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FAQ


Questions are asked to be answered.

The Basics

  • How does Spykio work?

    Basically we operate in a similar way to kickstarter, however we found that users should get more back from their investments than just the product. because the product creation is only possible because of you the backer. Therefore we created spykio, its comparable to stocks in a company as you will own part of the project/ company.

    Check the how does it work page for more details.

  • How do I invest?

    You can just click on any project that is not funded 100% and buy a few shares of the project. this will make you an investor and your investment will be immediately visible in your account.

  • When do I get payed?

    Payments are specified on a project by project basis. some projects may start paymouts after 1 month of release and some projects might take up to 6 months before payout starts. For more details, you can check the financials part on every project page.

  • Can I sell my shares?

    As of now this is not yet possible. however we are hard at work to make this possible in the future. (its mostly a Legal/regulatory issue)

Project creators

  • Why do people submit projects?

    People submit projects for various reasons. but the biggest reasons are:
    -They don't have time to work on the project.
    -They don't have the technical skills to work on the project
    -They don't have the money to fund the project
    -They have a lot of ideas and can't create everything at the same time.

    Keep in mind that everyone can have great ideas. but ideas only become valluable once they become tangiable and/or are growing.

  • Do project posters get ownership or equity in the projects they submit?

    Yes, All people who post projects own 20% of the project, however they can increase their ownership by investing in their own project which is ofcourse recommended if they truly believe in their project.

Backers

  • Why do people back projects?

    People back projects for various reasons but we found that the main reasons are as follows:
    -People truly believe in the project
    -The project they are investing in is a friends or family members project.
    -As an investment because it is very similar to angel investing.

  • Do backers get a fixed monthly income?

    No, investors get a share of the revenue the project generates. this means that as the project grows your monthly income grows with it.

  • Do backers get ownership/equity in the projects they back?

    Yes, backers get ownership proportional to their investments.

  • Is my investment covered?

    Your investment is covered in the sense that you own part of the project/ company. so if the project requires a new office, you are partial owner of said office.

Miscellaneous

  • What happens if a project is not 100% funded after a long time?

    If a project is not funded for a very long time. we at spykio will review said project. if we determine that the idea is a very promising project and the funding is completed by at least 80% we will fund the additional 20% ourselves. if its not a very promising project and/or the funding is below 80% we will pay back all investors.

  • How does Spykio make money?

    Spykio makes money by owning 10% of all projects and by charging a 3% commison on the funding amount. (this commission mostly pays for credit card fees and server fees)