In September of 2012, after months of preparation and hard work, the Solavei team and I launched Solavei to our members. What was once just an idea, a dream, an aspiration — was suddenly a reality.
At Solavei, our goal was to make commerce less expensive and even profitable by giving our members a great opportunity to save on the products and services they use every day, and also be rewarded when they refer Solavei to the people they know. Solavei was able to do this because instead of spending millions of dollars on billboards and TV commercials, we choose to spend that money on the most powerful advertising force on the planet – people! We saw the power of the personal recommendation and developed a system to reward our members when they shared it with their friends and family.
While Solavei was shut down in late 2015 after it lost its mobile service contract with T-Mobile, I am proud to have watched it grow rapidly in over the years. In just three years, over 400,000 people signed up for mobile service from Solavei and the company did over $140 million in revenue, but more importantly through Solavei we were able to pay members over $40 million dollars for being the advertising voice of the company.
During that time, Solavei was named a top 100 technology company in North America by Red Herring magazine. Now, even though the company itself does not exist, much of the innovative technology is actively being used to by other companies to positively impact people’s lives.