One cannot say things until they are proved. Although it looks like Speak Asia is a fraud, I, or this website cannot claim on it for sure. But there are a lot of points which I personally find can be quite interesting to raise and ask. These are some disturbing facts about Speak Asia.
You cannot register online! Don't scream out a loud "FRRAAAUUUDDD" yet. There is more. You get to pay your "Rs. 11,000" (That is about $250) registration charge to a person who is the 'referrer'. You must do it in cash and hand the money to him. You can then use his 'sponsor ID' to register. This is very very awkward to listen, more so to be in practice. But then, probably you, the reader already know about e-commerce and have been doing some. For those, who are new to internet (and there are millions in India as such) will find it intuitive, interesting and easy and will get into the trap.
My friend tells me that according to the officials, they have invested something close to Rs. 60 Crores (Rs. 600 Million, or approximately $13 million) to get the website done. Now, there are quite some points to note about this website:
They claim that they are going to use the investors' money to place orders and get them the products at a lot lower rates than the average market price. If you look carefully (well, even not so carefully) at the website, you will find only one brand named "YuG". However, in the surveys they use the biggies' names like Onida, Videocon, Samsung, LG, Sony. Where are they. And hey? Where is the 'android' phone?
Now, what are the chances that a company which makes Microwaves, Refrigerators, Television Sets, Blender, Toaster, Air Conditioner, Washing Machines, DVD players, Vacumm cleaner and so on (or almost any home appliance you can think of) is not known by majority of Indians? Search google for the term "YuG Refrigerators" or "YuG TV" and things come up, all except anything related to a company which does produce anything.
The population of India is 1.2 billion. Number of internet users here is quite a lot as well. Counting at 5.3%, it is at about 62 million. Out of these, at least 10 percent users should be able to pay for the money making scheme (I am not sure about the numbers 10% and it is my personal guess from what I see around myself).
So if you calculate the amount needed to fill about 10 survey forms for all of those who would register, the amount comes to Rs. 5000 (for 10 survey forms) X 62 million = Rs. 310 Billion. Basic math, huh? Tell us, where will all that money come from? Which all companies (read clients) were (not) vigilant enough to waste money at that scale?
You go to the website and click on the registration page and the only country you can see is available as an option is India. Oh, and I am pretty sure that it is not because the computer requesting the page is found to be in India. Open it using a proxy which is located in Russia and it shows the same!
Secondly, if you go to the contact us page of the website. You will find the numbers of their Singapore office but the timings which are mentioned are in IST (Indian Standard Time). Also, phone numbers for Indian branches are available. But hey! There is no OFFICE!!
Great isn't it? Can some one tell me a single reason about why any company would be started in Singapore but the only place it is going to do business is India? And without an OFFICE? They don't seem to be present anywhere else at all. May be it is because the mentality of Indians is that anything which originates from a foreign country is good!
Proud to be an Indian? Just think - someone is treating us as if we are the biggest fools on this planet although we supply largest number of engineers to the world! Internet is not reality and this should be taught to the new internet users here in India somehow, anyhow.
Any company's founder would feel proud to present himself or herself as the founder of it, specially when his company is getting so much of attention in such a short time. The Alexa rank jumps from nowehere to 910 worldwide and 6 for India in just 6 months of its launch? Mr / Ms Haren Kaur (or Harindar Kaur) who is said to be the boss, the founder of the company, never appeared! Although what we say is not so polite, but it is surely going to bring you the word 'WTF' from inside many people.
Permanent Office, or an office address is a bare necessary thing which any company would want when expanding. Speak Asia organizes seminars in Five star hotels and they do not have a single office? Well, that is a WTF again! Moreover how and why does one dare to take in Indian citizen's money without having the legal establishments being approved by the Government? A normal company would never. There is a legal procedure which anyone would like to follow and does follow.
This one is a BIG question. The money flows upwards in the network via the rather 'social' chain. But then, where is it getting stored when the company does not have a single office in India and no Bank account?
NOW, Please do not ask me to conclude whether Speak Asia is a genuine company or a Mega Fraud. We have given you some questions and answers to a few as well. We would suggest you form an opinion for yourself and tell us.