Nowadays, the eCommerce world offers numerous opportunities for both experienced as well as inexperienced users. Some of the eCommerce companies, of course, provide better things. Moreover, they tend to promise higher returns on the initial investment too.
However, these opportunities are much riskier, especially when compared to safer investment options. Further, in some cases, multi-level marketing companies have revolutionary ideas as with iPro Network.
Indeed, the idea behind this company was excellent. Unfortunately, iPro Network ended up being one of the biggest scams of 2019.
Furthermore, the company was focused on business automation and bringing small stores and businesses closer to potential clients. With iPro Network, eCommerce professionals were able to automate much of the hassle associated with running an online store.
Not only this, but this multi-level marketing company was trying to make advanced business strategies such as social, tracking, promotion, and branding accessible to small businesses.
Let’s begin with a quote from the official website of iPro Network.
“Pro Network is passionate about empowering entrepreneurs to discover how to profit from simple eLearning courses. These courses teach you how to make money by leveraging E-Commerce, which is where retail has been going on for quite some time. Brick and Mortar stores are going to online Click and Order. E-Commerce and Online shopping is much more than a trend, it’s becoming a way of life.” – iPro Network Official Website.
Indeed the company aims to help small stores and businesses by introducing them to a new business automation model. However, the company has no retailable products or services of its own.
In fact, the only things the company offers are the iPro Network affiliate memberships and the different iPro Network packages.
Furthermore, the company even has its own cryptocurrency coin called Pro Coin, which affiliates receive after they have paid for one of the five memberships.
Moreover, as of 2017, the currency is renamed to Pro Currency and is publicly tradeable. Currently, Pro Currency PROC is trading at $0.000047.
Unfortunately, the website of this multi-level marketing company provides little to no information when it comes to where the company is based or who runs it. According to trusted sources, the man behind iPro Network is Armando Contreras – the iPro Network’s CEO.
Further, this person is believed to have “over 15 years experience in the direct sales industry” and to have owned “multinational businesses in various industries.”
However, despite this information, we were unable to find more about Armando Contreras. Of course, the lack of valid proof is suspicious.
Becoming an affiliate in this company is not difficult. First, users have to pay the sign-up fee, which is $50. Once you have paid the fee, you will have to choose one of a total of five iPro Network packages. Of course, each package comes with its advantages.
Further, another difference between these investment packages is the income potential via the iPro Network compensation plan. For now, let’s take a glance at the iPro Network Packages.
In short, the basic package costs $100. According to iPro Network, it provides the foundation for a reliable eCommerce store.
Further, this package allows members to automate their business. Moreover, the iPro Network Basic package contains the following:
In brief, the second option affiliates have is the iPro Network Intermediate package, which costs $500. If you already have a strong eCommerce foundation, then this package is for you.
Furthermore, the Intermediate package brings insight. Also, it provides the following:
The iPro Network Accelerated package comes next. This package will cost you $1,500, which might be challenging for small businesses. However, the package focuses on the setup and operation of a Shopify storefront.
Currently, Shopify is one of the top-rated, high-converting eCommerce platforms. Moreover, Shopify is reasonably priced in comparison to other platforms. And the iPro Network Accelerated package provides the following:
If you want to learn more promotional strategies as well as dropshipping techniques, then the next iPro Network might be what you are looking for. The Advanced package costs $2,500.
Despite the high amount, this package brings an insight into different strategies such as social, tracking, promotion, as well as branding. In other words, the Advanced package brings members closer to business automation.
In short, eCommerce business owners who want to have access to everything, including highly detailed training on Amazon store management, should consider the iPro Network Professional Package.
In particular, this package brings the full power of eCommerce to your hands.
Typically for multi-level marketing companies, iPro Network stimulates current members to recruit other people. The more people you recruit, the higher the iPro Network commissions.
Further, with iPro Network, 30% of the commissions all affiliates earn are paid in Pro Coin. Of course, the remaining 70% is paid in cash.
With iPro Network, each affiliate earns a 10% recruitment commission when they have successfully recruited a new member who invests in Pro Currency (formerly Pro Coin).
Furthermore, the company pays residual commissions, matching bonuses, as well as leadership rank bonuses.
Do you want to learn what the iPro Network’s revenue for the past couple of years is? Well, the company’s revenue equaled $20 million for 2015, 2016, and 2017. In 2018, the revenue dropped by $5 million. In other words, iPro Network’s revenue was $15 million back in 2018.
Furthermore, the company even had plans to launch a “Retail Discount Platform.” The iPro Network team wanted to give affiliates the chance to purchase products and services from third-party retailers. Unfortunately, despite this being a good idea, the company failed to turn it into reality.
Moreover, as we mentioned previously, Armando Contreras is the CEO of iPro Network. On the other hand, Carlos Contreras is the project founder of Pro Commerce, which seems to be the company responsible for the development of Pro Coin (later Pro Currency PROC).
Furthermore, Pro Commerce is associated with another eCommerce platform called Pro Rewards. So, are Carlos and Armando Contreras related, or is this a coincidence?
The US Securities and Exchange Commission (SEC) holds primary responsibility for enforcing the federal securities laws, proposing securities rules, and regulating the securities industry.
As such, the SEC charged Daniel Pacheco, who is the operator of the iPro Network website. Moreover, the US Securities and Exchange Commission alleged all founders of the iPro Network company.
According to evidence and data the SEC has, they have lured investors with false promises. The iPro Network team offers innovative financial products by attracting investors to buy instructional packages that provide lessons on eCommerce.
Currently, iPro Network is not the only company the SEC takes enforcement actions against. In fact, there are a dozen companies. Also, the SEC has frozen the assets of some of these companies.
Further, the case against iPro Network and the other companies is another part of a more significant regulatory crackdown aimed at outright fraud in the growing cryptocurrency industry.
To avoid falling into the trap of MLM companies, we advise our readers to do their homework first. The more you know about a company, the better chances you have of making the right investment.
Above all, remember that if something sounds too good to be true, then it probably is a scam or a Pyramid scheme.
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