Jeremy Steinberg
0
All posts from Jeremy Steinberg
Jeremy Steinberg in Deals, M&A and more!,

Bob Marley-Branded Marijuana Startup Raises Record $82 Million USD in Funding

Fledgling marijuana startup Marley Natural Fine Cannabis has raised a record-breaking $82 million USD in funding, the highest amount ever recorded for cannabis-related businesses. As the movement towards marijuana legalization continues to gain traction, startup companies are looking to cash in on the growing marijuana industry, which is estimated to be worth around $30 billion USD by 2020. This opportunity has led Privateer Holdings, a Seattle-based private equity firm, to secure a 30-year licensing deal to use Bob Marley’s name and likeness to sell heirloom Jamaican cannabis strains. A cannabis icon and a commercial magnet worldwide, Marley and his branded products have sold over $20 million USD worth of goods in 2014 alone and is expected to continue that trend with the fitting release of Bob Marley-branded marijuana.

Author:Steven Suh