Overview:

When BitClave’s ICO went live, they reached their hard cap of 25m USD in just 32 seconds. This news has been widely misreported somewhat, as most outlets fail to mention the 22m USD they secured in pre-ICO investments which cannot be verified and ultimately are a mere declaration from the issuer.
This project was promised to be a next-generation rival to Google, Yahoo and Bing, proposing a truly decentralised search engine that would eradicate the need for 3rd party advertising and concerns over user privacy. However, their premises were and still are very limited, when compared to what it reasonably takes to compete against these giants.  

Almost two years later, the BitClave project is dead in the water. No real product has ever been released, no tangible updates have been provided by the team and a string of red flags crop up when investigating the background of this company and their endeavours.