Wow, great new Solavei fans! Your company has joined the list of the Red Herring 2014 best companies! Red Herring is a weekly publication that technology enthusiasts read to keep up with the trends and become more informed about technology based businesses around the world. This major honor is the second for CEO Ryan Wuerch as his Solavei dream becomes his second company to reach this plateau.
"It's an honor for Solavei to be recognized alongside the most innovative and forward-thinking companies in the world," said Solavei CEO Ryan Wuerch. "Together with our growing base of hundreds of thousands of members, Solavei is poised to change the way people buy everyday services by making the recommendation and reward process a natural part of existing relationships between friends and family. Winning a spot on the Red Herring 100 affirms our vision and energizes our members, employees and investors to continue their important work bringing the benefits and savings of social commerce to more markets."
While this may seem like great news for Solavei members, and with the PR spin, may lead to an increase in subscribership, short term, it is actually a warning shot to those that are dependent on Solavei as an income source. The reasoning I use behind this is that in 2005, or about 2 years into the actual Motricity adventure, that company became Wuerch’s first climb into the Red Herring best companies list. His quote from that adventure is strangely similar to the quote that he uses for Solavei above.
"To receive this honor from such an influential organization is a tremendous validation for the entire Motricity team," said Ryan Wuerch, Motricity's chairman and chief executive officer. "This recognition, combined with Motricity's continued growth and customer success, demonstrates that we are successfully executing our strategy to become the world's largest provider of mobile content and solutions."
Why isn’t this good new for Solavei and it’s users? Well, I would say it is because history speaks for itself. The leader of this company tends to run an idea up a flagpole, get tons of people to trust and believe in it, then pull the rug out from under them. Ask the employees in Durham that were left high and dry after helping Wuerch raise funding to purchase InfoSpace. That company has finally recovered from all the mismanagement and just emerged from reorganizing all their debt.
Now, that said, a Federal Court Judge did rule that Wuerch and his gang at the top of Motricity were not at fault for the collapse of that company and that the lawsuit brought against them was frivolous, but the facts are the facts. Wuerch was in control when that company made some horrible miscalculations. The same could be said of Solavei’s payment changes, plan changes and cost increases.
About Red Herring
Red Herring is the weekly magazine technology entrepreneurs, investors and industry observers read to stay ahead of the curve and to be better informed about the global marketplace. Red Herring covers technology, innovation, financial strategies, important personalities and trends that are transforming the world of business with unique insight, opinion and forward-looking analysis. Readers turn to Red Herring for knowledge to make strategic decisions, build companies and create a competitive advantage for their businesses. Red Herring articles, blogs, research and event information can be found online at www.redherring.com.
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