Quote from: Yuuto on April 14, 2018, 10:31:05 PM

Quote from: khanof89 on April 14, 2018, 09:10:32 PM

Hello every one, I am from India and I have a food delivery app up and running which covers 3 cities in National Capital Region(NCR) I have ~8000 installs already and served many customers already. I don't have a kitchen setup but have tie up with restaurants, I want to expand this business and looking forward to raise some money to spend on advertisements and perks to customers. Can I launch an ICO for this ?

The Website address is: http://acchakhana.com
and the app can be found on: https://play.google.com/store/apps/details?id=com.accha.kkhana

Any inputs/guidance would be really appreciated

India has some pretty hostile crypto regulations. I really think that you should consult some lawyer before you actually launch an ICO as it could potentially qualify as unregulated/unregistered securities of a company.

Plus, what is the ICO going to be for? What are the tokens going to do? Is it going to be shares in your company or tokens that you can buy food to be delivered to your door?

To be honest, I don't think you'll see much success. 8k customers is good but not that much in the greater scheme of things. I really doubt you'll generate much interest in such a localized service. Usually, successful ICOs have products that are ready to be used worldwide, and obviously deliver apps like yours are restricted by geographical regions. So I would advise against it.

The ICO will be used to raise funds and it will be a crwodfunding ICO I wil repay dividend to investors. I agree 8k customers are not that much but I have a working product which is better than ICOs raising funds on an idea only. My product is not limited to Indian demographics only because I am not cooking the food but arranging it from nearby restaurants.

khanof89

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