Step Inside The Social Network That's Worth Over $5 Billion But Has No Revenues, Assets, Or Full-Time Employees

Business Insider

Yesterday we wrote about the strange case of CYNK Technology.

The company's stock gained nearly 25,000% in 16 trading days, giving it a market cap of over $5 billion. But, as we noted, it's not clear if the company really exists, as financial statements indicate that it has no revenue, assets, or full-time employees.

But there is a website, IntroBiz.com, that the company operates, not that this makes the picture much clearer.

CYNK Technology appears to operate the website IntroBiz.com, a social network (the site calls it a "social marketplace"), where users pay to be introduced to business professionals or celebrities. Or at least, this is what it seems like the site does.

Here's the homepage.

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introbiz.com homepage

introbiz.com

Here's what you find under the "entertainment" tab on IntroBiz.

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Entertainment Site CYNK 1

IntroBiz.com

Chances seem low that you'd be able to get connected with Emma Watson, or Charlize Theron, or Leonardo DiCaprio for $50, via IntroBiz or otherwise.

The ability to connect with these celebrities is marketed by artistblackbook, one of two "top socialites" on IntroBiz.com.

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Top_Socialites

IntroBiz.com

artistblackbook and worldtalent appear to be the only two "socialites" on IntroBiz. But the numbers don't make a ton of sense.

We're not exactly sure what the difference between an "introduction" and a "sale" is, but since the company hasn't reported any revenue  apparently neither makes the company any money .

But neither artistblackbook nor worldtalent has any followers.

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IntroBiz.com

Under the "business professionals" tab, you can buy connections to professionals in different areas, like consulting, motivational speaking, and fitness.

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IntroBiz.com

And the individual pages for some of these people are quite interesting.

"Harvey Bird: The Fitness Guru," for example, says to prospective customers: "I am experienced in sculpting the body."

Harvey Bird's offer, which seems basically like some health and fitness consulting (though only a diet plan, not a fitness one, is marketed) also has a great deal for members who pay from their IntroBiz account: $5 off a $1,500 offer.

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Harvey_Bird__The_Fitness_Guru

IntroBiz.com

The most expensive service on the site appears to be storytelling.

For $5000, John Sterd offers to help clients tell their "story" (quotes his) and "engage people."

This package has apparently been purchase 23 times, and after 11 votes has a five-star rating. It is also a worldtalent product.

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IntroBiz.com

As of 10:30 a.m. ET, shares of CYNK Technology were trading at nearly $16, up nearly 8% from yesterday.

It remains to be seen how the stock story — which at this point is certainly divorced from any business plans the company has — plays out.

IntroBiz indicates that there has some buying and selling going on, but it appears this hasn't resulted in any revenues for CYNK Technology.

Eventually, something's got to give.


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