Funny thing... this post just disappeared from the home page.
Why can a scam company raise $40 Million Series C + $76 Million Series B?
431–440 of 480 posts
Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?
#432Nobody seems to have mentioned the fact that a well known celebrity, Kimora Lee Simmons, is the president and creative director of this company, no doubt a huge factor in attracting VC attention.
Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?
#433What worries me is that the what is probably one of the major credit check agencies in the UK and some other countries is also running business the same way. Experian offers a service where you can check your own credit score online for around £6, but actually also signs you up for a £13/month service after that which is also easy to miss in the small print. You also can't cancel this online, you have to phone them.…
This is why Federal law in the United States says consumers are eligible for a completely free credit reports from each of the 3 credit reporting companies. (http://en.wikipedia.org/wiki/Fair_and_Accurate_Credit_Transa...)
This report can be accessed though https://www.annualcreditreport.com which is jointly operated by the big 3.
This is the only site for a free credit report. Everything else is a scam.
EDIT: I see you actually meant credit score, that's a bit different.
Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?
#434I don't see this different from what MS used to do with Xbox Live subscriptions in summer... at first the charged $1 for one month, but you have to cancel the subscription before the month ends in order to not being charged again.
Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?
#435It is because of websites like these, I love my credit card's Virtual Account Number generator. It gives me a new CC number every time, with 'Dollar amount' and 'Valid until' limits. I always use a new number to sign up for all sorts of 'trials' etc. Never ran into problems with zombie billing. That said, scammy company is very scammy!
Which credit card company is that, in which country?
There was a discussion earlier in this thread about virtual card numbers.
Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?
#436I'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…
On your example, the most obvious buttons are bright pink saying 'Continue Checkout' with the VIP Membership program in a separate set of boxes on the side. They are definitely not presented as part of the workflow of the checkout process for a consumer.
'With this purchase you are activating your VIP membership' is smaller and in black. Incredibly easily overlooked.
It is possible that the JustFab UI designers aren't very good and have made a terrible mistake but the overall look and feel of the rest of the site would suggest that they have put a LOT of thought into steering their prospective customers down a very clear route to purchase and know EXACTLY what they are trying to do here.
Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?
#437Their "how it works" page explains this, with far fewer than "2500 words", though it could be clearer. http://www.justfab.com/how-justfab-works.htm They have 2 million likes on Facebook. Were all these users scammed? The "monthly subscription" has recently been a hot e-commerce category. Other sites with a similar model are shoedazzle.com, fabkids.com, musthave.popsugar.com and so on. See: http://www.quora.com/E-Comm…
Are you kidding me?
When I sign up for TV service, Cable service, or Internet service I'm aware I'm signing up for a service. I wasn't made to believe that I was making a one time purchase, and being sucked into a service I didn't want or was aware I was signing up for. I presumably am aware I have cable and internet.
Nobody is criticizing them for not asking every month if they want to continue. They are criticizing them for tricking users into signing up for something they didn't want and didn't know they were signing up for!
This is an analogous situation. I walk into H&M and see some boots for a good price, and they have said they now only take credit card. Ok, no prob. I sign the credit card receipt and walk out the door. A few months later I notice H&M has been charging me $40 a month every month. I go back there and ask what's up with that? They say, well when you bought those boots, you signed up for our store club, you signed the credit card receipt saying you were signing up! You should have known, it was printed on the receipt! Signing a credit card receipt is part of a normal checkout worflow, and 90% of customers aren't going to notice if there is a subscription printed on there as well.
The point is, the store is set up to be a normal online store, and seems to go out of the way to hide that it is a subscription service.
Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?
#438It is because of websites like these, I love my credit card's Virtual Account Number generator. It gives me a new CC number every time, with 'Dollar amount' and 'Valid until' limits. I always use a new number to sign up for all sorts of 'trials' etc. Never ran into problems with zombie billing. That said, scammy company is very scammy!
Which credit card company is that, in which country?
India's HDFC bank has this facility. And you can even create instant virtual credit cards out of your bank account with a custom limit and expiry dates.
Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?
#439This thread and it's companion thread about the class action suit against justfab have just been pushed right off the homepage. Too bad, it seems like it is a thing that can't be spread far and wide enough.
Re: Why can a scam company raise $40 Million Series C + $76 Million Series B?
#440Earlier quoted context omitted.
If you look at their profile on consumeraffairs.com [1], you'll find a ton of complaints about this VIP program on the first page alone. In fact, the company replies repeatedly with a canned response. They are well, well aware of what they are doing. If they do change anything, it will not be because they have been suddenly educated or even found morality. It will be because the sunlight is so bright that they fear f…
Here's a question: Upon learning that many of your customers are unhappy and believe themselves to have been tricked into subscribing, do you: a) change the process, or b) defend the process?
Exactly. The fact that they have devised what appears to be a canned response for the issue is telling.