DATS - DatChat: A Copycat Company Overvalued By 70% With No Revenue
- DATS' private messaging app's features aren't unique. All can be found on other messaging apps, most of which have not been successful in attracting users.
- Despite marketing itself as using blockchain technology, DatChat's blockchain technology is still under development for another 11 months. Other messaging apps such as Dust and Sense Chat already use blockchain.
- DatChat's app currently has only 22.5K users and generates zero revenue.
- Based on the undifferentiated tech, comps, and our future estimates for the company, we believe DatChat is overvalued by 70%.
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DatChat: A Copycat Company Overvalued By 70% With No Revenue