Monthly Archives: August 2015

Solavei Completes ASPIDER Deal

 
Solavei, the industry-leading social commerce network that provides mobile service to its members, announced today that it has completed its merger with ASPIDER, a Netherlands-based company that provides core mobile infrastructure and services to more than 70 mobile service providers and over 100 million subscribers across the globe.
Solavei will remain a stand-alone entity based in Seattle. Solavei founder Ryan Wuerch will remain CEO of the company and Patrick Meijer of ASPIDER will become President.
“This is a great day for Solavei,” Wuerch said. “The partnership with ASPIDER gives us the opportunity to further enhance our services and add new products to the social commerce network, broadening our ability to rapidly expand the Solavei brand globally.  We now can leverage ASPIDER resources to better align our cost structure with our revenue expectations, positioning us

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CAbi To Enter Canada

 
CAbi, one of the largest direct sale women’s apparel businesses in the U.S., is entering the Canadian market this week.
The Canadian market will include all provinces, except for Quebec, and represents the first foray outside of the U.S. for the 14-year-old company. CAbi — Carol Anderson by invitation — was cofounded by Kimberly Inskeep, who is president and chief culture officer, designer Carol Anderson and 10 other individuals.
CAbi was acquired three years ago by two private equity firms, J. H. Whitney & Co. and Irving Place Capital.
Rick Perkal, a senior adviser at Irving Place, said the model was an attractive one because it was about “women helping other women feel better about themselves.” He said if the Canadian expansion goes well, the company would consider bringing the brand to other English-speaking countries.

Michael C. Salvator, senior managing

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India Puts MLM Legislation On Hold

 
A proposed Bill to check fraudulent multi-level marketing (MLM) schemes has been put on hold by the Indian government.
The Finance Ministry had started the process to amend Prize Chits and Money Circulation Schemes (Banning) Act, 1978, to check the menace of ponzi schemes which continue to defraud investors of their hard-earned money.
The ministry informed a recent meeting of representatives of Central revenue intelligence and law enforcement agencies that the amendment Bill “has been put on hold for the time being”, official sources said.
It was also informed that an inter-ministerial group (IMG) formed under Additional Secretary, Department of Economic Affairs, is looking into all aspects including the amendment of the Act, they said.
The Finance Ministry had earlier obtained comments from the industry on the amendments to the Act for a framework for regulation

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