solaveiSolavei, which rewards customers for signing up friends, family and co-workers for its wireless service, has scored $2 million in fresh funding from boutique investment banking firm Clark Dodge & Company, GeekWire has learned. The cash is part of a larger financing round that is expected to close in the coming months, and it brings total funding in Solavei to $25 million.

At the end of 2012, Solavei boasted more than 100,000 members. And the business continues to grow fast, with a total of $180,000 members. Just this week, Fierce Wireless reported that Solavei was looking to top $100 million in revenue in its first full year of operation.

The wireless service provider, which piggybacks on T-Mobile’s network, also is working on a new “marketplace” program which would reward its members with discounts of two to 15 percent at participating retailers. The program is expected to start in September in partnership with First Data.

“Solavei Marketplace will provide our members, in addition to having mobile service, the opportunity to save and earn income from many of the same goods and services brands that they are already using,” said a company spokesman. “This next phase continues to fulfill our mission of being a social commerce company.”

Fierce Wireless reports that Ace Hardware, Walmart, JCPenny, Burger King, Outback Steakhouse and Kmart will participate in the new marketplace program.

wuerch
Ryan Wuerch

Solavei has drawn comparisons to multi-level marketing giants such as Amway, and its service has drawn plenty of criticism among readers who’ve debated the merits of the business.

Solavei charges $49 per month for wireless service. However, members can earn $20 per month for every three customers they sign up, dubbed a “trio.”

Led by former Ryan Wuerch, Solavei’s backers include Jonathan Miller, the chief digital officer at News Corp. and former CEO of AOL; David Limp, vice president of Kindle at Amazon.com; and Gary Adams, an oil & gas executive from Oklahoma.

Previously on GeekWireCee Lo Green and Stephen Baldwin stump for controversial wireless startup Solavei

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Comments

  • Deborah De Boer

    I love my Solavei service and the fact that there is no pressure to share at all if you don’t want to, or you can get really into it and make a living. It really fits everyone. Best of all $49 a month unlimited talk, text data! Check it out here: save.sharesolavei.com

  • rayburt456

    How is this different than the $45 Walmart deal?

    • Laura Tarrant

      Morning Ray,

      With the Walmart plan, its is as we are all use to it now…a great plan that gives you affordable service without having to be locked down in a contract.

      Solavei offers us an Amazing opportunity to share it with others, just like you would any great deal you might come across, and earn money every month when we do. Most referral programs give you a one shot reward. Solavei, keeps giving you that reward, every month and opening the world up to us as to just how much that reward can be.

      Feel free to contact me if you would like to know more. laura.grandrevolution@gmail.com
      you can see what its all about here: solavei.com/lauratarrant

      Have a great Sunday Ray :-) Hope this helps!

    • Thunder2013

      Not only do you get a chance to earn referral dollars if you choose, but solavei gives you free tools to help you such as a page like the following – at no charge – http://YourPhonePaysYou.com

  • Ken Singleton

    fantastic service get it for free http://kensingleton.sharesolavei.com

  • Bob Gatchel

    This also spells good things for the members of Solavei that have the chance to get EQUITY in the company as they grow their network. Yes, the value proposition of the Unlimited Voice, Text and 4G Data at $49 a month is GREAT – but I have to tell you that the Solavei Marketplace is going to create even MORE savings for the membership AND higher amounts of income from the customer reward program. That’s why we have aligned with them due to this “one / two” punch of Social Commerce putting more money back into the hands of the members!

    Bob Gatchel
    Solavei Founding Member
    http://trionetwork.sharesolavei.com

  • Mack Shead Jr

    Solavei is a company with a great vision and outstanding leadership. We are so much more that a mobile service company. It’s great to have the option of totally eliminating your phone bill and impacting the lives of those that can embrace where this awesome company is going and being apart of history in the making. You owe it to yourself to learn more: http://freepluscash.com

  • Lol

    LOL @ all the comments

    • Telecommunications

      Shameless self promotion…gotta love it!!!

  • boostANDadrenaline

    Right now Solavei is known for just Cellular Service, just like Amazon was known for selling books on the internet…Solavei will be expanding with the addition of Marketplace which brings an added value to its customers…and another income stream for people who share…… WillYou.ShareSolavei.com ? I am looking forward to helping others get started!

  • Beto

    Anyone interested in joining a great Solavei team with a great marketing strategy, email me. I offer FREE advertising of your Solavei landing pages for a limited time when you enroll using my link. beto.urquidez @ gmail. com

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