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Vemma Nutrition Company history
Vemma Nutrition Company company history timeline
Die Vemma Nutrition Company (kurz Vemma) ist ein US-amerikanisches Multi-Level-Marketing-Unternehmen, das 2004 gegründet wurde.
Vemma Europe est une société anonyme fondée en 2006 et ayant son siège social dans le comté de Kildare, en Irlande.
Pershing Square's Bill Ackman has brought MLMs to the forefront of the business press by taking a $1 billion short position against Herbalife in December 2012 and calling it a pyramid scheme, an allegation the company has repeatedly denied.
In 2013, the company reported US$221 million in revenue.
In 2013, Vemma started describing itself as an affiliate marketing company, although Benson K. Boreyko has said that the compensation plan is the same.
In April 2014, the company announced that it was modifying its compensation plan by removing sign-up fees and the $150 minimum monthly product purchase to qualify for commission, among other things.
As of 2014, Vemma earned over $200 million in global sales, the FTC said.
The FTC’s original complaint, filed in August 2015, claimed Vemma was structured as a pyramid scheme designed primarily to enroll new affiliates rather than selling health drinks to people outside the company.
Vemma appealed, and a ruling from United States District Judge John Tuchi forced Vemma to stop its multilevel marketing operations in September 2015.
The company was shut down in 2015 by the FTC for engaging in deceptive practices and pyramid scheming.
In December 2016, Vemma reached a $238 million settlement with the FTC, which also banned the company, its CEO, and top distributors from recruitment-focused business ventures, deceptive income claims, and unsubstantiated health claims.
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Vemma Nutrition Company competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Mannatech | 1993 | $176.7M | 248 | - |
| ImpactRx | 2000 | $35.4M | 500 | 1 |
| Total Life Changes | 1999 | $230.0M | 7,500 | 57 |
| LifeVantage | 2003 | $200.2M | 227 | 8 |
| Kyäni | 2005 | $50.2M | 3,415 | - |
| The Juice Plus+ Company | - | - | - | - |
| YOR Health | 2008 | $5.0M | 93 | - |
| Melaleuca:The Wellness | 1985 | $800.0M | 1,200 | 101 |
| mPower.com | 1995 | $950,000 | 1 | 95 |
| FirstFitness Nutrition | 1989 | $1.6M | 15 | 4 |
Vemma Nutrition Company history FAQs
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Vemma Nutrition Company may also be known as or be related to Vemma and Vemma Nutrition Company.