I received this new as it was released to the public through the PR Wires and thought… “These boys are putting their money where mouths are! In a world where network marketing founders are selling out, merging with foreign companies, or going out of business, Blair, Sarnicola and Mallen seem to be taking a stand to follow through on the promises they have made to the ViSalus employees, promoters, and customers over the years.
Blyth, Inc. Announces Filing of Registration Statement for Initial Public Offering of ViSalus
Blyth to Continue to Own More Than 50% of ViSalus
GREENWICH, Conn., Aug. 16, 2012 /PRNewswire/ — Blyth, Inc. (NYSE: BTH) today announced that ViSalus has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a potential initial public offering (“IPO”) of its Class A common stock. The registration statement has been filed by FVA Ventures, Inc., which will be renamed ViSalus, Inc. in connection with the IPO. ViSalus is a direct-to-consumer, personal health product company offering a suite of branded weight-management products, nutritional supplements and energy drinks to customers in the United States and Canada through a network marketing model, which is a form of direct selling.
Following the IPO, Blyth will continue to own over 50% of ViSalus’ common stock. The number of shares to be offered and the price range for the offering have not yet been determined. A portion of the shares to be offered in the IPO will be issued and sold by ViSalus, and a portion will be sold by certain stockholders of ViSalus.
Ryan Blair, CEO ViSalus Sciences was awarded in the Consumer Products category.
The Entrepreneur Of The Year Awards are held in more than 140 cities and in more than 50 countries worldwide. Annually, each of the overall country winners gather in Monte Carlo for the annual Ernst & Young World Entrepreneur Of The Year Award.
This group of leading entrepreneurs was selected by an independent judging panel made up of previous winners of the award, leading CEOs, private capital investors and other regional business leaders. The winners were revealed at a special gala at the MGM Grand, Detroit, USA.
“Ernst & Young has honored outstanding entrepreneurs like this year’s winners for the past 26 years,” said Jamie Simpson, Ernst & Young LLP Entrepreneur Of The Year Program Director for Michigan & Northwest Ohio. “These business leaders have accomplished so much and contributed a tremendous amount to the community.”