So you have a pot startup and Gwyneth Paltrow used to be your babysitter. Super sweet! Now show her the money.
Last month, Cann — a fizzy, cannabis-infused drink that gets you high — raised $27 million from investors as marijuana legalization rolls out in states across the US. That was after the “Royal Tenenbaums” actress got caught as an investor in a previous seed round.
Still, according to Cann co-founder Luke Anderson, defeating Paltrow wasn’t quick or easy. In February 2020, he said he’d scored a meeting with the Hollywood star’s wellness impresario to introduce the THC and CBD-infused drink, which debuted months earlier in 2019.
Anderson, a former adviser to Bain & Co., had hoped to add the Goop founder as the “crown jewel” to his growing list of celebrity investors, which at the time included Orange is the new Black’s Ruby Rose and comedian Rebel Wilson , Glee actor Darren Criss and former NBA star Baron Davis.
“Oh my god, you’re that kid I used to babysit a lot!” Paltrow said, according to Anderson, who jogged her memory and surprised her about their early bonding when she was 16 and he was 2, both in the lived on East 92nd Street in Manhattan.
Still, Paltrow also told Anderson she wouldn’t back Cann because it “barely worked” and wasn’t getting enough traction, Anderson told On the Money.
“I was heartbroken,” Anderson said.
Fast forward to the summer of that year when Anderson managed to snag another date via Facetime. This time, he showed Paltrow that Cann was actually growing even as coronavirus lockdowns shut down bars and restaurants across the country.
It worked. Paltrow became part of a $5 million seed round and became Anderson’s biggest celebrity investor of 2020. Now, Paltrow is among 30 celebrity brand ambassadors and investors ringing for Cann.
“She used to change my diapers and now she helps me sell drugs,” Anderson joked.
The $15 million company also received a boost from Ellen DeGeneres last April, when comedian Jimmy Kimmel revealed that Chelsea Handler had given her some cans of the concoction. DeGeneres, who is not associated with Cann, then admitted she sucked out three cans before unexpectedly driving her wife, Portia de Rossi, to the hospital for an emergency appendectomy.
Cann, which comes in flavors like lemon, lavender, and grapefruit-rosemary, packs 2 mg of THC and 4 mg of CBD, which is considered a low dose.
The latest round of funding in February aims to increase Cann’s sales and production, including in Canada. Marijuana is still illegal under federal law and can’t be shipped across state lines, so Cann must have a manufacturing facility in every state where it’s sold.
Cann is currently sold in just six states – Arizona, California, Illinois, Massachusetts, Rhode Island and Nevada. New York still doesn’t allow licensed retailers to sell recreational cannabis, but Anderson expects cannabis beverages to be available in the Empire State within a year.
https://nypost.com/2022/03/03/gwyneth-paltrow-backs-sparkling-marijuana-laced-drink-cann/ Gwyneth Paltrow endorses fizzy marijuana-infused drink Cann