Shawn Will registered the "sociobonanza.com" domain on December 10, 2014, listing an address in Quebec City, Canada. The Socio Bonanza website, however, offers no details about its executive management or overall company ownership. No public record of Will's prior involvement in other multi-level marketing ventures has emerged.
Socio Bonanza offers no products or services for retail sale. Affiliates join for free, then purchase "iPack subscription units" at $15 each. Each iPack includes advertising credits, which affiliates can use to display ads on the Socio Bonanza website. The company also advertises banner advertising on its "globally acknowledged network" for $10 to $550 monthly. This banner service appears separate from the MLM compensation structure.
The core of the Socio Bonanza compensation plan relies on affiliates investing in iPack units. Each $15 iPack promises a $23.25 return on investment. This ROI pays out daily, ranging from 18 to 26 cents per invested iPack. Affiliates cannot withdraw more than $300 per day.
Referral commissions are paid on downline iPack investments across ten recruitment levels. Socio Bonanza uses a unilevel structure for these commissions. A new affiliate begins a unilevel team, with directly recruited individuals forming Level 1. Any affiliates recruited by Level 1 members become Level 2, and so on.
Commission rates vary by level. Personal recruits on Level 1 earn the referrer 5%. Level 2 recruits generate 3%, and Level 3 yields 2%. Levels 4 through 6 pay 1% commissions. Finally, Levels 7 through 10 provide a 0.5% commission. Affiliate membership for Socio Bonanza is free. However, affiliates must invest in iPack units to withdraw any earned commissions. If all website traffic consists of affiliates, the site's ability to generate revenue from banner sales becomes questionable, leaving only new affiliate investments as the source of returns.