want to rush them do it, but this will surely change in the future.

- Do the 10,000 shares constitute 100% of the company?  How many shares does the team plan on retaining?

The 10,000 represent exactly 10% of this venture. We plan selling more shares in the futures if we need to expand, up to a maximum 49% limit.

- What are your plans to grow and/or advertise Rugatu?

Our present timeline comprises fixing unnoticed bugs, implementing requested features and keeping up with user support. Future plans include service translation in every major language and increased functionality based on user feedback. We have original ideas to advertise this service and target specific demographics, or even create merchandising material for a broader audience but we lack the resources to do that properly, so we're currently only taking advantage of social networks and bitcoin based advertisers.

- What is your development roadmap?  If you make $1000 profit tomorrow, how will you spend it, or will you pay out dividends with it?  What about $5000?

I explained our current and future plans in the previous question. Regarding the funds spending, we consulted over this issue and we all agree on reinvesting 75% into service promotion, infrastructure and required personnel to keep the service running smoothly, other 20% would be used for paying out dividends to shareholders and the remaining 5% would be used for our personal expenditures.

- Which of the asks on GLBSE are the IPO (yours)?  the two 100s, the 887, and the 50?

The two 100s and the 50. The 887 one could be pertaining to someone who managed to acquire 1000 shares with 1 bitcoin, after one of us was "testing" the glbse platform the wrong way. We know we can't get our shares back now.

Thanks for your time.  It's great to see a truly innovative service on GLBSE like this.  

You welcome and thanks for your interest to invest in our venture.

[1714832449]

1714832449

[1714832449]

1714832449

[Polvos]

Good luck in your new start up. I will try to help you answering questions there.

[swissmate]

This website has potential.

[VEscudero]

Muchas gracias Alex, os deseo mucha suerte con vuestra iniciativa.

[Translates to: Thank you paraipan, I wish you luck for your Rugatu initiative]

[RaggedMonk]

Hey Alex,

Thanks for responding to my questions.  I love the service, and think I will use it a good deal. 

The only part I'm a little hung up on is the valuation:

10,000 is 10%, so 100,000 total shares.

Share price is IPO'd at ~0.24 BTC (around $1.39 per share).

This puts your valuation of your company at roughly $139,000 USD. Could you expand on how you arrived at this valuation?

[paraipan]

Hey Alex,

Thanks for responding to my questions.  I love the service, and think I will use it a good deal.  

The only part I'm a little hung up on is the valuation:

10,000 is 10%, so 100,000 total shares.

Share price is IPO'd at ~0.24 BTC (around $1.39 per share).

This puts your valuation of your company at roughly $139,000 USD. Could you expand on how you arrived at this valuation?

Yes, i can. It was a rough estimate between the founders, taking into account the base idea and bitcoin economic potential.


EDIT: Thanks for your support Polvos, swissmate and vescudero

[Ben Walsh (beamer)]

Interesting. I'm liking all the new opportunities coming up on GLBSE. Will be following your progress and hopefully investing.

[wirmola]

Hmmm, Idea is good but I think you over estimate your companys value..

[paraipan]

Hmmm, Idea is good but I think you over estimate your companys value..

You could be right there, have to agree. The market will finally find the right price,  I'm sure about that.


Thank you Ben Walsh, hope we meet your standards in the future and you get to invest in our project.

[OneSixtiethOfASecond]

Hey Alex,

Thanks for responding to my questions.  I love the service, and think I will use it a good deal.  

The only part I'm a little hung up on is the valuation:

10,000 is 10%, so 100,000 total shares.

Share price is IPO'd at ~0.24 BTC (around $1.39 per share).

This puts your valuation of your company at roughly $139,000 USD. Could you expand on how you arrived at this valuation?

Yes, i can. It was a rough estimate between the founders, taking into account the base idea and bitcoin economic potential.


EDIT: Thanks for your support Polvos, swissmate and vescudero

It seems like the valuation should be a function of expected revenue -- how did you calculate this?

[paraipan]

Hey Alex,

Thanks for responding to my questions.  I love the service, and think I will use it a good deal.  

The only part I'm a little hung up on is the valuation:

10,000 is 10%, so 100,000 total shares.

Share price is IPO'd at ~0.24 BTC (around $1.39 per share).

This puts your valuation of your company at roughly $139,000 USD. Could you expand on how you arrived at this valuation?

Yes, i can. It was a rough estimate between the founders, taking into account the base idea and bitcoin economic potential.


EDIT: Thanks for your support Polvos, swissmate and vescudero

It seems like the valuation should be a function of expected revenue -- how did you calculate this?

Please contact us by PM and we will provide any details you may need. Thank you.

[paraipan]

......

I appreciate your opinion gweedo but didn't expect you attacking us like this, after you tried making a stunt on rugatu. I wish you luck with your service. Good bye.

[Bimmerhead]

I like it.

I would have a lot of use for a site like this for automotive repair questions.  Often I have to go to various forums to find solutions for problems I'm having with one of my (old) European cars.  If there were different 'channels' on Rugatu (ex: BMW expert, small engine repair expert, linux troubleshooting expert, relationship advice, etc.), you might be able to recruit people to your site who have no familiarity with bitcoin, both on the questioning and the answering side of things, just because they need expert help with something or because they are an expert who wants to make some extra cash.

I wish you every success with this, has real potential to expand the appeal of bitcoin.

[paraipan]

I like it.

I would have a lot of use for a site like this for automotive repair questions.  Often I have to go to various forums to find solutions for problems I'm having with one of my (old) European cars.  If there were different 'channels' on Rugatu (ex: BMW expert, small engine repair expert, linux troubleshooting expert, relationship advice, etc.), you might be able to recruit people to your site who have no familiarity with bitcoin, both on the questioning and the answering side of things, just because they need expert help with something or because they are an expert who wants to make some extra cash.

I wish you every success with this, has real potential to expand the appeal of bitcoin.

Great, you got the same ideas about rugatu as we do. We're targeting all the experts out there that would like to make an extra for helping out others

About the tags, people can post their questions and our support team will create the appropriate ones for them, until they get the appropriate karma level and create them by themselves. Hope you get to test the service and give us your feedback on it. Thank you.

[memvola]

20% would be used for paying out dividends to shareholders

So, as owner of 200 shares, I'm entitled to 0.2% of 20% of all profits (0.04%), is that right?

[Sukrim]

Far too overvalued for my taste, but as you said the market shoud correct itself anyways.

Good luck with Rugatu, it seems like an interesting concept - hopefully it's really easy to use and you don't have a lot of coins in your hot wallet...

[tyler72]

Ridiculously overvalued.  Given a slice of the bounties and a few banner ads down the line, the site is worth <$1000 imo.  I would issue a ton more shares while there is still time and you don't have any competition.  gl with the venture though.  I've used the service and earned some btc.

[paraipan]

20% would be used for paying out dividends to shareholders

So, as owner of 200 shares, I'm entitled to 0.2% of 20% of all profits (0.05%), is that right?

FTFY Yes, that's right. We plan starting to pay dividends in aprox. two weeks and continue to do it at the same interval from that moment on.

Far too overvalued for my taste, but as you said the market shoud correct itself anyways.

Good luck with Rugatu, it seems like an interesting concept - hopefully it's really easy to use and you don't have a lot of coins in your hot wallet...

Yes, we respect your opinion. Thank you for your support and will take note on that advice.

Ridiculously overvalued.  Given a slice of the bounties and a few banner ads down the line, the site is worth <$1000 imo.  I would issue a ton more shares while there is still time and you don't have any competition.  gl with the venture though.  I've used the service and earned some btc.

Glad you liked the service and hope you get to see the whole potential it has down the road. Thank you.


Locking this thread temporarily.

Edit: Please use the feedback button on Rugatu to get attended personally by one of our colleagues. Thank you

Edit2: We're currently investing time and other resources promoting the service, so we will start paying dividends to our shareholders the moment we see some positive numbers on our balance sheets.