Ownet Allows Users to Monetize Their Social Network
NEW YORK, NY / ACCESSWIRE / September 14, 2023 / A new social network is making it possible for its social media users to own and monetize their digital footprint. Ownet.com enables its users to own 80% of the value of the network, making it the first social company to be majority owned by users. Users simply need to register and set up a user profile. Users pay nothing for the shares which are to be issued by Ownet.com's parent company, Own Inc. The woman-led tech company headquartered in New York City aims to transform the social media landscape and let users benefit from the data and time they contribute to social media.
President of Ownet.com
Ownet.com believes major social networks have created an unfair business model. Ownet.com is fixing social networking by providing users their rightful share of the value they contribute. In fact, $628 billion would be held today by users of Facebook if the tech company had used Ownet.com's user-owner model and set aside 80% of its value for users. The value of Ownet.com's 80% stake is correlated with user registration and usage of Ownet.com. If millions of users signup to the Ownet.com's concept, advertisers can be expected to follow the users. The value dynamic means the more users sign up for Ownet.com, the greater the value of the user's 80% stake.
The company uses a patent-pending technology that is the basis of its user-owner model. On Ownet.com, users earn 200 shares when they sign up and register, followed by opening an account when the platform is live in 2024. Users will also have a voice in governing the network with a seat on the board of directors. Ownet.com plans to launch the social network in 2024 after a pre-registration period.
Ownet.com's parent company, OWN Inc. completed its IPO on Monday, led by Salomon Brothers Securities, with a valuation of $810 million, assuming exercise of all conversion rights of the IPO securities. OWN sold securities convertible to three shares of class A common stock each with a conversion price of $3.20 per share. The securities trade on State Stox New York (SSNY), a trading market that allows for New York residents to support New York businesses.
'Users deserve value for their data and time, and Ownet.com is a tool by which users can achieve value,' said Amanda Brilhante, Ownet's president and a co-founder. She elaborated, 'when you scroll and engage on a legacy social media platform, your information is continuously collected and sold to benefit that network. Ownet's approach has a key difference - one where users get the benefits from their usage. This is a win-win; on Ownet, if you're registered and engaged, you're already gaining.'
Today, users can pre-register and reserve their spot on Ownet.com. Users earn 200 Class C shares when they set up a profile and begin using Ownet.com's social network.
Find out more, including important notices and disclaimers, at www.Ownet.com.
Follow us @Ownet on Facebook, @Ownet_com on Instagram and Twitter, and @Ownet.com on TikTok.
Dan Vider, First Lede
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.
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SOURCE: Ownet.com Inc.
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