Nutrition and weight management company Herbalife International has acquired iChange, a nutrition and health network and former Vator Splash finalist. Terms of the deal were not disclosed.
“We are thrilled with the transaction and look forward to rolling out iChange to millions around the world this year,” said iChange CEO Stu MacFarlane.
iChange, which admits to being built on the same principles as AA and Weight Watchers, offers a network of resources and community of users, all toward the end of losing weight and living healthier.
For free, the basic program gives users access to a calorie/exercise tracker, nutritionist articles, recipes, the site’s community (group support) and more. Upgraded users pay $1.65 per week to also receive personalized weekly counseling from a licensed nutritionist. The personalization is nice because, for example, a bride-to-be aiming to fit in a wedding dress has different needs than somebody who eats when they’re emotional iChange claims that those who sign up with a nutritionist lose nearly four times as much weight as users on the basic plan.
As a result of the new acquisition, iChange can better serve Herbalife’s 2.1 million independent distributors, who have much to gain from reaching out to the iChange community. Those distributors will be able to become “wellness coaches” on the site, meaning they’ll provide users with free coaching and nutritional tracking tools.
All of iChange’s six employees, including MacFarlane, have moved from their former offices in El Segundo, Calif. to Herbalife’s Los Angeles headquarters, but the site will remain intact at www.ichange.com.
iChange was founded by Southern California entrepreneurs Brad King, Rich Rygg and Jay Wagener in 2008. In January of last year, the company appointed MacFarlane of Momentum Venture Management (MVM) its new CEO and raised a $1 million round from MVM along with several angel investors. Then, a few months later, the startup competed as a finalist at Vator Splash May 2010.
To learn more about iChange, be sure to read our interview with MacFarlane.
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iChange's core philosophy is that major life changes are more easily achieved with support from others. iChange has built a system through which individuals can receive professional counseling and support from other individuals when making change. The company's first offering is nutrition and weight loss, where members can work with dietitians and nutrition support groups who provide guidance, support and accountability.
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When entrepreneurs start thinking about launching a business, the first thing that usually comes to mind is raising capital. Unfortunately, however, investors don't write checks to support good ideas - they back companies that have clear business plans, credible management, and business traction. We provide highly experienced interim senior executive leadership to help emerging companies break out of the "entrepreneur's dilemma" and position them for success in business and fundraising. Our seasoned executives take interim C-level or board roles to assist entrepreneurs with critical business-building functions including:
