These young entrepreneurs are not a legitimate business and are set up to look as if they are interested in your product or patent for investing. They try to make their “initial offer” look legitimate. However, they DO NOT invest any money into your company…only their time. They so called “investor” who was apparently not affiliated in the company has told me he was working for the company. These guys are liars and scammers and are not transparent about what they do.
They scam patent and business owners into trying to partner together and charge them a $8,000-20,000 fee.
After 3 days of fake conversations, emails, and phone calls with these nonprofessionals they tried to pressure my business partners into making a decision on the phone. BE CAREFUL- these guys most likely record the calls and try to pressure you into accepting their fake terms so you can give up control of your company or give them authority to act on behalf of your company when really all their trying to do is take your company from you.
Extremely shady and try to scam you in every possible way to try and see how capable you are to sue them if they were to take your product and put out to market without you..Their not so smart in how they operate and are bound to get sued. In my case, I had them sign two Non-Disclosures and I will have my Attorney do thorough investigation of what just happened. Their offer letter is a joke as well claiming to offer you an A,B, & C choice…of which non actually them investing in your company. They offer to provide services worth of tens-thousands of dollars when in reality they have no proof of what products they actually got to market. Be warned- if you already had interactions with them or sent them any information..get ready to take them to court. We certainly are.
Idea Buyer LLC claims to be comparable to Shark Tank. Once they lure you in by raving about what a fantastic idea you have and all the ways it is destined to work, you’ll pay $1000 just to talk to the CEO Eric Corl over the phone, who with dollar signs in his eyes will again rave about how genius your idea is and how he just can’t wait to see the finished product.
They quickly want the remaining $6500 to “hurry the process” before anyone else jumps on it. Once they have the full payment and you sign their contract youre screwed. Communication standards are low. We’re talking low motivation, low enthusiasm, slow moving to get you any kind of results which looking back over the 10 month period, which was suppose to take 6, the results were never really results but just giving us the run around for God knows what reason. In the end they just end up telling you that if you have the funds to pull it all off then theyre happy for you but if that was the case we wouldn’t have hired them with the intent of giving them 15% of all future profits.
We looked into their local BBB at the time and they had a great score. But after suspicions arose we checked again and they were at a D-. We checked again a few months later and they were back at an A standing. Come to find out BBB is all about how much the company is paying into them, not about the consumers well being.
If you already have a lot of money to play with you might give it a try if nothing else for sole entertainment. We, however, are raising a family and now have about 4 years left to make monthly payments of about $200 per month, which as any family knows is not an easy feate.
Its unfortunate that Ari Macellino hooked us like this, most likely to make his monthly quota. But I sure wouldn’t want to put anyone else thorugh this hell. Building someone up that much just to tear them down this low is just asking for Karma to bite them in the butt. Anyone so consumed with making money that they are willing to cause this kind of turmoil in families are less than human.
Here are some of the critical reviews which were we compiled from various websites. Some of them were of course removed by Idea Buyer, but they were all archived.