BabyMint rebrands for loyalty and clarity
The successful microinvesting technology firm, BabyMint Inc., has officially changed its name to 'Vesdia Corporation'. The name change covers the company's BabyMint college savings programme, along with the recently acquired 'NestEggz' loyalty programme.
The new corporate name is a play on two words: 'invest' and 'dia' (the Latin word for 'day').
Launched in March 2001 as a programme to help parents and families become more disciplined investors by facilitating merchant rebates into their college savings accounts, BabyMint grew quickly, in line with the rise in popularity of tax-free 529 savings plans. Vesdia's new tag-line will be "Reinventing Investing Everyday".
New loyalty arm Now a completely new division has been created: Vesdia Loyalty Solutions. The new business arm will work with client firms in the development of private-label customer savings and investment loyalty programmes in the financial services, retail, and consumer products goods (CPG) industries. The new division's name is to be accompanied by the tag-line "Creating Loyalty for Life".
In a statement to his employees, Vesdia's CEO, Peter Davis, said, "This date will serve as a milestone in the evolution of our company, as this outward change reflects important evolutions in our organisational development." He added, "By changing our name, Vesdia will clarify its identity as to what it is: the parent company of microinvesting programmes and providers of private-label CRM loyalty solutions."
Clear identity The new corporate identity is also intended to bring stakeholders more clarity about the structure of the company - specifically, about which part is the parent, and which are the operating companies.