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Why can a scam company raise $40 Million Series C + $76 Million Series B?

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Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?

#351

Post by wpietri »

avalaunch wrote: post #69
jdh wrote: post #23

I'm the Series A investor in this company. We in fact have done plenty of due diligence, and you will be pleased to know it is not a scam company. In fact, the company has very high customer satisfaction ratings, including an NPS that is in the ballpark of Amazon, and a very high customer retention rate. More than half of the people who subscribe to the service are still subscribers after two years, which is unusuall…

The other commenters are being too nice in their replies. You're full of shit. JustFab is a shoe of the month club masquerading as a normal online shoe store. The VIP Membership Program is the essence of JustFab's business model and yet it's missing entirely from the home page of their site. It looks like any other shoe store. And yet you think it's clear that the user is being signed up for a shoe of the month membe…

And remember, my fellow entrepreneurs: if an investor is ok with cheating customers, there's no reason to think they will have a problem cheating you.

Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?

#352

Post by aestra »

logn wrote: post #254
stephengillie wrote: post #235

Earlier quoted context omitted.

Those won't matter to scam business, especially since the BBB itself is a scam, and most yelp reviews are fake.

Although I think the BBB is not a scam, there are still many other routes to take. There's always a potential for a class-action law suit. Some law firms specialize in that and work cases only taking money from any final winnings in court. And the attorneys general are usually happy to hear any complaints. While there's often not immediate results or consequences, having made an official complaint helps those who are…

The BBB sells its A ratings.

http://www.youtube.com/watch?v=Yo8kfV9kONw

Watch the video.

Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?

#353

Post by untog »

canvia wrote: post #322
rschmitty wrote: post #310

Earlier quoted context omitted.

WF is fine, its just that parent thought his WF Visa was the same thing as an actual Visa that comes with actual protection Remember, never use debit cards.

A locally based credit union will provide better and more flexible support than any big chain bank. Plus you get to use any credit union ATM anywhere (there's a CO-OP network ATM in every 7-11) for free, and most refund some amount of ATM fees every month.

But a Credit Union debit card has just the same weaknesses as a Wells Fargo one.

Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?

#354

Post by dataminded »

ghshephard wrote: post #228
abalone wrote: post #154

Every single person who has been misled into signing up for a recurring charge should do this one thing: Dispute the charge with their credit card company. You'll get your money back and it will issue a bunch of chargebacks to JustFab, which will penalize them financially. If enough people complain their penalties will escalate and their credit card processing rates will go through the roof. This is how the credit ca…

Totally not the case that you get your money back, at least with WellsFargo Visa, they will investigate to determine whether your card was used by some other party. Saying, "I didn't read the terms of the agreement" is not grounds for a chargeback. What's worse is when you've signed up for a One year recurring payment and you have to jump through hoops to cancel such as a registered letter to cancel. Wells fargo will…

I can confirm that Bank of America is great about this on the debit side (though I have started using a credit card for online purchases). BoA gave me my money back instantly, stopped charges from the vendor and went off to investigate.

Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?

#355

Post by dan_manges »

aestra wrote: post #343
ghshephard wrote: post #228

Earlier quoted context omitted.

Totally not the case that you get your money back, at least with WellsFargo Visa, they will investigate to determine whether your card was used by some other party. Saying, "I didn't read the terms of the agreement" is not grounds for a chargeback. What's worse is when you've signed up for a One year recurring payment and you have to jump through hoops to cancel such as a registered letter to cancel. Wells fargo will…

How can WellsFargo transfer a recurring charge to a new credit card? That makes no sense. How can they associate old card with new card? That means if there was fraud going on WellsFargo would have no way of stopping it ever. It also sounds like you are talking about a debit card, and not a credit card, and it sounds like you gave a scammer your bank account number, not debit card number. Those are just guesses.

There's a service available called Account Updater that provides merchants with updated credit card numbers. It's intended to be a convenience for both merchants and consumers.

http://usa.visa.com/merchants/products-services/processing-s...

Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?

#356

Post by joonix »

jdh wrote: post #23

I'm the Series A investor in this company. We in fact have done plenty of due diligence, and you will be pleased to know it is not a scam company. In fact, the company has very high customer satisfaction ratings, including an NPS that is in the ballpark of Amazon, and a very high customer retention rate. More than half of the people who subscribe to the service are still subscribers after two years, which is unusuall…

Are you kidding me? I don't even see a price for the subscription fee anywhere on that page. When you buy something, you expect to see a price when you checkout your shopping cart. Do you buy groceries and pay for things that don't show up on the register too?

People are conditioned to get enrolled in things like loyalty/rewards clubs that give points for purchases. No big deal. That's what this looks like if you happen to notice the block in the upper right corner. Most people ignore what's in that area anyways. You're full of shit.

You should lose your job for being unable to find a better investment for your clients' funds than a scam website.

Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?

#357

Post by joonix »

personalcompute wrote: post #203
capex wrote: post #87

Earlier quoted context omitted.

Came to say this. I can smell class action against JustFab.

Actually, when you agree to the terms of service, you conveniently waive the right to participate in a class-action lawsuit. Source: http://www.justfab.com/index.cfm?action=home.terms_and_condi...

Yeah, that doesn't mean a thing.

Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?

#358

Post by jtbigwoo »

nugget wrote: post #184
abalone wrote: post #154

Every single person who has been misled into signing up for a recurring charge should do this one thing: Dispute the charge with their credit card company. You'll get your money back and it will issue a bunch of chargebacks to JustFab, which will penalize them financially. If enough people complain their penalties will escalate and their credit card processing rates will go through the roof. This is how the credit ca…

You can also file an action against them in your local small claims court. Depending on where you live, it takes about 30 minutes to fill out the form and costs around $25 in filing fees. Most likely the company will not respond to your complaint, and you will receive a judgment for all of the money you paid them. Assuming they don't go bankrupt, they will eventually pay you and satisfy the judgment. I did this again…

>> Assuming they don't go bankrupt, they will eventually pay you and satisfy the judgment.

Let's be honest, though. It's 80% certain that they're going to go bankrupt. They're clearly not building a company to last. Your best hope would be to get your money back before bankrupcy proceedings start.

Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?

#359

Post by jcromartie »

cs702 wrote: post #278

JustFab is not a 'scam company' (in the sense that they may not be doing anything technically illegal), but they are using DARK DESIGN PATTERNS[1] to trick at least some people into doing things they don't want to do. The checkout page[2], in particular, seems designed specifically to trick people into signing up for recurring monthly charges. Any person who adds merchandise to the cart and then clicks the big 'Conti…

The image you posted is way more informative than this one: http://i.imgur.com/ctMDiCJ.png

Which one is most recent?

Frankly I don't see the difference between a company that tricks people into expensive recurring charges and a scam.

Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?

#360

Post by jtbigwoo »

aestra wrote: post #348
downandout wrote: post #178

Earlier quoted context omitted.

The window is usually 180 days, and some of the more lenient credit card companies will go back even further depending on the circumstances. She can easily get back 6 of the 8 monthly charges. A simple way to avoid issues like this is to always generate a virtual card for each purchase, and then turn the virtual card off the moment the transaction is completed. You can do this through Netspend prepaid cards - you jus…

Bank Of America has SafeShop for their cards. https://www.bankofamerica.com/privacy/accounts-cards/shopsaf...

Discover card has something similar also:

https://www.discover.com/credit-cards/member-benefits/securi...

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