It does not sting. For people whose skin flares with L-ascorbic acid, that is genuinely the selling point, and it delivers on it.
Three different derivatives — 3-O-ethyl ascorbic acid, THD ascorbate, and magnesium ascorbyl phosphate. The theory is that different forms penetrate differently and complement each other.
Caffeine has modest real evidence for reducing puffiness and redness through mild vasoconstriction. It is a supporting player, not a headline.
Lightweight, fast-absorbing, and well-reviewed on texture.