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It was founded by Blake M. Roney in 1984 and officially listed in the NYSE in 1996. The company was initially founded when Blake Roney and a small group of friends, including his sister Nedra, amassed $5,000 and ordered their first batch of products. There were initially only a dozen or so products, contract manufactured and delivered in gallon containers, which were then spooned into the first customers' own pots and jars at the founders' homes. The company initially grew slowly, from 1984 to 1989, reaching a turnover of around $40 million in the USA. At this 'critical mass' point, things began to take-off, and by 1996 the corporation had global revenues of around $1 billion. The decision was made to take the company public. Initially only the Nu Skin Asia Pacific company was floated, however, shortly afterwards all the remaining affiliates were sold to the new entity and the company was a fully-fledged public company. The company' has had challenges growing beyond the $1 billion mark, but has recently seen massive growth in its Pharmanex nutritional division, acquired in 1998 along with Big Planet Inc., due to the purchase of the global exclusive rights to a technology called the BioPhotonic Scanner, which measures skin carotenoid levels, thereby proving the efficacy of Pharmanex's supplement products. |
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