May 29, 2017 8:53 AM ET

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Company Overview of ViSalus, Inc.

Company Overview

ViSalus, Inc., a direct-to-consumer personal health product company, provides various branded weight-management products, nutritional supplements, and energy drinks in the United States and Canada. It offers weight management products, including Vi-Shape, a meal replacement shake to promote weight loss through health flavor mix-in system; Vi-Trim, an appetite-suppressant drink mix; nutritional cookies; and Vi-Slim Metab-Awake! tablets that are metabolism supporting tablets. The company also provides nutritional supplements comprising ViSalus Vi-Pak, a set of four individual supplement components, such as omega vitals supplements, and multi-vitamin and mineral supplements; Vimmunity immune sy...

340 East Big Beaver Road

Suite 400

Troy, MI 48083

United States

Founded in 2005

382 Employees

Phone:

877-847-2587

Key Executives for ViSalus, Inc.

Co-Founder and Chief Executive Officer
Co-Founder and President
Co-Founder and Chairman
Age: 39
Chief Financial Officer
Age: 57
Chief Strategy Officer and Director
Age: 43
Compensation as of Fiscal Year 2016.

ViSalus, Inc. Key Developments

ViSalus Announces Executive Changes

ViSalus announced that Ryan Blair announced he is stepping down as CEO to devote more time to his fast-growing venture capital firm HashTagOne and towards mentoring leading tech innovators. Blair will hand the reins to ViSalus Co-Founder Nick Sarnicola, who will take over as CEO effective January 1, 2017. Blair will continue serving as a member of Vi's Board of Directors and remain a significant stockholder and investor in ViSalus. He will also remain active in ViSalus by working closely with Sarnicola as a key advisor by providing his counsel and insight in order to ensure a smooth transition.

Sommers Schwartz, P.C. Seeks Class Action Status on Behalf of Plaintiffs Suing Visalus, Inc. for Alleged Rico Violations

Sommers Schwartz, P.C. has filed a lawsuit seeking class action status in the United States District Court for the Eastern District of Michigan (docket no. Case No. 2:14-cv-12693) on behalf of all persons or entities (the "Class") that entered into an agreement with ViSalus, Inc., and purchased the right to become an Individual Promoter (“IP”) under the ViSalus Compensation Plan, and suffered a financial loss, for the period of July 9, 2009 through the present (the "Class Period"). Among other claims, the Second Amended Complaint alleges that under federal securities law Sections 10b-5(b) and 12(2), ViSalus, Inc., made certain misrepresentations and omissions in connection with the sale of the IP “business opportunity” or interests to individual purchasers.

ViSalus Promotes Co-Founder Blake Mallen to President

ViSalus announced that its Co-Founder, Blake Mallen, has been promoted to President of the company, effective immediately. In his new role, Mallen will continue to oversee all sales and marketing functions globally, and expand his management responsibilities to include implementing initiatives to further develop the company's North American and European territories and drive business growth. During his tenure at ViSalus as Chief Sales & Marketing Officer, Mallen architected a disruptive challenge marketing strategy that propelled the company to over 600% sales growth in one year, including nearly $2 billion in cumulative revenue, becoming one of the most recognized and trusted weight-loss shake brands in North America. He has also been the driving force behind Vi's advancement in the digital landscape, with cutting-edge technology to power Vi's international network of independent Promoters. Additionally, his marketing teams have collected dozens of industry awards for social and digital strategy, video production, and even a handful of world records. Mallen brings more than 15 years of marketing experience, a unique knowledge of technology trends, as well as a 360-degree perspective to ViSalus, which he founded with Blair and Nick Sarnicola in 2005. Having spent equal parts of his career in the field as a Promoter, leading from the corporate side to create an entrepreneurial startup, and building that company's global infrastructure to support millions of Customers, his expertise spans the full spectrum from vision, to strategy, to execution. Mallen's values-based leadership style is focused on fostering culture and community to support the company's founding pillars of transforming Life, Health, and Prosperity around the world.

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