We at Populous World are captivated by innovation, global investment opportunities and start-up growth. We support and encourage collaborations with businesses of genuine scale that are at the forefront of innovation and seek to help develop cutting edge technologies and aspire to develop a working product into profitable fruition.
Populous World identifies partnerships as a great way for companies to share equal strengths, to learn from each other, build even stronger links and provide mutual benefits. Sharing ideas on how to scale both businesses has always been the prime focus for Populous World when taking on a new partnership.
Previously, we have made strategic decisions to embark on partnerships and opportunities that we at the time felt was vital to work together to encourage the flow of business, talent and investment between our two regions.
With that being said, much like relationships, our partnerships have not evolved as initially planned, and we thought it was fitting to explain why, to clear any ambiguity and speculation.
Although the below partnerships came to an end, we continue to wish the talented companies that we parted with tremendous success.
A partnership was first agreed with Luxure Global Citizen’s (LGC) founder Luke Wilson with a signed contract. In a meeting with the presence of a credible witness, it was verbally confirmed that Populous World would announce the partnership. The partnership would entail LGC selling their invoices to us, as they claim to work with big brands up to the tune of more than a billion dollars. However, we received some negative feedbacks about them and decided to investigate further. It was in that moment that LGC decided to pull out of the partnership. However, upon seeing the success we had, they decided to pivot by issuing their own token. In a bid to garner attention to their own ICO, LGC then decided to have a public fall out. This is clearly shown by LGC releasing a press release about the falling out but ended it off trying to promote their own ICO.
The partnership with Komodo first started when they approached Populous World. They proposed that we could potentially use atomic swaps on our invoice finance platform (PIP). We were interested and considered performing a research on the integration on the basis that we were the exclusive invoice financing platform to incorporate their technology and signed a strategic partnership agreement that includes such exclusivity. However, the team reached out that they wanted to end the exclusivity agreement a few days after signing the agreement and we obliged. While the reason for their actions were not clear, it could be speculated that their investors were not too keen in the exclusivity agreement.
Initially, the head of terms were agreed and signed between Steve Nico Williams of Populous World and Sean Kiernan of DAG, however, before signing the shareholders agreement, we noticed certain clauses were not agreed as per the head of terms (also known as term sheet) and would not have been beneficial for Populous World in the long term. Populous World expected certain deliverance in terms of promises and products before issuing investment funds in line with the agreed head of terms. There were many back and forths in trying to finalise the contracts, but DAG would not agree to the head of terms they had signed. Therefore, at a very short notice, they decided that they did not want to adhere to pre-agreed terms and we obliged.