ICANetwork Review – Legit Business or Big Scam? Find Out Here…
Welcome to my, The ICANetwork Review!
So, just recently I was approached by someone I know and they asked me about this company, so many questions in fact, I just decided to write a review.
Also with all the questions I was getting, I knew I had to investigate!
When lesser-known companies are involved it’s important to answer any questions that might come up, some like these…
- Can you make some real money?
- Is this a legit company?
- If you invest now, will it be around long enough to turn a profit?
In my review, I am going to answer all of those questions by taking you through the company’s history, the products and the compensation plan, so that you can make the best decision that’s right for your investing!!
Let’s get started!!
The ICANetwork Review – The Company
The founder and current CEO of the company is identified as Michael Glaspie.
Although the details are not directly sourced from the written words there, I was able to put it together from multiple testimonials and advertising materials found online.
Glaspie first appeared on the MLM scene last year as the founder and CEO of Icanget2.
Not a total newcomer, Glaspie has been promoting different opportunities on the internet for some years now.
A lot of advertising material found online (most likely self published) makes claims that Glaspie’s online marketing career goes back to 1998…which is almost 20 years ago, believe it or not.
With Team Vinh, Glaspie was doing things like “helping others figure it out” before his days with Icanget2.
The Team Vinh newsletter revealed that Glaspie was on their Board of Directors, as their head of “marketing consortium”.
However, in 2015 it was revealed that the SEC shut down Team Vinh.
Online traffic estimates that traffic to the Icanget2 website dropped suddenly through 2017.
The start-up date for Team Vinh seems to be in the same time frame as when Glaspie started up Icanget2.
Glaspie started another company called InvitationToJoin earlier this year in 2017, which is a matrix-based sponsorship business opportunity.
He was creating a “new The ICANetwork”, through the merger of these two companies: InvitationToJoin and ICAN, well at least that’s what Glaspie is saying.
The ICANetwork Reviews – The Products
The ICANetwork has no services or products for affiliates to purchase or sell.
However, if affiliates wish to sign up with ICANetwork they can market the company affiliate membership.
The company affiliate membership offers members access to a creator for smart phone apps, services for SEO, software for converting websites into mobile friendly sites, business loans up to $150, 000, and the management and finance opportunity for a Facebook fan page.
This offer for a potentially huge loan piqued my interest (because this is NOT your usual offer found in the MLM world), so I decided to check out the “more information” section to find out if this offer is given by a third-party bank.
Upon submitting your FREE application, a bank official will contact you for the pertinent data they require.
Anyone can apply for any purpose at a $25,000 minimum up to $150,000 maximum.’
These unsecured loans are available to individuals for any legal purpose in U.S.A. and Canada. (With the U.K. coming next and soon!)
Any amount that you borrow can be paid back the first year with no interest whatsoever.
After that, it is as low as 6% to 9% dependent upon the applicant’s credit worthiness.
Looks like any normal loan you can get at a bank, so what’s the incentive?
The ICANetwork Compensation Plan
Affiliates who want to participate in the company compensation plan can sign up and become a member for free or join with a monthly membership fee.
When the affiliates sell their upsell services to newer affiliates, they are paid by the company.
The website for the company does NOT disclose the exact costs for these services.
The company pays out commissions to affiliates as a percentage of their fees paid for services, down to the 3rd level of sponsorship (unilevel):
- Free affiliates earn 10% on level 1 (personally sponsored affiliates)
- SIR affiliates earn 30% on level 1 , 5% on level 2 and 3% on level 3
- Founder affiliates earn 40% on level 1, 10% on level 2 and 5% on level 3
- Director affiliates earn 50% on level 1, 15% on level 2 and 10% on level 3
Also, sweetening the deal of the service fee commissions listed above, affiliates also earn income to directly sponsor new affiliates into the business.
Affiliates ranking at SIR or higher in the company pay a fee month-to-month, which is then handed down to pay the sponsorship commissions to other affiliates paying fees.
- SIR affiliates earn a 30% monthly sponsorship commission
- Founder affiliates earn a 40% monthly sponsorship commission
- Director affiliates earn a 50% monthly sponsorship commission
Cost To Join The ICANetwork
The cost to join ICANetowrk as an affiliate will come with a membership cost, anywhere from very affordable at zero dollars because its free, to $39.95 once a month.
Here’s a breakdown of the affiliate membership costs:
- Free Distributor – no charge
- SIR – $19.95
- Founder – $29.95
- Director – $39.95
However, if you opt for the free company affiliate membership you CANNOT earn the MLM commissions offered by the company.
Verdict on ICANetwork
ICANetwork is borderline for me…
They don’t have any retail products or services, but they bundle a mobile app with the affiliate membership…
To stay some what compliant, ICANetwork stats the the following:
As you build your team, you are not being paid for the mere act of sponsoring or recruiting.
You are being compensated because each paid position receives a mobile app!
Therefore in every respect, you are being compensated for the act of selling a product.
Now there are some very negative ICANetwork reviews out there calling this a straight up pyramid scheme…
I personally don’t like calling something a scam unless I know for sure…
What really concerns me is the past attempts of launching companies that were full out scams…
Usually history does repeat itself, so because of that I personally won’t be joining…
However, you can make your own decision 🙂
I hope you enjoyed my ICANetwork review and if you have any questions please leave them in the comments below…
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