Youngevity International Inc (NASDAQ: YGYI) released overwhelmingly positive news today. The company announced that it has been accepted as a member of the Direct Selling Association, also known as the DSA. Here's what happened:
YGYI Accepted As A DSA Member
As mentioned above, Youngeviity International released some exciting news today. The company announced that it has been accepted as a DSA member. This means that the company is now part of a national trade association for companies that offer entrepreneurial opportunities to independent sellers.
The DSA was founded in 1910 and has a member base of hundreds of companies, many of which have become household names over the years. Expected to strictly adhere to the DSA Code of Ethics, DSA members are largely regarded as the most ethical businesses in direct selling.
As with all companies that have been accepted into the DSA, YGYI was considered an applicant for a full year before being approved to become a member. This period starts when all required materials are received and the applicant company is considered to be in compliance with the DSA Code of Ethics.
From there, the DSA conducts a full review of each company's materials before requesting further information from various sources. At the end of the 1-year waiting period, the DSA legal department reviews all materials and reevaluates compliance before presenting the applicant to the Organization's Board of Directors for consideration as a member. Making it through this process and becoming a DSA member is a major milestone for YGYI and all of its investors.
This is overwhelmingly positive news as membership includes great perks. These perks include research services for actionable industry data, professional development through conferences, seminars, and webinars, along with networking councils that connect member companies. In a statement, Nancy M. Burk, DSA Vice President of Membership, had the following to say about YGYI:
“We're delighted to have Youngevity on board as an active DSA member... Only companies that meet our high standards are accepted, and we are committed to making our various offerings even more productive and relevant for this dynamic company moving forward.”
In a follow up statement, Steve Wallach, CEO at YGYI, had the following to offer:
“It's certainly an honor to be accepted into the DSA... We have every intention of taking full advantage of its many programs and activities, all of which we expect will help establish instant credibility around the world.”
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on YGYI. In particular, we'll be following the news surrounding the DSA and are excited to see the company take advantage of membership perks. We'll also be watching the growth of CLR Roasters as well as the rest of the company's dynamic product offering! Nonetheless, we'll continue to follow the story closely and bring the news to you as it breaks!