This bankruptcy proceeding in which it is currently engaged Solavei has delayed the process of expansion in the Hispanic market and announced last year
In an interview with FierceWireless, (expert digital magazine on the trends shaping wireless communications), Wuerch said 80 percent of new members each month gets Solavei are Hispanic or Latino, compared to a rate of 70 percent in August 2014. The 68 per cent of the company's customers are Hispanic, he added, and said Solavei is the mobile phone company with the fastest growth in Puerto Rico. "Being able to continue the expansion of our members in other Latin American countries is natural," he said. "Obviously, with everything that is going on with the company, we have been focused on the demographic market in the US and Puerto Rico, while we were in the process of agreements with ASPIDER. Agreement will allow us to expand our global growth and particularly in the Latin American market, "said Wuerch. Wuerch calls the Latin American expansion "high priority" for the company. He declined to say growth projects that the company has planned for this year, but said the expansion will include multiple markets, including Mexico will. In September, Wuerch had also indicated that integrate Solavei payments and rewards in social commerce system to allow users to easily insert their existing credit cards on the market and receive discounts and rebates. However, that effort was also delayed due to the bankruptcy process. "We had to be very focused on specific areas, such as: deployment, new product development, etc." Wuerch said, adding that the company is close to releasing updates "I have what I think is a. truly transformational, social commerce capabilities that are located in one integrated into the current system of my phone application. market, "said the changes will come sometime in the first half of this year.
Solavei started launched in 2013 a plan with a cost of $ 49 per month, offering unlimited calls to voice, text and Trifa Internet T-Mobile (now the company has a broad range of plans). The company has designed its service as a referral program, rewarding customers with monthly discounts if they can enroll new customers to the service. However, the company filed for bankruptcy in May 2014. Wuerch declined to say how many are currently active clients, referring to the obligations contractual. As of May 31, 2014 had 101,500 customers. In terms of the bankruptcy process, Wuerch said, "Solavei expected to be complete restructuring by the end of April." According to documents discovered by GeeWire in the restructuring plan the company's compliance with various things required :. ASPIDER acquire substantially all the assets of Solavei and form a new company, which in turn will give Solavei cash to pay its creditors. The new company will pay $ 4.75 million in the form of a promissory note of Opus Bank and T-Mobile. The company formed will provide 40 percent of the shares in it, estimatoriamente valued at $ 1,770,000. The resulting company will assume and pay the debt claims Solavei ranging from $ 1 million to $ 1.4 million.
In addition, the new company will assume and pay a claim to T-Mobile for about $ 1.5 million. T-Mobile has agreed to waive an unpaid "Administrative Expense Claim" in the amount of $ 1.4 million accrued prior to December 31, 2014. According to the filing, the company MLM, got into financial trouble because they ended up paying for the fees to members earned more money for their gross profits, since this had not anticipated that many members find ways to maximize their commissions. The company was actually paying around 83 percent or more of their gross profits to members compared to the 50 percent level had anticipated.
Wuerch said Solavei October 2014 implemented a new compensation system. "We do not have to worry about the rapid growth the company is having and we can deal with payments," he said. The new system is a "limited" system, according Solavei said allows "put our focus on growth knowing it is a healthy development." Wuerch said Solavei can add thousands of new members daily "and should not worry about receiving the payment corespondiente." Basically, there are now a range of specific payment within the clearing system.
Individuals who refer friends and family members will be compensated based on their activity, such as if you are recruiting staff, helping to grow a network or own some parts of the network. "All activities that occur have a specific economic benefit," Wuerch said. "But because everything is based on a percentage of the activity, not going to overcome." Solavei have "a healthy and clean balance" when you exit bankruptcy protection. Over the next six months Solavei APSIDER integrate technology as vocation "in-network" international, global roaming, mobile payments and other services. In turn, ASPIDER, which works with over 100 mobile operators worldwide, plans to leverage the social trading platform Solavei and let other companies use to build their own sub-brand of social commerce. About SOLAVEI, it is a social trading network that offers free mobile services contract in the United States. Multilevel Marketing company is known for its use of incentive plans reference and advertising program social network. In addition to its mobile services, operates a network of social commerce to its users. Ryan Wuerch founded the company in 2012. In 2013, Solavei had 140 employees and was valued by investors at $ 120 million. On June 18, 2014, the company filed for Chapter 11 bankruptcy.
Post a Comment