You have to say that very clearly at this point. Even the name already existed in 2005, as can be seen from the company register. So here is just an idea -copied- by the Berlin startup? Yes and no. Of course, repay.me is not a new invention of the Berlin startup, it is in our view a further development of the old idea from the year 2005 taking into account the current marketing opportunities on the Internet.
From our point of view, that should be clearly expressed by the company, because good developments have a certain charm.
Today, we have a completely different market on the Internet than in 2005. Today, companies like Repay.me have the ability to raise capital from investors through virtual IPOs. This is called ICO Initial Coin Offering today. Today almost 80% of Germans go online to make price comparisons and to shop there. In 2005, the rate was still below 50%. A huge step forward.
Today, the idea has much more opportunities than in 2005, you have to say that very clearly, and that the idea could prevail now, you can imagine that.
Nevertheless, the danger that even these companies could fail with the idea is, of course, „latent“, because in order to bring the idea on the Internet forefront need then and now, of course, a lot of money and very important from our point of view „attractive shop partners“. Only if both things are sufficiently present can an old idea become a new success.
At that time, the company that went for the first time with the basic idea on the market:
Repay GmbH shopping community, Königsbrunn (Bgm.-Wohlfarth-Str 78a, 86343 Königsbrunn). GmbH. Social Contract of 13.10.2005. Purpose of the Company: to provide shopping facilities that result in discounts, rebates or other benefits from the purchasing power of the Community, as well as the management of the members and their shareholding accounts. Share capital: 25,200.00 EUR. If only one managing director is appointed, he represents the company alone. If several managing directors are appointed, the company is represented by two managing directors or by a managing director together with an authorized officer. Managing Director: Ehrsam, Rainer, Starnberg, born. 19 ??, with the authority to enter into legal transactions with himself or as a representative of a third party on behalf of the Company.