Allyos is a global mobile application running on the 2 major mobile platforms (iOS and Android), managed by Allyos Ltd, a software development and technology company headquartered in Dublin, Ireland. The idea of Allyos was created by Joe Bitter and Chris Herczeg on February 22nd, 2016 and the idea quickly gained attention from several experts in the tech and retail industry and made the Allyos core team grow. Mr. Bitter, an entrepreneur, investor, online marketer, and early Bitcoin adopter from 2011 joined forces and hard work with Mr. Herczeg, a sales expert, to create and develop the ideal product-backed crowdfunding platform and community, which, as of that day, was called crowd shopping afterwards and put it in a mobile application form.
The idea that eventually became Allyos was born from co-founder Chris Herczeg’s frustration trying to sell his cell phone right after a manufacturer update was out and the market price dropped rapidly. Chris thought that there must be some way to leverage both interest and current supply by tokenizing or splitting the full price into smaller, equal and limited costs for the advantages of both sides. Joe shared the idea and suggested an easy to use crowdfunding based mobile application for everyone’s reach, trying to also focus on philanthropy and serving the whole society. The whole idea was intended to organize people with the exact same interest around one specific item on offer for a limited time and split the full costs equally, to exactly $1. Once the target item price is collected, one person gets the item for his/her original funds, all other participants get a discount starting from 2% and building up from there. The implementation of this concept allowed them to offer for one raffled individual the lowest possible price on any item, 1 dollar for example. The fair and philanthropy ideals were not satisfying enough for the founders, they implemented a built in 1% charity function after every sale, and a reward program between users that allows them reaching from 1% to 50% of the total sale going through Allyos.
Mr. Herczeg and Mr. Bitter had to create the “14 Constitutional Rules of Allyos” and implement it to the core codes and system, without these rules the whole platform would not be able to function. As these 14 rules are very essential and unique to the ideal working of the concept, it was copyrighted and patented.
The name Allyos is a blend of “all or everything” and “yours”, suggesting that everything can be yours.
2017 onward, partnerships
The whole new concept proved wise as since start it gained the attention of several businesses, charitable organizations, partners, advisors, investors and users, so right at the second application built tests almost 900 insider testers were involved.
At the end of 2016, the brand “Allyos”, its slogan “Anything for a dollar”, the icon of the application, the algorithms, the full concept, the overall unique app look and design were registered worldwide and now are under patent protection. After the legal team and background were mostly done, the management decided to hire a mobile development team Big Fish Internet-technology Ltd and Once Enterprises to implement and develop all the experiences and feedbacks. This new board of experts seemed to pay off as several new concepts were integrated into the Allyos app latest versions. The company started to hire professionals and started to reach out to new potential suppliers, business partners and charitable organizations. Application and the system development continued accordingly to the feedbacks received, focusing now mostly on user experience and simplicity. As a result of the efforts, a final touch on the development process and design was placed and the Version 4.0 of the application became ready to launch in 2017, the Allyos application is ready to be introduced to a larger audience on crowdfunding sites and cryptocurrency communities, as the management made a decision that feedbacks and further improvements should be as direct and personal as possible. Allyos fairly planning to grow into a household brand globally in the next couple of years and shaking up the entire current old-fashioned market on several fronts becoming a multibillion dollar business for the advantage of the whole community.
Business model – the concept
Mr. Bitter’s dedicated focus on always create something big and lasting for the world and for the next generations leaving Earth behind in better shape than we received it, the core management focused on allowing Allyos uniquely try to change the current old-fashioned sales method. Instead of packing up huge stocks of one item and try to find the one customer with the full price in hand - this method is great if speed is in focus but it requires full budget -, the concept turns it around by offering one specific item or service for a specific price for a limited time and collects buyer’s interest opting in with $1 to meet to the target price. When the price target is collected within the offered time limit, one participant receives the item and all other participants get a discount voucher for the same item, which discounts are also building up on the same item.
Balance in the concept
The founders’ focus was always on creating the most equal playing field and strives for the ideal win-win-win situation globally. First time ever, they figured they turn to time, and let it balance the concept.
Time limit plays a major role in the concept and the platform of the equality. As all people in the world have 24 hours a day, Allyos decided in its patented concept 1 hour worth $1. Therefore, users can add only $1 an hour to a certain item on offer. To complete the idea, not just users but items are also limited by time, meaning certain price ranged items are allowed being on offer for the time limit level that price target has. The exchange rate/number is 1/100, meaning an $800 priced item is on offer for 8 hours, a $16.000 priced item for 160 hours. If the item price is collected within its time offer, one user is selected and gets the item, if the total price target was not collected in this timeframe, the deal is cancelled, all participants get their money back.
Based on many tests and the target of creating a global levelled market field, speed, transparency and unity became a major issue, so the whole development team had to come to one conclusion: the Allyos concept requires a built-in wallet with its own “currency”. Indollar was born, which is a time backed patented concept and now currency in the app. Users required to buy time (Indollar) in the app to be able to participate in any deal. The exchange rate is very simply set 1 USD = 1 IND (Indollar) = 1 Hour. This buying process was established by the well known methods, application inside wallet top-up is the option, after settling with an international bank all major credit cards and debit cards are accepted, and top-up is also open for people with cryptocurrencies like Bitcoin.
Built-in 1% charity
As philanthropy and giving back to the community was always in the main focus of the founders, Allyos lends support to charities and relief efforts by donating 1% of total sales to charities of users‘ choice.
Supporting the users
One of the main focuses was also the building and supporting the user community, so a basic feature got implemented into the app, which gives another 1% of the total sales back to the users.
Several core management members coming from experienced business and sales fields, creating a new and more comfortable environment for businesses has been part of the “win-win-win” mission statement from the start of Allyos. Allyos, thanks to the unique concept and positive feedbacks so far can offer business and merchant partners value like not moving stock until the sale is completely done, get rid quickly from overstock, collect exact pre-orders for certain items for a an agreed price, reach millions of new excited potential buyers, get instant feedbacks and suggestions on product lines, get access to extra fast sales, getting rid of price concession as this concept only asks for a comfortable price, maintain brand quality and level on the market, dealing and payments are upfront in full, gives instant higher profit margins, creates an extra positive brand recognition and respect due to the 1% charity feature, the system is free to use for everyone.
Allyos core concept and mission statement was built on the idea of self-supporting and credit-less platform, meaning it is user, facts, capital and community based. The bigger the user group is, the better the financials are. More users mean higher and higher priced items in less and less time. The project has been funded mostly by the dedicated management members, early Bitcoin adopters and venture capitalists. The company and its management are open to joining offers from precious individuals who share the same or maybe better values. Allyos never planned to go public and start an IPO as regular Wall Street investors and speculators could ruin the “crowd shopping” concept, which belongs to the crowd.
Allyos is advertisement and chat free, these are building blocks of the concept, the profit of the company comes from 3 different and easy ways. As price pressure from the manufacturers is not a target of Allyos, far from it, nor the concept has to be the cheapest on the market getting rid of the market destroying situations, Allyos is simply able to offer all items on a fair average global retail price, which is about 15-20% above Amazon’s or other regular retailer price. As not one buyer pays the price but normally hundreds, this still gives access to astronomically cheap shopping prices such as $1. This 20% extra is one of the income sources. Another major income source comes from an advanced level feature in the app, which allows users after a certain level to “back-load” a raffled item, meaning they split its price by 50-50.The third income comes from a major innovation thanks to the patented concept, as Allyos users from a certain user level able to get cryptos and Bitcoin without mining simply by using the app. In these cases, users also share the proceeds with Allyos.
Until the date of the whole concept was patented, Allyos had had no competitors. Competing with the first crowd shopping concept with integrated charity would be extremely hard, as it involves several dedicated codes, rules, algorithm, integrated software and a wide range of concepts built on each other. Similarities might be found between Groupon and the Allyos Discount Voucher collection part, and looking at the appearance major crowdfunding companies like Indiegogo and Kickstarter can come to mind.
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