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Re: Anyone know anything about PHATIDEA.COM?

Postby jackbnimble56 » Sun Jan 24, 2010 5:56 am

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Roger

Here's the text of the e-mail I sent in response to the message I received from Phat Idea:

Hi

In answer to your question, my product is currently packaged and shipped on an as-needed basis. I have enough product and packaging materials on hand to package approximately 5,000 Magic Toob kits.

It's not entirely clear to me exactly what Phat Idea does. I see that your web site went live back in August 2009 but when I look at your various product categories they all say "This category doesn't have anything in it, but check back soon." How is Phat Idea any different from the sites shown below?

http://www.inventbay.com/
http://www.ideaconnection.com/new-inventions/
http://www.inventube.com/resource/index ... Itemid=110


I had the Magic Toob product on Idea Buyer for several months but decided it was a waste of time and money. It's still listed for free on Patent Auction:

http://www.patentauction.com/patent.php?nb=4401

When I do Google search under "Invention Buyers" I get 1.4 million hits. How does Phat Idea distinguish itself from all those other competitors? Why should the big box retailers even bother with such sites when they have inventors contacting them daily wanting them to review their ideas? What do you mean when you talk about discussing your "contract and terms"? Why aren't your terms spelled out on your site? As you can see, I presently have more questions than answers...

Jack D'Alelio
Nimble Jack Enterprises
Nimble Jack Enterprises - Innovative Solutions to Everyday Problems
To purchase the Magic Toob product visit: http://www.magictoob.com/

Re: Anyone know anything about PHATIDEA.COM?

Postby Roger Brown » Sun Jan 24, 2010 9:11 am

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Jack, I thought you hit the nail on the head. It will be interesting to see their response.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.

Re: Anyone know anything about PHATIDEA.COM?

Postby jackbnimble56 » Sun Jan 24, 2010 8:29 pm

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As per the discussion Roger and I recently had, the response from Phat Idea appears below. I haven't responded to them just yet but when I do I plan to let them know that there are a lot of (skeptical) eyes on them! But now at least, I'm still willing to give them the benefit of the doubt. If anyone else can think of a question for these guys please chime in as I will incorporate the feedback from this forum into the response. Thanks!

Jack

Jack,

Thanks for your note. Yes, PHATIDEA is a new business, but not new to product development, marketing and helping individuals like yourself in gaining acceptance of a new product.

Invent Bay is a website showcasing Inventions in hopes of locating an individual/business entity who may be interested in partnering with the Inventor in hopes of taking their IDEA/product to the next level. PHATIDEA is this individual/business entity that will partner with you and do just that, help turn your product into profits . Invent Bay does not discriminate and most of its submitted IDEAS/Products are not ready to bring to market. PHATIDEA only will actively sell and market a product that is post-manufacture and ready to ship to consumers. The great thing about PHATIDEA, that I believe you can appreciate, is twofold. The Inventor makes money as their product sells on PHATIDEA and the potential of an Angel Investor, Partner, Big Box retailer taking notice of your product is also possible.

Invent Bay does also offer “Exposure Packages,” to its inventors. We are unsure of these packages success but they do require an upfront fee.

Idea Connection does not play in our space and allows ANYONE to post an IDEA on their site. Its products are B2B and it is not a shopping cart site. If you pull back, the companies main focus is not selling your IDEA or supporting it though marketing and advertising efforts.

Invent Tube helps you market your product through web design, advertising and marketing consulting. PHATIDEA is your product’s WEBSITE and your PR, marketing, advertising firm, for ZERO upfront fee.

Idea Buyer is similar to Invent Bay.

Patent Auction sells Patents; not our business. PHATIDEA does believe this is a growing marketplace but is unsure through what means this market will develop.

All the above sites merely allow Inventors to post their IDEAS/products online, no different than a message board. Sure, it may get you exposure but it puts no money in your pocket and their efforts are not focused on making your IDEA a PHATIDEA. Their sites are not built for consumers. Not sure how many Jack and Jill’s shop at Invent Bay (probably very few), the site is not targeting the end-user or individual consumer.

PHATIDEA.COM is a FREE service (always will be), we charge no upfront fees to Feature/Sell, market, advertise and drive traffic to your product on our site. If your product never sells on our site we make no money. So just as you want to see your IDEA sell, so do we. Both PHATIDEA and the Inventor’s interests are aligned. It’s that simple. Think of us as the http://www.amazon.com for IDEAS. The difference, we sell your product without the large inventory requirements, upfront fees and other financial strains most individual inventors cannot afford. PHATIDEA sells your product to the end-user, not Boeing, 3M or GE.

PHATIDEA.COM is a site built to market your IDEA to consumers. The site lays out similar to any of your well known shopping cart sites. An IDEAS exposure will be that of quality and the IDEAS we feature will only be quality IDEAS.

Please read our About PHAT IDEA link (a brief excerpt):

“PHATIDEA understands the constraints of obtaining financing, the challenges of fulfilling big box retailer inventory requirements. How about just getting someone at these retailers to answer your call and email? PHATIDEA is familiar with the promises “Invent-a…” businesses make and all the money they take. PHATIDEA.COM will showcase your “Idea” with NO upfront charge/fee. Why spend $10,000 on a website and countless hours maintaining shopping carts when PHATIDEA.COM has built a turnkey solution to matching buyers with sellers? With a central web address on the internet for all “Ideas,” PHATIDEA.COM will be THE recognizable portal to the world versus a single product website that has to originate traffic via expensive PR, Advertising and other media avenues that provide little guarantee of long term success for your PHATIDEA.”

We believe the difference is CLEAR, PHATIDEA is the choice for Inventors looking to unlock the earnings potential of their product NOW.

PHATIDEA does have to make money to pay its bills. Our contract is drafted per individual IDEA we sell. They include our expectations of customer service to the buyer of your product, turnaround times, inventory levels and a percentage of each item that sells. PHATIDEA does not have a link to the contract on its site simply because PHATIDEA.COM is a retail site. It is not common place to make vendor legal contract terms available on a retail site.

Hope this helps answer your questions.

Regards,
PHATIDEA
4647 E Roy Rogers Road
Cave Creek, AZ 85331
480-773-7073

http://www.phatidea.com
Nimble Jack Enterprises - Innovative Solutions to Everyday Problems
To purchase the Magic Toob product visit: http://www.magictoob.com/

Re: Anyone know anything about PHATIDEA.COM?

Postby rifreede » Mon Feb 01, 2010 2:31 pm

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I spoke to someone at phatidea last week, sorry no update prior to today. They do share a phone numebr in their emails. The site is totally free to list your product. The challenging part is getting them to pick your product, as far as I can tell. Otherwise the individual reassured me that if the product is on the site for 6 months and does not sell, you pay NOTHING. They make their money from a cut of each sale, which is negotiated. Sounds good to me. No huge inventory requirements, no initial FEES.

The initial investment they are referring to bottleslingguy is the investment to make and package a handful or products ready for sale. That makes sense and I confirmed this. They are not interested in products that are not ready to ship.

So truley this companies sales focus is inline with ours. If the product doesn't sell, phatidea makes no money. How much more aligned can they be to the success of your product. I am going to send them one of my products today.
Note from the administrator: This user has been determined also to be the user "phatidea" and a representative of PhatIdea.

Re: Anyone know anything about PHATIDEA.COM?

Postby PennyB » Thu May 20, 2010 6:27 pm

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I really like the below disclosure written by Michelle - listed at the base of the last post from someone seemingly NOT connected and applying to or having spoken with someone at PHAT.
"Note from the administrator: This user has been determined also to be the user "phatidea" and a representative of PhatIdea."
=====================================================

The owner is Demetrios Anifantis
4647 E Roy Rogers Road
Cave Creek, AZ 85331
480-773-7073
http://www.phatidea.com/cart.php

He works out of his home and appears to be a web site designer too.

He is no slouch. My research points to him having been a professor at the University of Arizona in the economics dept. He has an MBA from Fordham too. A couple of students rate him:
http://www2.ratemyprofessors.com/ShowRa ... tid=697453

It would appear he's working in the treasury dept at BBVA Compass in Phoenix in the day. As a former whistleblower (while working for a prior investment company)and despite laws on the books he got fired. Like "they" say, where there's a will there's a way to remove anyone books or no books.

He registered PHATIDEA.COM LLC September 1st, 2009 to his home address. So as far as those "office hours" - there doesn't appear to be an office but a modest 1995 home - but it looks good on paper, eh?

I didn't find any trail pertaining to patents or experience in "this" business so likely it's just an opportunity to try to make some money. As someone said, there are lots of sites offering the same model. No doubt there will be a book for sale too from mny of these types of site owners, shortly.
=================

Anyone know why smilies no longer work for me? Smilies "are ON" but I click one and I'm shot to the top of the page after which I cursor back down where I was (mid typing this message). What am I not doing?

P

Re: Anyone know anything about PHATIDEA.COM?

Postby apapage » Thu May 20, 2010 7:41 pm

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Wow. Very impressive. Next time I need a background check on someone, I'll be sure to call Penny.

Re: Anyone know anything about PHATIDEA.COM?

Postby PennyB » Thu May 20, 2010 8:45 pm

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apapage wrote:Wow. Very impressive. Next time I need a background check on someone, I'll be sure to call Penny.

====================================================

There's more but the above should surffice. He appears a harmless newbie perhaps a tad out of his depth in this field........but he does have business, marketing and research background experience in financial sectors so I'm confident he can show me a thing or two too.

Here's another one using the same business model to try on for size to see what you or whomever can find out as to who is behind it. They have erected virtually the Great Wall of China into any inroad to learn who they are unlike the above who was easy to research. They were a challenge: http://www.designmindgroup.net

Here's another one to try on for size except it expects a $100 fee, per invention submission: https://www.quirky.com/ideas/new

Fun in the sun!!!!


PS. Why aren't those smilies working for me?
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