Solavei Completes Merger
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 for long-term sustainable growth."
In conjunction with the completion of the ASPIDER deal, Solavei's reorganization plan was overwhelmingly approved by creditors and formally confirmed by a federal judge in Seattle.
"Our reorganization has been a great success and we're grateful to all of our partners for their cooperation over the past year," Wuerch said. "Solavei is committed to working together with all of our partners to have a positive impact on the lives of millions of people around the world."
Wuerch said the company will continue to pursue expansion in niche demographic markets where the person-to-person social-commerce model is growing rapidly. Solavei has seen success and strong growth in Spanish-speaking Puerto Rico and sees expansion opportunities throughout Latin America and the United States.
ASPIDER will leverage Solavei's social commerce platform within its own range of mobile solutions, throughout Asia, Europe, the Americas and Africa. Solavei's social commerce platform will create a fully managed mobile-service ecosystem for ASPIDER that includes network wholesale, retail infrastructure and social engagement.
Solavei's members and employees will benefit from the scale of ASPIDER operations as well as their global mobile virtual-enabling platform that provides advanced capabilities, including "in-network" international calling, global roaming, mobile payments, additional products and services and global expansion.
"We are thrilled to expand our services to include Solavei's unique social and referral platforms," said Patrick Meijer. "What's so different about Solavei is it has created an entirely new form of distribution for the market of mobile service, capitalizing on the fast-growing trends of social media, mobile and referral marketing."
Wuerch thanked Solavei employees and members for their commitment throughout the restructuring process.
"Solavei has had a positive impact on hundreds of thousands of our members' lives by helping them save over $120 million and earn over $32 million, which would not be possible without the ambassadors of our brand, employees and members alike. This new partnership allows us to capitalize on Solavei's momentum and take great strides toward achieving our mission of positively impacting millions of people worldwide. I am excited about our future," Wuerch said.
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