Rhyz Inc., a subsidiary of Nu Skin Enterprises Inc., announced the sale of Mavely. As part of the strategic transaction, Rhyz sold the affiliate marketing technology platform to Later for approximately $250 million in the form of cash and a minority equity stake in the combined Later/Mavely business.
The transaction includes an approximately $33 million payout to “other” equity holders in the Mavely business, as well as the expectation that Mavely will continue to provide certain technology and social commerce capabilities to support Nu Skin’s affiliate marketing business.
Nu Skin stated that the transaction provided a five-times return on the company’s cumulative investment since it acquired Mavely in 2021, and will be used to pay down debt and fund innovation.
“Together, we believe Later and Mavely will provide enhanced capabilities to our company as we pursue our broader beauty, wellness and lifestyle ecosystem vision, while the transaction generates additional capital and resources for us to increase innovation in our core Nu Skin business and investment in our Rhyz companies,” said Ryan Napierski, Nu Skin President and CEO. “This underscores the value of Rhyz to incubate and scale meaningful businesses with synergistic value across the enterprise.”
