International Auto Club Launches ICO Pre-sale

The company seeks USD 50 million

by Marina Ovcharova
25 January • 2 min
In News

International Auto Club (IAC), which offers a service seeking to ensure the best combination of a marketplace, a cashback service and an affiliate system, launched on Thursday the pre-sale of an Initial Coin Offering (ICO), aiming to raise USD 50 million. The company sells its AutoUnit tokens at a price of USD 1 per unit, accepting Ethereum. The pre-ICO will run till mid-March.

IAC’s platform functions as an online marketplace, enabling customers to get the best-rated automobile goods from recommended providers at the best price and get involved in an affiliate programme. Set up four years ago, IAC has developed to one of the largest cashback services in Russia and the CSI countries with more than 650 000 users and a turnover of over USD 10 million.

With the ICO, IAC aims to move to blockchain technology and allow payments between users to be made in AutoUnit.

 

IAC provides solutions for both businesses and consumers

 

IAC’s platform connects auto parts and goods' manufacturers and distributors with a number of potential clients. The membership in the International Auto Club gives the customers the opportunity to buy goods from more than 12 000 auto-providers. The affiliate system provides also cashback, depending on the plan (Partner or VIP) and creates additional opportunities for earnings.

Businesses, on their part, get access to a large customer community. They can also receive advertising discounts and gain access to a loyalty programme, among others.

By adding the blockchain technology to the platform, IAC aims to make purchases safer and the processes faster and more transparent.