MonaVie’s Dallin Larsen named Ernst & Young Entrepreneur Of The Year® 2009 Winner in the Emerging category
Palm Springs, 15 November 2009– Dallin Larsen, founder, chairman and president of MonaVie, was named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Emerging category. Now in its 23rd year, the awards recognize leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses.
Larsen was recognized for founding MonaVie, a network marketing company that has doubled revenue every year and promotes a product that has become an international phenomenon. Larsen was honored at the Entrepreneur Of The Year® gala in Palm Springs – the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies. Awards were given in nine additional categories. All Ernst & Young Entrepreneur Of The Year® winners were selected by an independent panel of judges from approximately 400 regional award recipients.
MonaVie develops and markets quality nutritional products featuring the acai berry, found only in remote regions of the Brazilian rain forest. Founded in 2005, the Utah-based company has more than 400 employees and about 700,000 distributors in the US and abroad.
Focus on health
Dallin Larsen started his business career in grade school, first selling zucchini from his family’s garden door-to-door, then, working in the potato fields near his home in Idaho. He worked his way through college at Brigham Young University, operating 20 shaved ice shacks with his brother across Utah.
In the late 1980s a friend introduced Larsen to the concept of network marketing, a sales model that allows distributors to run their own business and promote a product directly to consumers. He became a distributor for Usansa, a company that sold nutritional products. While he did not make a lot of money, he loved the concept and learned how it worked.
After striking out on his own, he heard about the acai berry, an obscure fruit grown in the rain forests of Brazil. Impressed by what he learned about the antioxidants and polynutrients it contains, he made the berry the centerpiece of a new nutritional juice blend called MonaVie. Already deep in debt, Larsen had to secure additional funding to launch the product. But his bold gamble has paid off.
Making a difference in people’s lives
Larsen is proud of the product, not only because he believes it has made a difference in people’s health, but also for what its success has enabled him to do for the acai berry’s native region. MonaVie is committed to using sustainable acai harvesting methods that create economic improvements for the region, providing jobs as well as preserving the rain forest.
Larsen has established the MORE Project (MonaVie Operation Rescue) to help the people of Brazil. Fundraising efforts have provided 1,500 meals per week to underprivileged children, as well as educational opportunities and dental care for children and teens. MonaVie covers all administrative costs, ensuring 100% of donations to go directly to the care of the Brazilian people.
Entrepreneur Of The Year® 2009 national finalists in Emerging category
In addition to Larsen, the Ernst & Young Entrepreneur Of The Year® national finalists in the Emerging category are:
Vikram Mehta, president and CEO of BLADE Network Technologies in Santa Clara, California, a leading provider of data center networking solutions.
Dr. Christina Lampe-Onnerud, founder and CEO of Boston-Power, Inc., a Massachusetts-based firm creating a next-generation lithium-ion battery technology platform.
Barry Silbert, founder and CEO of SecondMarket, Inc. in New York, the largest secondary market for illiquid assets.
Overall Entrepreneur Of The Year® 2009 National Winner
Tom Adams, president and CEO of Rosetta Stone Inc. (NYSE: RST), was named the Overall Ernst & Young Entrepreneur Of The Year® 2009 national winner.
Video and Photos
To view video clips of all the Entrepreneur Of The Year® winners, please visit the Ernst & Young YouTube Channel at http://www.youtube.com/user/ErnstandYoungGlobal. Photos of the winners are also available by request.
Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year® awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors
About Ernst & Young’s Entrepreneur Of The Year®
Ernst & Young’s Entrepreneur Of The Year® is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year® celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
About Ernst & Young's Strategic Growth Markets Practice
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