I think the business they offer is legit and they will deliver what they promise.
However, they sell CPU cloud mining right from the beginning and call this genesis mining. Contracts are running at least 3 months. In my eyes that's a trap. On their tumblr blog they show pictures and performance evaluations of their private GPU miners.
If you ask me, they will use profits from zeropond to fund their private GPU farms. Which is totally legit as they can do whatever they want with that money.
But in my eyes, on a totally personal note, I'm sceptical why they sell CPU hashing power but run private GPU farms. If they have the technology and the hardware and the knowlefdge and the working miner implementation - why not selling GPU cloud mining? Because they want the private advantage!
I'm sorry if this post is very opinionated, but I confronted Tim of Zeropond on reddit with the GPU topic and all I got was silence.
TL;DR zeropond looks legit, but do you really want to pay for CPU mining?
Edit: One more thing, in some reddit post they say, they will be able to deliver 100 H/s in total hashrate in October. 100 H/s in total. Now, if you go to their homepage they offer single packages with 100 H/s. And you can even request more. I am wondering how they suddenly are able to supply multiple kilo H/s. Just another side note.