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Amway (short for American Way) is an American company that uses a multi-level marketing model to sell a variety of products, primarily in the health, beauty, and home care markets. Amway was founded in 1959 by Jay Van Andel and Richard DeVos. Based in Ada, Michigan, the company and family of companies under Alticor reported sales of $11.3 billion for 2012, the seventh consecutive year of growth for the company. Its product lines include home care products, personal care products, jewelry, electronics, Nutrilite dietary supplements, water purifiers, air purifiers, insurance, and cosmetics. Amway conducts business through a number of affiliated companies in more than a hundred countries and territories around the world. Amway was ranked No.26 among the largest private companies in the United States by Forbes in 2012. Amway has been frequently subject to investigation as a pyramid scheme or fraud.