NEW YORK, March 31, 2022 (GLOBE NEWSWIRE) -- Ownet.com is turning the internet model upside-down. At Ownet.com, we believe users should have ownership stake in the social network they use every day. So, we have created a way to network, share, post, and profit.
“With the recent launch of Donald Trump’s self-serving and narrowly appealing network, followed by Elon Musk’s urging that a new platform is needed,” said Lisa Chau, President and Co-Founder of Ownet.com, “The world is poised for a new user-centric social network and Ownet.com is here to fill that void.”
The Problem
Remember when we were all told that Facebook was free? While you may not need to provide credit card details to use social media, you are providing a lot more. Instead of taking credit card information, social media companies take billions of users’ data, sell that to advertisers, and profit immensely. The more users and the more data, the more companies can charge advertisers. This model directs all the economic value to the few in charge at the likes of Meta.
It’s what has allowed such monumental wealth accumulation amongst Big Tech. But what if the economic value of a social network went back into its users' pockets, rather than into Mark Zuckerberg’s? Ownet.com seeks to right this wrong.
The Vision
“Ownet.com is on a mission to fix the economic injustice of social networks,” Lisa Chau said. “For far too long we have passively accepted that we are the product, that our personal data is unprotected and sold, and that there’s no other way for us to engage online. We’re calling on the users of the world to claim a new network, owned by you.”
Ownet.com believes people are empowered when they gain ownership stake. The value of any social network is directly linked to its user base. So, if all of Facebook’s users shift to Ownet.com, then all of Facebook’s monumental value would, in theory, transfer to Ownet.com. This transfer of wealth would then be directed into user-owners’ wallets, and we invite you to claim your stake.
Lisa Chau alongside Brian Hyde, Chief Financial Officer, and Phillip Nguyen, Chief Technology Officer, have been working on building the now functional Ownet.com for the past year. The company is licensing a patent for this technology and approach to user-centric social networking. They are currently raising funds in an investment round arranged by Salomon Brothers Securities, an affiliate of Salomon Encore.
The Action
Request an invitation to join the new social network at signup.ownet.com. Ownet.com will issue 100 shares to every user-owner registered prior to the official launch on July 4, 2022. Additionally, Ownet.com is leveraging influencers, who will be rewarded in shares, to enlist their friends and followers to sign up. Those who sign up using an influencer’s code will receive a bonus of 50 shares.
About Ownet.com
Ownet.com is the first social network owned by its users. The minority-led company, headquartered in New York City, seeks to fix the economic injustice of social networks. The disruptive, user-centric model makes profit sharing possible by offering stock to all registered user-owners to benefit from their social media activity. The management team led by Lisa Chau represents over 80 years of experience on Wall Street, business, academia, social media, strategy, and technology. Leading a mass exodus from current social networks, like Facebook, can transfer the value of those networks to the users. If we all move to Ownet it could mean a historic transfer of wealth! Find out more, including important notices and disclaimers, at www.ownet.com.
Follow us @Ownet on Facebook, Instagram and YouTube, @Ownet_com on Twitter, and @Ownetsocial on TikTok.
Disclaimer
We (the “Issuer”) are considering an offering of securities exempt from registration under the Securities Act of 1933, as amended but have not determined a specific exemption from registration the Issuer intends to rely on for the subsequent offer and sale of the securities. No money or other consideration is being solicited; and if sent in response, it will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until the Issuer determines the exemption under which the offering is intended to be conducted and, where applicable, the filing, disclosure, or qualification requirements of such exemption are met. A person's indication of interest involves no obligation or commitment of any kind.
Forward-Looking Statements
This Press Release contains "forward-looking" statements or statements which arguably imply or suggest certain things about our future. Statements which express that we “seek,” “aim,” “intend,” "believe," "anticipate," "expect," or "plan to," and any other similar statements which are not historical fact, are forward-looking statements. Similarly, any statements made in this press release about an action, event or development, are forward-looking statements. These statements are based on assumptions, that we believe are reasonable, but there are a number of factors and risks, many of which may be beyond our control, that could cause our actual results to differ materially from those expressed or implied by these statements. You are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements speak as of the date hereof, and we do not undertake any obligation to update or revise any forward-looking statements, except as expressly required by law.
