Nu Skin buys social commerce startup Mavely

Rhyz Inc, the investment arm of Nu Skin Enterprises, has acquired Mavely, a social commerce platform.

Rhyz Inc, the investment arm of Nu Skin Enterprises, has acquired Mavely, a social commerce platform. No financial terms were disclosed. Mavely’s backers include PivotNorth Capital, Starting Line and TMV.

PRESS RELEASE

Chicago & Provo, Utah – Nov. 8, 2021 – Mavely, a leading social commerce platform that drives new customer acquisition for direct-to-consumer (DTC) and retail brands, today announced it has been acquired by Rhyz, Inc., the strategic investment arm of Nu Skin Enterprises. The acquisition validates Mavely’s innovative approach of leveraging social shopping and proprietary technology to convert everyday consumers into a social salesforce for brands.

With this acquisition, Mavely will continue to grow its network by leveraging Nu Skin’s community of global influencers and will be able to offer a scalable alternative customer acquisition channel that is untapped by today’s DTC brands. Mavely will continue to operate as its own entity as part of the Rhyz, Inc family of companies but now with access to the resources and global infrastructure of a multi-billion dollar, publicly traded company.

“Nu Skin is well positioned to take advantage of the rapid growth in social commerce, and we look forward to partnering with the team to help drive their business and tap into their global reach as we continue to scale,” said Evan Wray, CEO and co-founder of Mavely. “By bridging the gap between brands and social commerce companies, Mavely is unearthing a massive new acquisition channel and reshaping the future of social selling in the process.”

Mavely’s technology platform will provide new cross-channel, social-selling features and capabilities to Nu Skin brand affiliates, empowering them to help consumers more effectively discover and purchase products. This will include a new Nu Skin branded social sharing app that will expand affiliate reach across social platforms as they share and sell products from the Nu Skin portfolio through a personally curated, socially enabled storefront that provides consumers with an improved shopping experience.

“We’re confident this technology will help simplify and supercharge social selling for millions of Nu Skin brand affiliates,” said Ryan Napierski, president and CEO of Nu Skin. “The Mavely team shares our vision of empowering people to be passionate advocates for brands they love. Mavely’s advanced social commerce platform will help accelerate our progress toward this vision, further support our areas of growth, and allow our brand affiliates to quickly and easily share our innovative beauty and wellness solutions.”

Mavely was founded in Chicago in 2018 by Evan Wray, Peggy O’Flaherty and Sean O’Brien. The company has raised $2 million in funding from PivotNorth Capital, Starting Line and TMV.

About Mavely
Mavely was created to help brands easily turn their customers and influencers into social sales teams. Founded in 2018, Mavely leverages communal commerce and proprietary technology to allow social sellers to easily post, share and transact. What started as a simple idea, share what you love, has grown into an industry leading technology company focused on empowering social sellers.