TLDR:
The CEO has a very inconsistent work experience stating to be the CEO of a company called Wowpaymobi, which is supposed to be highly successful, but The Internet has no record of ever existing. He has no significant work experience related to tech and blockchain and has recently decided to change his name, shortly before the start of Babb - 11.05.2017 to be exact.
Why am I writing this
So, I have been looking for a few nice ICOs to invest and I found this one:
https://getbabb.com
Obviously, I am a well-informed investor and I am not interested in spending my hard-earned money on the next scam, so I started doing some digging.
The CEO - Red Flag Number One
Ok, let's start with the profile of this guy who poses as a CEO:
Wow, that is a great and lovely picture. Let's check the linkedin profile of Rushd Averroes:
No red flags yet - he has about 500 + connection, a little bit of relevant work experience which does not really seem consistent (I mean the guy was a broker and then became a CEO of a company during the time that he was broker):
Wait! I think I got it. He was trading FX on these platforms, he was not actually working there, which would have been great, as it is somehow related work experience:
Hm, ok, this is kind of weird. Let's look at that website again and see what exactly Rushd is supposedly been doing at Wowpaymobi:
Wow! He managed an API! Aside from the fun I had with this, it does not mean anything yet. Let's go ahead and look at the website of the Wowpaymobi....
...except that there is no website:
There is a twitter account however! Let's head over there and have a look at the twitter account and read these amazing tweets:
... oh wait...there are none of them.
Anyway, just to make sure, I will head over to the homepage of Wowpay and just make sure that we are not making a mistake:
and let's quickly compare the address to the one of Babb:
Nope, no match here. So I guess Wowpaymobi probably did not exist.
**Red Flag Number 1. **
Red Flag Number Two - Company History
Oh man I am good at using google. Do you know what I found using our good old google friend? I found the company history of BABB APP LTD:
https://beta.companieshouse.gov.uk/company/07391093
I have especially highlighted the address of the company so that we are sure that we are talking about the same company, registered at Level 39 One Canada Square in London (as you can see from my highlighting, which is pretty good).
As you probably see from my second highlight, Babb used to be called Wowpaymobi LTD. AHA, found you, so you do exist! At the same time, the company used to be called "Al Kebsi Limited", which sounds a little bit like a kebab place. Hm...
I am really mesmerized by the name Al Kebsi Limited, so I am going to Google it and try to find out what does this guy have to do with keBabb...no sorry, Babb, hehe.
https://www.quora.com/profile/Khaled-Al-Kebsi
Hei wait, I know this guy!
Are you fucking kidding me? This is the CEO of Babb and my AI confirms a 100% match!
Well, good luck investing in that.
Red Flag Number 3 - CEO Changed names
Ok, I get it. You don't trust me. You want to make 100x. This is a great project. So you are telling yourself the following:
- Well sure, the CEO has some weird work experience
- His most recent experience is being the CEO of a company that does not exist in the world of internet
- The company used for Babb is 7 years old and has only 1000 GBP capital? Oh shit, I did not mention that. Allow me:
Have a look for yourself: https://beta.companieshouse.gov.uk/company/07391093/filing-history/MzE3OTQ0ODcwM2FkaXF6a2N4/document?format=pdf&download=0
Ok, for my final bag of tricks I will pull of one of these cool company records (damn, the UK government really has to put them on the blockchain, for sure) and show you a fun fact, which you probably are already aware of, but just in case - Mr Rushd Averroes, CEO of Babb is indeed...Rushd Yas Khaled Al Kebsi, the fun guy from Quora.
Now, the question you should be asking yourself is, do you want to invest in a company that is:
a) lead by a CEO without any real work experience related to finance or blockchain;
b) has 1000 GBP in Assets looking to raise millions;
c) is lead by a CEO that CHANGED HIS NAME and forgot to mention it?
Your call.
P.S. This is a personal opinion based on internet researched open facts that everyone has access to. It should not be treated as a financial advice or any opinion about the reputation of the above discussed CEO.