Every now and then – thankfully, not very often – someone posts a comment on social media alleging that MAGFAST is a scam.
Sometimes, they’ll attempt to bolster the allegation with what they claim to be ‘evidence’. It’s invariably anything but. More often, however, they just make a groundless claim and then retreat behind the wall of anonymity that only social media can provide.
The vast majority of consumers – whether you’re a MAGFAST customer yet or not – know us to be a genuine and wholly ethical business doing our level best to – as we say – “change charging for good”.
How?
By developing the very first family of premium device chargers designed to be both individually best in class … and even better together as a family.
We believe we’ve succeeded. The first of these ground-breaking products are in production and far exceeding expectations.
But for the few individuals who remain unconvinced, I thought I would set out a few aspects of our business operations that would prevent any rational person from concluding that we could be a scam.
- In November 2020, MAGFAST embarked on its first external capital raise through a public offering. The issuance was fully subscribed, raising over $1 million in a matter of hours, and filled entirely by our customers and followers, the folks who know us best.
The share offering was undertaken in partnership with Netcapital, one of the most highly regarded private capital markets platforms in the US, and so it fell entirely under the regulatory supervision of the SEC – the Securities & Exchange Commission. That’s the US Federal Government and, as they say, ‘you don’t mess with the Feds’. The offer was such a success that we are currently finalizing the legal and financial work – including further extensive review by the SEC – for a ‘Regulation A’ offering later this year. - Since the inception of the MAGFAST project back in 2017, most weeks we have published video updates – over 170 to date (!) – to keep our customers fully informed. As Kate Kinard, my delightful co-host of these shows, once said of a naysayer: “Oh, so he thinks we’re a scam that has produced a web show almost every week for three years?” The UPGRADE as we call the show covers the progress we’re making in product development – from concepting, to tooling, to manufacturing, to delivery, as well as taking viewers behind the scenes to learn more about the business.
- It’s sometimes claimed that, within our update videos and other marketing collateral, we only ever show ‘dummy’, non-working units. Clearly, that would have been the case in the very early days of MAGFAST when we were still experimenting with the product specifications and perfecting the designs, but – as our video updates over recent months have clearly shown – we are now in a position to showcase fully functioning, operational units taken directly from our production line.
- At MAGFAST, we’re passionate about developing the world’s best chargers and, as a result, we subject them to the most exacting of testing regimes. One of our power bank products – Extreme – is so powerful, it can jump-start a vehicle. To prove the point, we tested it recently … not on a mainstream family sedan however, but on a 5.4 liter Ford truck. Extreme jump-started the truck no fewer than 75 times with the truck’s own battery disconnected!
- MAGFAST has a dedicated in-house team, plus a number of consultant and agency partners. Of these, fully five work within our Customer Services department, and would love to hear from you any time at +1 863 MAGFAST or simply Hello@MAGFAST.com.
- Scams don’t work diligently on IP or ‘Intellectual Property’. MAGFAST, however, has a growing and respected portfolio of Trademarks, Patents, Copyright and what are known mysteriously as ‘trade secrets’. Our MAGFAST® brand, for instance, is a registered trademark in the US, Europe and dozens of other countries and territories worldwide. In addition, we have a number of both issued and pending design and utility patents – including an issued utility patent on our core ‘snap-to-charge’ innovation.
- Finally I’m always sad when someone accuses us of doing something that it seems many, many businesses do, but which crosses an ethical line for us: fake reviews.
We have never, ever – not even once – written a review of ourselves. You can look for yourself at Trustpilot, Google Reviews, BBB, Product Hunt etc. The only words you’ll find there written by us are in response to others. This is a critical principle for us. You may not be able to trust reviews about many companies – there are armies of fake review writers out there – but we never have and never will write our own, nor incentivize anyone else to do so. We just ask folks to share their honest opinion of what we’re doing – and most seem to think it’s pretty swell.
Getting this project right – not least in the middle of a global pandemic – has taken way longer than we expected. Inevitably – out of many tens of thousands of pre-order customers – a handful have expressed their frustration online. Whenever they get in touch with us, we bend over backwards to make sure they’re happy waiting – or issue a prompt and courteous refund if they choose not to.
So while it’s been a long journey from developing the original concept for our revolutionary suite of premium chargers to seeing those first few fully-functioning units finally emerge from the production line just a few days ago, we couldn’t be more grateful to our wonderfully loyal customers who have supported us all the way. Thank you.
