MLM Fact Or Fiction: VEMMA Founder, BK Boreyko Turns Down $2.2 Billion Coke Cola Buyout?

Well, just when I think I have seen it all, something like the above headline comes into my email or FB page. Yes, this is what happened this weekend. But… BK Boreyko was fast to shut down the rumor! But what is the truth behind the rumor… Did Coke make an offer or did Boreyko turn it down?

Both are rumors. Coke did not offer to buy VEMMA, and BK did not turn down their offer. 🙂

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But, we can use this as a good training topic. Because BK Boreyko is one of the most active Social Media CEOs in direct selling, as messages started hitting his Facebook inbox and emails, he was able to STOP the rumor before it went viral. But… What could have happened if Boreyko had let it ride and NOT responded at all?

Well one possible situation would have been for him to walk into the VEMMA offices today to a lawsuit for allowing the rumor to gain any traction. Since Coke Cola is a public company, they seem to frown on any rumors that can cause shifts in stock prices.

 

And, second because the Coke Cola brand is one of the most respected in the world, when their name is attached to anything, a huge due diligence period takes place, and a high licensing fee is paid to the usage if approved.

Now something else we need to review is the fact, any serious business owner, would NOT turn down a $2.2 billion dollar buyout of their company on annualized sales of $240 million, which is where VEMMA is projected to end up by years end!

Vemma

The two take aways from this situation are:

1. Company executives should stay on top of any major rumors that are flowing around the net to protect their brand.

2. Distributors should not believe and post everything they hear about their company until an official message is broadcasted from the corporate office.

 

 

 

 

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EDITOR’S NOTE:

I am not saying BK would sell at all. In jest I did say… His sisters might not let him say no!

Again the video is not on BK selling or not selling. It is on what to do and not to do with Rumors.

If I were to make a guess, I would say that someone who saw this has already started saying “Troy Dooly just said BK would sell for the right price!” Which is how rumors get started. Someone takes something they heard, and spread it out of context.

I did state in the video above the based on the e-myth most founders do not fall in love with their companies to such a degree that it skews their judgement on when to sell or do whatever it takes to make sure the company continues to grow. This might be in selling, going public or finding an equity partner.

And I did say I knew BK well enough to know his passion is to leave a legacy.

Heck now I may have to start shooting videos to explain the videos I just shot.

Again the whole context is for all of us to verify info with corporate before spreading it.

I also beleive like Art Williams the founder of Primerica, BK has created a culture, both inside the corporate office and in the field that he loves enough to do whatever it takes to insure the legacy and dreams of each Brand Partner far outlives his leadership.

His track record already proves he will do everything in his power, like Art Williams to ensure the future!

From Brad Wayment and Dr. Wang and the team they have created. To Ruth Elliot and Tom Alkazin and the leaders they have attracted over the last seven years, I can see the same culture as at Primerica. Today Primercia is led by one of Art’s understudies and the origial RVPs (who have not passed on) are still raising up a new generation 20 years after Art sold the company and retired.

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2 thoughts on “MLM Fact Or Fiction: VEMMA Founder, BK Boreyko Turns Down $2.2 Billion Coke Cola Buyout?”

  1. Thanks for your comment.

    It is so funny to me how many people missed the point of the video totally and even specifically what I said about BK and selling.

    I suggest going back again and watching the video.

    BK is ALL ABOUT creating and leaving a legacy as a community. VEMMA is not about BK, it is about the culture that the Brand Partners have created!

    VEMMA should not be compared to Herbalife and BK should not be compared to Mark Hughs.

    I would compare BK with Art Williams. And VEMMA with Primerica when it comes to culture.

    Art created leaders who he knew could carry on the legacy and mission of the company far after he was gone. Today his understudy runs the company from the inside and the original RVPs (who have not passed away) are still growing the culture and leading a new generation.

    BK has done the same thing. He has Brad who leads the team from the inside and he has Tom and Ruth who have done a remarkable job of leading the field and attracting some of the greatest teams in history.

    But, if you or anyone thinks BK Boreyko would put himself before what is best for the Brand Partners, then think again.

    And if that meant he and the team felt he had taken VEMMA as far as he could, and they needed to do something to ensure the dreams of the brand partners continued to live on, he would do it!

    His track record shows time and time again that HE always puts the Brand Partners first.

    So, your comment about him selling out… Well that was completely out of context of the message of this video.

    Again, thank you for sharing and adding value to this community.

  2. Your input on BK selling Vemma, (and I understand the offer was a rumor), as being what companies are “all about” … I could not disagree with you more. Network marketing companies are very different from any other business structure. The magic of Vemma is a partnership between BK, and the brand partners, and the team at home office. Should BK sell the company, he would (in a sense) be selling out the brand partners. Basically saying, “I got $2 billion to cash out.” It just would never work nor would BK ever consider it. (Per many in Herbalife, when Mark Hughes passed away, the company lost its magic. And I am sure long before Hughes passed away he wished he’d never taken the company public.) BK does what he does because he loves it and was actually offered a buy-out in his previous company, which he turned down. And I don’t believe your premise, that the goal to creating a company is to sell it. Maybe that is the “dot com” goal or the “widget-company” goal but network marketing companies are very different. And in network marketing, there being such a close connection between the field and the owner of the company (all the way to his or her personality and brand of leadership), it would only very rarely work. It’d be like taking the heart out of a body or the engine out of a care. I would imagine the company would lose its momentum and its leadership – for starters.

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