InvestorPlace – Stock Market News, Inventory and Trading
Beanstox is a mobile application that allows you to create your assets through savings and investments. The company also increases the budget through a crowdfunding crusade at StartEngine. The minimum to invest in Beanstox is only $150.
The company’s president and co-founder is Kevin O’Leary. Yes, he is well known in the world of startups and investors. He is a regular character on the popular television screen Shark Tank and has written high-selling books such as Cold Hard Truth: On Business, Money and Life and The Cold Hard Truth on Men, Women, and Money: 50 Common Money Mistakes and How to Fixes.
The other co-founder of Beanstox is Connor O’Brien, who holds the position of CEO. He has more than 3 decades of experience in the monetary industry, having worked for several Wall Street companies. O’Brien also helped create the O’Shares ETF, which also includes a partnership with O’Leary.
In Steve Harvey’s program, O’Leary said: “We teach young people around: geography, math, sex education… but we don’t teach them how to invest.”
That’s true, unfortunately. But with Beanstox, you need to replace that. The app is a robot advisor available on Apple’s iOS (NASDAQ: AAPL) and Alphabet’s Android Play (NASDAQ: GOOG, NASDAQ: GOOG).
It is based on other types of monetary objectives. For example, energy savings are for short-term desires and the annual interest rate can reach up to 2.1%. Then, for medium-term goals, there’s Project Builder. This saves, for example, the down payment for a space or condominium. Then there’s Wealth Builder, which aims at long-term goals, such as making a wealth investment for retirement.
For all this, Beanstox charges a monthly subscription of $5 (the balance point is 30,000 users). However, the company has the right to qualify up to 0.25% on visitors’ assets in more than $25,000.
In terms of market opportunity, which is actually essential to invest in Beanstox, it is huge. According to an examination of the company’s investor profile, the category is expected to succeed at $16 trillion in assets under control through 2025. Beanstox also estimates that 30 to 40 million more people will open robo-counsel accounts this period.
To date, the company has raised more than $520,000 in its crowdfunding round. Valuation is set at $15 million.
But, of course, even if O’Leary has a fair record, Beanstox is not a matte. The market for automatic counselling facilities is incredibly competitive. Some of the major players, such as Betterment, Acorns and Wealthfront, have strong brands, giant user bases, and a host of sensible venture capitalists.
In addition, Beanstox still wants to be refined. For the iOS app, the score is 3.6.
So, as with any initial investment, it is vital to perceive the dangers and make your own analysis.
Tom Taulli (@ttaulli) is a consultant/board member for new companies and online writer on technology, adding Artificial Intelligence Basics, the Robotic Process Automation Manual and Learn Python Super Fast. He is also the founder of WebIPO, which was one of the first public delivery platforms in the 1990s. At the time of writing, it did not occupy a position in any of the above values.
1) Increased failures 2) Risk of fraudulent activity 3) Lack of liquidity 4) Economic slowdown 5) Lack of education for investors
Read more: Risks of private investment
The Investing in Beanstox message for Kevin O’Leary’s Robo-Advisor application made the first impression on InvestorPlace.