Solavei Files for Chapter 11 – Bankruptcy
In the summer of 2012 Ray Wuerch launced Solavei in the USA, and stated:
“We are going to make a difference in people’s lives by shifting billions of dollars from traditional mass-media advertising into the greatest advertising vehicle today – people. Solavei is the first company to create an economic linkage between mobile service, social commerce and social-networking technology.
We give people the opportunity to earn income by using and promoting the services they are already consuming each and every day.”
In October 2013 Solavei announced: that it has attracted 250,000 members since its launch last September.
It is also on a annualized revenue run rate of $67 million, based on revenue figures from Sept. 2013
In May 2014 Solavei was named winner of the 2014 Red Herring Top 100 Award.
On June 11 Solavei has filed for bankruptcy.