The trial of a $16 million gender bias lawsuit against one of Silicon Valley’s most prestigious venture capital firms had the potential for a dramatic showdown last week when plaintiff Ellen Pao took the witness stand.
Hot Business News Today
Solavei To Exit Bankruptcy, Merge with Aspider
by Ted Nuyten • • 0 Comments
Six months after Solavei announced it was going to launch into a new phase of its development, the company said it filed a bankruptcy reorganization plan to merge with ASPIDER, a Netherlands-based Infrastructure as a Service provider that works with mobile operators.
Terms of the deal remain confidential.
Social commerce network and mobile service provider Solavei filed its plan of reorganization today and announced it will merge with industry leader ASPIDER, a Netherlands-based company that has provided core mobile infrastructure and services to over 100 mobile service providers and millions of subscribers throughout the world. Terms of the deal remain confidential.
With over 400,000 people that have become members in the past two years, Solavei will continue to deliver and grow its social commerce network to fulfill its vision of positively impacting millions of
Hot Business News Today
Live-streaming apps dominate buzz at South by Southwest
by Successful IBO • • 0 Comments
A live-streaming app called Meerkat, calls to online activism and pedicabs with a “Game of Thrones” Iron throne seat were the top topics of conversation at South by Southwest over the weekend, as 33,000-plus members of the technology, marketing and media industries poured into Austin, Texas.
Hot Business News Today
This Week: FBI Probes Herbalife Stock Manipulation, Disney Star Teams with Mary Kay
by mallen@directsellingnews.com • • 0 Comments
Hot Business News Today
“75% Of Irelands Direct Sellers Are Female.”
by Tina Williams • • 0 Comments
BusinessAndLeadership.com reports: Figures released from the Direct Selling Association of Ireland (DSAI) have revealed that 75pc of the industry’s 20,000 direct sellers are now female, while 30pc are stay-at-home mums.
Contributing €50m a year to the Irish economy, direct selling is where goods are sold direct to consumers outside of a fixed shop.
Lynda Mills, director general of the DSAI, said: “There is a new type of female entrepreneur emerging in Ireland – women who are selling products they love and building really strong businesses through direct selling.
“We are seeing more and more women being attracted to direct selling because it can fit so easily around other commitments – whether it’s children, education or another job.”
The figures released by the DSAI are based on its survey of its member companies including Amway, Forever Living and
Hot Business News Today
Medifast Drops To Loss In 4th QRTR As Revenue Plunges
by Tina Williams • • 0 Comments
Weight-loss company Medifast Inc. lost more than $3 million over its fourth quarter as revenue plunged more than 11 percent in earnings released Thursday afternoon.
Owings Mills-based Medifast (NYSE: MED) lost $3.4 million, or 28 cents per share, in its fourth quarter ending Dec. 31 — a year after posting a profit of $5.3 million, or 39 cents per share, in the same quarter.
The company shed more than $8 million in revenue year-over-year, posting $62.3 million in the 2014 fourth quarter. Revenue missed Wall Street estimates averaging $69.4 million in analyst polling from Thomson Financial Network and company stock was down more than 8 percent in after-hours trading.
That revenue drop came as Medifast’s two largest moneymaking divisions lost sales. Revenue plunged 12 percent to $45.7 million at the company’s direct sales channel, Take Shape for
Hot Business News Today
Tables Turn: The FBI Is Investigating Bill Ackman And His Campaign Against Herbalife
by Tina Williams • • 0 Comments
The FBI and federal prosecutors are interviewing people related to hedge-fund manager Bill Ackman for potential Herbalife stock manipulation, reports The Wall Street Journal.
They’ve asked for documents related to the stock. Neither Ackman nor his hedge fund, Pershing Square, have been served with a subpoena.
Ackman has been publicly shorting Herbalife since December 2012. He has said that the multilevel-marketing nutrition firm is a pyramid scheme and that his hedge fund, Pershing Square, is shorting its stock to zero.
Here’s The Journal on exactly what investigators are trying to figure out in this case:
Prosecutors in the Manhattan U.S. attorney’s office and New York field office of the FBI have conducted interviews and sent document requests in recent months in connection with the investigation, which is looking into whether people, including some hired by Mr. Ackman,
Hot Business News Today
Jeunesse Closes Out February With Record $65 Million In Sales
by Tina Williams • • 0 Comments
Jeunesse welcomes over 81,000 new Distributors in February. The company continues to surpass previous records, remaining steady on a path of unprecedented sales growth.
The company has just announced an astounding $65 million in sales revenue during the month of February, boosting combined sales figures for January and February up 148% over those months in the previous year.
This new peak in sales revenue occurred just two months after the company’s previous record month in December, 2014, when Jeunesse achieved $61 million in sales and added more than 68,000 new distributors.
The latest announcement also revealed that Jeunesse added a total of 81,252 new distributors in February alone, with over 8,000 new distributors joining on the final day of the month.
Significant growth in the US and Canada markets was particularly noteworthy. Sales
Hot Business News Today
APNewsBreak: No citation over Maine elephant keeper's death
by Successful IBO • • 0 Comments
The owners of a Maine elephant sanctuary where a caretaker died after apparently being stepped on will not be cited by federal workplace safety regulators.
Hot Business News Today
How a Love of Nature Became a Thriving Franchise
by Successful IBO • • 0 Comments
From hobby to major franchise — how one man built a backyard bird feeding company from the ground up.