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NFL Star Joe Montana and Former Yahoo! CEO Invest in NorCal Canna-Brand
NFL Hall of Famer Joe Montana and former Yahoo! CEO Carol Bartz have invested in Northern California cannabis brand Caliva. The company announced in a press release on Thursday that it had closed its first round of funding after raising $75 million.
Montana, a Super Bowl MVP three times over, founded the venture capital fund Liquid 2 Ventures in 2015. In 2017, the fund was part of a group that invested $4.1 in cannabis technology company Herb. Montana said that he believes that Caliva can provide meaningful benefits while delivering profits.
“As an investor and supporter, it is my opinion that Caliva’s strong management team will successfully develop and bring to market quality health and wellness products that can provide relief to many people and can make a serious impact on opioid use or addiction,” said Montana.
Caliva employs more than 400 people and operates a cannabis cultivation facility and dispensary in San Jose, a distribution center in Brisbane, and a service that delivers marijuana throughout the Bay Area. The company also has its own brand of cannabis flower, pre-rolled joints, and vape pens that are sold in dispensaries throughout California. Its offerings rank among the top ten best selling products in California, according to Headset, a cannabis data analytics platform.
Montana Joined by Tech Exec
Bartz, former CEO of Yahoo! and Autodesk, will also be joining Caliva’s board of directors. She said that she saw great potential in the vertically integrated cannabis company.
“I know great opportunities when I see them,” said Bartz. ” I believe that Caliva will be the first true large scale consumer product company in the U.S. cannabis industry.”
Bartz told Forbes that she was not blindly jumping on the cannabis investment bandwagon.
“This is not an investment in the broad industry–this is an investment in a very good company in a very big industry,” Bartz said.
Bartz plans to work with the marketing department at Caliva to determine ways to counteract the stigma still attached to cannabis and attract “cannabis curious” consumers.
“Not everybody wants to go into a dispensary, but they’d like to try the products,” Bartz said. “We really need to go from word of mouth to real consumer marketing around the wellness products.”
Dennis O’Malley, the CEO of Caliva, said the new funding will be used to develop new products including a new line of cannabis-infused beverages. The company also plans to expand into five new California markets and invest in customer education.
“We’re building a brand that people will look to as a trusted company in terms of our business practices and what our company stands for,” O’Malley said.
O’Malley said the company will serve both the recreational and medicinal cannabis consumers.
“We’re known for products that are fun for you,” said O’Malley. “We’re extending that as well as releasing a product category for pain relief, sleep and anxiety.”
O’Malley told Bloomberg that he had high hopes for Caliva.
“What we’re trying to do is be the No. 1 brand in California,” O’Malley said. “We believe this is where global brands are made.”
The post NFL Star Joe Montana and Former Yahoo! CEO Invest in NorCal Canna-Brand appeared first on High Times.
Why Does Facebook Still Hate Legal Marijuana Businesses?
Why Does Facebook Still Hate Legal Marijuana Businesses?
At this writing, thirty states and the District of Columbia have legalized some form of marijuana, be it recreational, medical or both, with Colorado having been in the latter category for more than four years. Nonetheless, Facebook and Instagram continue to make it difficult for cannabis businesses to advertise and promote themselves on the platforms. The scenario causes frustration within the…
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In the Legal Weed Business, How Deep Does the “Suits vs. Stoners” Schism Run?
In the Legal Weed Business, How Deep Does the “Suits vs. Stoners” Schism Run?
By Mona Zhang
(the influence)
“It took me getting into the weed business to actually put on a suit,” laughs Duncan Cameron at the Denver grow he oversees. As the chief production officer at Colorado dispensary Good Chemistry, Cameron has given tours of the company’s 20,000 square-foot grow to businesspeople and politicians in the era of legal cannabis. Often, his role requires him to dress up.…
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Spotlight On The Cannabis World Congress & Business Expo
Cannabrand is passionate about defining exactly what it means to be a cannabis user. This was apparent at the first Cannabis World Congress & Business Expo last month in New York City as co-founders Jennifer DeFalco and Olivia Mannix took the stage. From June 17-19, The Javits Center hosted the inaugural CWCBE, which promised to be the East Coast’s biggest cannabis expo, and Cannabrand was more than honored to be a speaker.
As a leading branding agency in the cannabis industry, DeFalco and Mannix have to tread confidently. The theme of their presentation, Changing Minds: Rebranding Cannabis for the Mainstream, is a solid concept in dire need of circulation. Co-founder Jennifer DeFalco explains:
“We wanted to educate people who were looking to get into the industry, or who were interested in cannabis in general, on the importance of changing perceptions surrounding cannabis in order to change policies, and to broaden the demographics of ‘cannabis consumers.’ ”
The discussion covered a range of topics, including the media’s current outlook and perception of marijuana users as “hedonistic,” how cannabis companies can and should responsibly advertise in a way that doesn’t dumb down or over sexualize their products, and marketing compliance tips for the Tri-State area (courtesy of iComply). Also included were proprietary consumer insights and data supplied by cannabis market research firm, Brightfield Group.
In addition to sponsoring lanyards for the CWCBE, Cannabrand also co-sponsored an after party. DeFalco describes the guests as having been “a really great mix of industry veterans, and people looking to get into the cannabis space. Everyone from activists, marketers, investors, and even a few doctors were mingling, learning from each other.”
So, what were Cannabrand’s takeaways from the Cannabis World Congress & Business Expo? According to DeFalco and Mannix:
1) There are layers of industries within the industry. The cannabis space is evolving so rapidly; Just walking around the expo, we saw innovative products being developed that service both the medicinal and recreational sectors, and everything in between.
2) Everyone wants to get involved, somehow. We met lawyers, doctors, scientists, marketing professionals, who are all interested in cannabis and who want to break into the industry while it’s still in its (relative) infancy.
3) Activists, growers, and industry veterans are leading the way. It was great to see people who have been working in the industry for so long, excited to share their experience and knowledge with newcomers. There was a general understanding that in order for policies to change and advance, we all need to work together. After all, rising tides raise all ships.
Bookmark the Cannabrand blog, The CannaBuzz, and visit often for even more elevated conversation. “Like” Cannabrand on Facebook and head over to Cannabrand.us to contact Jennifer and Olivia.
Follow Your Dreams: "I Choose Cannabis and Business" Workshops Slated for Five Cities in Early Fall | CannaMagazine
