MonaVie grew quickly as a company since its start in 2005. Annual revenue escalated to $854 million internationally by 2008 and had recruited well over a million independent distributors worldwide. In 2009, company founder Dallin Larsen received the Ernest & Young Entrepreneur of the Year Award. The company's headquarters are located in South Jordan, Utah.
MonaVie is now defunct and has been purchased by Jeunesse Global.
Jeunesse Global is in the same health and wellness industry as MonaVie.
The privately-owned company sells mainly skin care products and nutritional supplements. They differentiate themselves in the marketplace by claiming their skin care products go deeper into the skin than their competitors' skin care products. Supposedly, changing the health of skin positively at its DNA level.
The company also claims to use stem cell research in the creation of their product lines. Jeunesse independent distributors receive 20 to 45 percent retail profit per sale. Independent distributors purchase products at wholesale, resell at retail price, and keep the difference as profit.
Preferred customers receive a 10 percent discount, and 20 percent discount if they are on the autoship program. However, these discounts subtract from the total amount of profit independent distributors earn.
Independent distributors can start their businesses by paying a $49 signup fee if they are based in the USA or $29 if located in other countries.
This gives individuals their own personalized website, access to a back office management system, and a wealth of digital and printed marketing materials. New signees also receive their choice between a wristband or keychain that stores the digital marketing materials.
Individuals are also given the option to sign up for the company's social media marketing system free for the first month. After that, the cost of the system is $19 per month. This system allows independent distributors to access lead pages, manage contacts, measure campaign statistics, and more.
Starter packages range in the amount of benefits you initially receive in starting your own business. Packages cost anywhere from $199-$1,799. Larger packages contain more products, higher savings percentages on purchases, and let you prequalify for larger leadership bonuses and a higher rank. All packages come with a 30 day money-back guarantee.
Jeunesse Global, LLC. made news in 2015 with the possibility of a foreclosure after allegedly defaulting on a $182 million note.
A bank in South Dakota has sought a halt to the foreclosure proceedings in order to gain more time to investigate what happened more thoroughly. MonaVie was close to achieving $1 billion in annual sales, only to take a nose dive that may wipe out all shareholder value.
Court documents say MonaVie sold the $182 million note in November 2010 to TSG-MV Financing, LLC., which is owned by TSG Consumer Partners of San Francisco. TSG-MV provided capital to MonaVie in the past. The note is secured by virtually all of the MonaVie company assets, according to court document statements.
Because MonaVie was struggling financially. the company officially announced in July 2014 the retirement of the company's founders Randy Larsen, Henry Marsh, and Dallin Larsen. Jeunesse Global purchased the note from TSG-MV and defined the move in a news release as an acquisition of MonaVie but publicly did not disclose the note's purchase. MonaVie's Chairman and CEO Mauricio Bellora notified shareholders that the note was defaulted and the board would agree to a "strict foreclosure."
This means that MonaVie would transfer voluntarily the majority of all its assets. However, the Bankers Trust of South Dakota requested a temporary restraining order on proceedings with the foreclosure process from U.S. District Judge Bruce Jenkins. They state that the procedures for a strict foreclosure had not been properly followed.
A class action lawsuit accuses Bankers Trust of failing to fulfill its duties by allowing MonaVie to sell shares at highly inflated values with extravagant interest rates. Bankers Trust filed a lawsuit in return against MonaVie, accusing the company of failure to pay the bank's legal bills as set forth in agreements between the two groups.
In regards to Jeunesse Global Inc.'s acquisition of MonaVie, Jeunesse is making changes to the compensation plan as part of the transitioning. There is no current information on all of the changes quite yet as the company is still trying to work out all the details.
The company stated that the Black Diamond Mercedes Benz Car Program in the U.S. and Canada 4x4 Bonus Program will all be discontinued. Payments will still be made out to individuals who were eligible before the transition began and remain eligible now.