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Is OhmConnect out of money?

No Pain No GainNo Pain No Gain 93035Posts: 404Member
edited November 2018 in General Discussion

Events of the last month or so seem to point in that direction.

  • Cashing out is limited to once a month.
  • Prize OhmHours with no points to pay out
  • Very few regular OhmHours, even with hot weather
  • Buddy points haven't been paid since October 12th.
  • Rebate (in points) for Smart Plug hasn't been credited to accounts. (Getting rid of Store inventory?)
  • Staff admit they are severely understaffed. Are people jumping ship or can't they afford to hire anyone? I think the programmers were the first to go.
  • And now the new status update... Severe cuts across the board which will leave most of us with earnings similar to our 3rd month with OhmConnect.

Did a company that was once thriving commit business suicide by "giving away" $5,000 in prizes each week and turning to gimmicks instead of investing in the company and the users?

So much potential... gone. Just like that.

Comments

  • TamalTamal Posts: 7Member

    FWIW I received my (second) smart plug rebate.

  • No Pain No GainNo Pain No Gain 93035Posts: 404Member

    Thanks for that, @Tamal. After a week, I sent an email to the help desk and another OC email address. Never got a response.

  • SFPowerSaverSFPowerSaver SFPosts: 43Member

    I would hope not, they raised $8.5 million in April of this year. (https://www.crunchbase.com/organization/ohmconnect#section-funding-rounds)

  • RandersRanders San DiegoPosts: 9Member
    @No Pain No Gain They sure ACT like they are out of money! They've been miscalculating our buddy points for months now. My buddy has been emailing them but I can't even muster the energy to bother -- they are constantly shorting me of $, I don't even expect them to get it right anymore.

    I think the odds are quite low of ever again seeing the $40 or $60 OH payouts we saw in the summer (they've capped the OH at $20 now, right?).

    We got in while the getting was good ... it was a good ride!
  • dthatcher7dthatcher7 Posts: 27Member
    We want points, not prizes. It's become gimmicky.
  • XdatineliaXdatinelia Posts: 45Member
    I dont think they are out of money, I think they started an unsustainable business model. I said there when I didnt hit a cap at 300%. I am sitting at over 600% now. That's not doable with high users (all electric house in the country with a well) I understand why they restructured it..
  • cwiedcwied San MateoPosts: 137Member

    I would be very curious to know to what extent OhmConnect is subsidizing OhmHour payouts (if at all). I'm kind of hoping that it isn't that high and that the bonuses are coming out of the payout from the grid operators. I guess we'll find out by seeing how much payouts drop when the new streak cap comes into effect.

    It's clear that they were spending a lot of money to acquire users. I think it's to be expected that over the time they're going to tighten the purse strings. I don't think this can be taken as a sign that they're running out of money.

  • GregoryGregory Posts: 28Member

    I want a token refund on my streak shield.

  • rbarlinerbarline Posts: 11Member

    The idea of losing your streak if you opt out of a no-points OH is the last straw. I for one am cashing out and saying goodbye to OhmConnect. Goodbye. It was a great idea while it lasted but management made a wrong turn somewhere. And to think that I actually referred people .... now I have to apologize to them too.

  • No Pain No GainNo Pain No Gain 93035Posts: 404Member
    edited February 11

    When I posted this last November, I was already seeing things going wrong. Here we are in February,
    I tried to cash out a 2000 reward for a referral, but got this message: Unfortunately, cashing out is currently unavailable
    Clicked the link to see why, and OC explains they're being transparent and letting us know SCE hasn't paid them for 8 months. That's not transparency. That's pointing fingers and shifting blame. Read more on the thread: https://forum.ohmconnect.com/discussion/2141/no-payouts-for-sce-customers#latest
    If you're not an SCE customer and have points you can cash out, do so, because you may be next!

    Update: Go to that thread to see the latest. There was an outstanding conference call hosted by @samklee that has helped me see OhmConnect in a new light.

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