Unaico rebranded as The Opportunity Network, or OPN, on May 12, 2012, aiming to distance itself from its previous operations as an MLM business opportunity tied to the social network SiteTalk. This change followed concerns over its financial structure and the background of its founder.
In April 2011, Unaico operated an MLM model where commissions came from shopping purchases made within the SiteTalk network. Rune Evensen served as CEO for both Unaico and SiteTalk. Both companies operated under the Enigro Group, founded by Jarle Thorsen.
An initial review of Unaico in 2011 found the SiteTalk component acceptable, but the virtual shares offered by the company raised a significant red flag. Affiliates deposited real money and received shares in return. These shares were tradeable among affiliates, with their value based solely on affiliate speculation, not on any underlying asset or company performance.
Jarle Thorsen has a history of involvement with several pyramid schemes, including Worldwide Alliance, T5PC, World Games Inc., and PlexPay. The virtual share offering in Unaico appeared to continue this pattern.
The May 12, 2012, media release announced OPN would take over the direct selling operations. It also launched SiteTalk 2.0, the newest version of the social media platform, featuring new shopping "Deals" and local market discounts for users.
The press release listed an address in Singapore: #17-01 The Arcade, Collyer Quay. This same address appears on the OPN website domain registration, suggesting it as a primary location.
However, The Opportunity Network's website also provides a different address: a PO Box in the Cayman Islands, specifically OPN LTD, TMF(Cayman) Ltd., 1st Floor, Windward 1, Regatta Office Park, P.O. Box 10338, Grand Cayman KY1-1003. The Cayman Islands are a known tax haven.
Further adding to the confusion, The Opportunity Network's Policies and Procedures state that "All arbitration proceedings shall be held in the United Kingdom." This means three different countries across three continents claim jurisdiction or a primary address for the company. The Opportunity Network's website offers no clarification on these discrepancies.