From the start, WorldVentures founders Wayne Nugent and Mike Azcue set out to build a different kind of business. They dreamed of a vacation and entertainment club that would give members access to high-quality, yet affordable, travel experiences while also giving participants an opportunity to grow their own business by marketing the membership.
In the nearly 10 years since its founding, WorldVentures also has carved a unique position for itself in the direct selling space. Only 18 companies worldwide from the Direct Selling News Global 100 list increased revenue by more than $100 million last year, and WorldVentures was among them. Most of the other high-growth companies offer consumable products in the health, wellness or cosmetics industries. WorldVentures is one of just two that sells memberships, and it is the only one to focus exclusively on travel.
CEO Dan Stammen says the company is on track to join an even more elite group by the end of 2017: those posting annual revenue of $1 billion or more. WorldVentures increased its revenue by 80 percent last year, closing 2014 with revenue of $352 million, up from $195 million in 2013. It is on track to nearly double again to $650 million in 2015. In the past 12 months alone, new member sales have increased from 50,000 to more than 80,000 new enrollments per month.
What’s driving this growth? Company executives credit an innovative product offering coupled with key leadership strategies.
Established in 2005 by Wayne Nugent and Mike Azcue, WorldVentures’ primary offering is an annual membership that allows members to receive significant discounts on pre-arranged travel packages as well as the opportunity to earn points that can be applied to a variety of additional purchases, such as spa services at the destinations they visit. Stammen served as the company’s chief executive for its first three years, but then transitioned into the CMO position before stepping back from an active role so that he could primarily focus on his other business ventures. Azcue then stepped into the role to replace Stammen, and he led the company through an important period of growth over the next few years.