Onpassive

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Onpassive
IndustrySoftware as a service
Founded2018; 6 years ago (2018)
FoundersAshraf Mufareh
Headquarters
Dubai, United Arab Emirates
Key people
  • Ashraf Mufareh
    (CEO)
  • Mohamed Kamal
    (COO)
  • Mohammad Nazzal
    (CMO)
  • Michael Curran
    (CFO)
  • Mohamed Mourad
    (CIO)

Onpassive is a technology company based in Dubai that develops AI-powered marketing, CRM, international business and similar software.[1][2] The company maintains headquarters in the Burj Khalifa, in Dubai, as well as offices in the United States, India, Singapore, Bangladesh and Egypt.[3]

In 2023, Onpassive purchased naming rights to a metro station in Dubai, through an arrangement with the Dubai Roads and Transport Authority.[4][5][6] It was named after the company for 10 years in January 2022.

The U.S. Securities and Exchange Commission filed a claim against Onpassive, Ashraf Mufareh, and his wife Asmahan Mufareh, accusing the company of being a pyramid scheme, presenting itself as a multi-level marketing organization but having no commercial products.[7][8] The Mufarehs were charged individually as co-founders and co-owners of the company, the SEC alleged that Ashraf had sole and final control of company operations, while Asmahan was charged as a relief defendant and recipient of illegitimate funds.[9]

History[edit]

The company was founded in 2018 by Ashraf Mufareh. In September 2020, Onpassive opened its first facility in Hyderabad, India.[10]

A month later, after its launch in Dubai in March 2022,[10] it announced the opening of its headquarters at Burj Khalifa.[11][12][13]

In April 2022, campaign dedicated to launch of the UAE headquarters was introduced with an outdoor marketing campaign, including two projections on Burj Khalifa, where their offices are located and extended to all prominent areas of Dubai. The company also held four more projections in May 2022, and one more was held in June dedicated to officially close O-Founder.[11]

In September, Onpassive launched its new headquarters in the UAE and announced its crowdfunding platform 'O-Bless'.[14][15]

Onpassive began operations in Nigeria in October 2022.[16]

In November 2022, Onpassive partnered with beIN Sports, which announced record-breaking cumulative viewership of 5.4 Billion for 2022 FIFA World Cup, to sponsor UEFA Champions League and La Liga streaming in Qatar.[17][citation needed] In the same month, Onpassive launched its software products called "O-Mail", "O-Net" and "O-Trim".[18]

In January 2023, Onpassive reached an agreement with the Dubai Roads and Transport Authority to secure naming rights to the Al Safa Metro Station for the next 10 years.[19][4][20][6]

In February 2023, “O-Media” (a subsidiary of Onpassive) signed an agreement with Best Moment Events (a UAE-based events management company) to organize a series of events and concerts for Arab celebrities in the UAE and other Arab countries.[21][22][23] During the event, 350 delegates and representatives from 40 countries participated in the forum, representing different institutions.[24][25]

In August 2023, the U.S. Securities and Exchange Commission filed a complaint against Onpassive, accusing it of fraudulently offering investors unregistered securities and operating an illegal pyramid scheme.[9] The SEC claimed that, since its founding in 2018, Onpassive had sold investors positions in a multi-level marketing arrangement for US$97, promising to pay them passive income from subscription fees paid by later investors. It further accused the company of material misrepresentations about the timing of commercial product launches, the magnitude of anticipated profits, and the legality of its operations, while failing to launch any commercial applications or commence paying commissions, as of June 2023.[7]

See also[edit]

References[edit]

  1. ^ "ONPASSIVE Dubai Metro Station: Al Safa, one of Dubai's busiest metro stations, named ONPASSIVE". TimesNow. 10 January 2023. Retrieved 3 June 2023.
  2. ^ Zeyad (17 January 2023). "Onpassive acquires naming right of Dubai's busiest metro station Infrastructure". The Plunge Daily. Retrieved 3 June 2023.
  3. ^ "About Onpassive". Onpassive. 10 May 2023. Archived from the original on 7 September 2023. Retrieved 7 September 2023.
  4. ^ a b "Dubai: Al Safa Metro Station renamed Onpassive for 10 years". gulfnews.com. 11 January 2023. Retrieved 3 June 2023.
  5. ^ Salian, Neesha (12 January 2023). "Dubai's Al Safa Metro Station has a new name". Retrieved 3 June 2023.
  6. ^ a b "طرق دبي تمنح حقوق تسمية محطة "الصفا" لشركة "أون باسيف" لمدة 10 أعوام". wam. 11 January 2023. Retrieved 3 June 2023.
  7. ^ a b U.S. Securities and Exchange Commission (11 August 2023). "SEC Sues Alleged Perpetrators of Fraudulent Multi-Level Marketing Scheme and Unregistered Offering" (Press release). U.S. Securities and Exchange Commission. Retrieved 21 August 2023.
  8. ^ Jude Karabus (15 August 2023). "Can you raise $100M+ from AI investors with no product? SEC says yes". The Register. Retrieved 7 September 2023.
  9. ^ a b U.S. Securities and Exchange Commission (11 August 2023). "SECURITIES EXCHANGE COMMISSION vs. ASHRAF MUFAREH AND ONPASSIVE LLC" (PDF). www.sec.gov. Retrieved 21 August 2023.
  10. ^ a b Onpassive (19 April 2022). ONPASSIVE deployed a MASSIVE marketing campaign – across Dubai City and Burj Khalifa. Retrieved 3 June 2023.
  11. ^ a b ONPASSIVE (15 April 2022). #ONPASSIVE NOW IS "THE TOP" COMPANY IN THE WORLD @ Burj Khalifa Dubai. Retrieved 3 June 2023.
  12. ^ ONPASSIVE (18 April 2022). WOW #ONPASSIVE #DUBAI is Setting New Records. The World is Watching Now. Retrieved 3 June 2023.
  13. ^ ONPASSIVE (30 April 2022). ONPASSIVE RAISING THE BAR IN DUBAI. Retrieved 3 June 2023.
  14. ^ "ONPASSIVE launches in UAE with OOH campaign". Campaign Middle East. 27 September 2022. Retrieved 3 June 2023.
  15. ^ Today, Telangana (2 October 2021). "Onpassive building a crowdfunding platform driven by AI, ML". Telangana Today. Retrieved 3 June 2023.
  16. ^ Nigeria, Guardian (10 October 2022). "Onpassive to kick-start operations in Nigeria". The Guardian Nigeria News – Nigeria and World News. Retrieved 3 June 2023.
  17. ^ "beIN SPORTS Announces Record-Breaking Cumulative Viewership of 5.4 billion for FIFA World Cup Qatar 2022™". beIN SPORTS. 26 December 2022. Retrieved 3 June 2023.
  18. ^ Khan, Zeyad Masroor (25 November 2022). "Onpassive Globally Launches Its First Set Of Disruptive Solution Technology". The Plunge Daily. Retrieved 3 June 2023.
  19. ^ "В Дубае переименовали еще одну станцию метро". russianemirates.com (in Russian). Retrieved 3 June 2023.
  20. ^ Staff Writer (11 January 2023). "Dubai Metro announces Al Safa station renamed after AI tech firm Onpassive". Arabian Business.
  21. ^ "الذكاء الاصطناعي يشارك في الترويج حفلات لكبار الفنانين العرب بالإمارات". الأسبوع (in Arabic). Retrieved 20 June 2023.
  22. ^ MediaNatureTeam!. "اتفاقية شراكة بين شركتي بيست مومنت وأون باسيف". mebusiness.ae (in Arabic). Retrieved 20 June 2023.
  23. ^ "مومنتس ايفنتس أول شركة إماراتية تدخل عالم حفلات الذكاء الإصطناعي". ET بالعربي (in Arabic). 23 February 2023. Retrieved 20 June 2023.
  24. ^ "المنتدى العالمي لرائدات الأعمال ينطلق الجمعة في أبوظبي". www.albayan.ae (in Arabic). 3 March 2023. Retrieved 3 June 2023.
  25. ^ "350 شخصية من 40 دولة في منتدى رائدات الأعمال في أبوظبي 10 مارس". صحيفة الخليج (in Arabic). Retrieved 3 June 2023.
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