Lyoness
Sign in to saveAlso known as Lyconet, myWorld, Cashback World
Lyoness International AG was a multi-level marketing company established in Austria in 2003. According to Lyoness, the company was active in more than 40 countries, spread over six continents, and their shopping community consisted of more than five million members as of 2016. In several countries Lyoness is suspected as being, or ruled as being, a pyramid scheme.
Key facts
- Company.name
- Lyoness International AG
- Company.type
- Private
- Company.foundation
- 2003
- Company.founders
- Iwan J. Ackermann, Max Meienberg, Uwe Proch
- Company.location
- Graz, Austria
- Company.industry
- Multi-level marketing
- Company.key_people
- Radovan Vitosevic (CEO), Marko Sedovnik (President of the Board), Dipl.-Ing. Herbert Paierl (CSB)
- Company.owner
- Hubert Freidl, Marko Sedovnik and Sharif Omar
- Company.num_employees
- 600+
via Wikipedia infobox
Wikidata facts
- Instance of
- pyramid scheme
- Country
- Switzerland
- Headquarters
- St. Gallen
- Industry
- loyalty program
- Legal form
- Aktiengesellschaft
- Official website
- www.lyoness-corporate.com
- Significant event
- complaint
Show 4 more facts
- inception
- 2003-01-01
- Commons category
- Companies
- topic's main category
- Ponzi scheme
- review score
- 2.4 / 5 "Poor"
via Wikidata · CC0
~17 min read
Encyclopedic overview
10 sectionsContents
- Business model
- Previous corporate structure
- Continental and country organisation
- Social involvement
- Legality and alleged deceptive practices
- Television
- Income
- Internet
- References
- External links
Lyoness International AG was a multi-level marketing company established in Austria in 2003. According to Lyoness, the company was active in more than 40 countries, spread over six continents, and their shopping community consisted of more than five million members as of 2016. In several countries Lyoness is suspected as being, or ruled as being, a pyramid scheme.
In 2023, Lyoness International AG and Lyoness Europe AG, which served as umbrella companies for the Lyoness business model, filed for insolvency. The company was succeeded by MyWorld International AG. The Lyoness name continues to be used in legal, financial, and structural contexts in several markets.
Excerpted from Wikipedia’s “Lyoness” article, available under the CC BY-SA 4.0 licence.