PinkDate Failure?

A few days ago a message was posted to Reddit that announcing that PinkDate was suspending all operations and would not be launching their app as scheduled. Their primary stated reason for this stoppage is a financial shortfall.

I reviewed PinkDate recently—or more accurately, I reviewed what was known about PinkDate ( Review: PinkDate ). At the time I had to give it a low grading. I was uncomfortable with the overall concept of the proposed app. I felt it put far too much control in the hands of a company instead of the Sex Workers. I also felt that it was possibly exploitive financially. I, along with other writers, were worried about a number of issues.

The reliance on cryptocurrencies was one of those worries. And, if the announcement is truthful, that worry has already come to life. Since all of the investments in PinkDate were made in cryptocurrency, and since PinkDate has apparently never converted those funds to (what I would call) real money, the project has suffered a serious—possibly fatal—financial set-back.

This app was apparently a very ambitious project. One requiring substantial monetary resources. But they failed to raise or maintain the needed funding. So now it is quite possible that PinkDate is a complete failure.

The announcement states that they are looking for ways to move forward, and are only suspending their current work. It also mentions refunds for those who recently took part in their “Block Friday” financing event

There is some serious concern as to the truth in all of these matters. There are some who speculate that the operators of this organization may not be telling the whole truth. No one is sure if they will get any of their investment back. Considering that the announcement repeatedly mentions the high costs of doing business, it creates a question as to what current funding looks like. Chances are that many people who have bought into PinkDate will not see any return on their investment.

I do hope that the operators of PinkDate are being honest in their public statement.  I hope that no one within the organization is taking advantage of this situation to pocket the money that people have invested.  Since the owners and operators are anonymous and the company has no actual legal entity, there is no legal recourse for anyone who is losing money in this situation.  At this time, it appears that investing in PinkDate was not a sound idea.

Whether or not you liked the overall concept of Pink Date’s services, I think we can all agree that we need to be careful where and how we invest our money in these times. The latest, newest site or app may not be the best investment. Use you resources wisely. Know before you buy into anything. And if you can, trust the advice of others.

As for me, I think I will invest in an actual Little Black Book. It might be time to write down the contact info of all my favorite people.

 

Link to the PinkDate Announcement on Reddit: https://www.reddit.com/r/pinkdate/comments/a3rvfr/all_operations_paused/

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