Pornhub Founder Invests Big in German Cannabis Startup

“Porn King” Fabian Thylmann, the founding father of quite a few grownup web sites, is financially backing a German hashish startup based in 2017. Initially, Thylmann invested a six-figure sum, however by the top of 2017, his funding firm SN Invest poured a minimum of one million into the Cologne-based Cannamedical, firm CEO David Henn advised Marijuana.com.

In November 2016, simply two months earlier than the German Bundestag determined to legalize hashish for medical functions, Henn based Cannamedical. Today, Cannamedical has 20 staff and is trying to fill 10 open positions for 2018.

Thylmann made his first tens of millions with web sites like Youporn and Pornhub and based the Manwin group (now MindGeek), which he bought in 2013. Shortly earlier than promoting Manwin, Thylmann was charged with a tax offense in Germany which was resolved in December 2016 after a cost of a number of million euros.

“The medical cannabis business has similar financing issues as I had in the past. It is a very profitable business but few banks and funds today are comfortable with it globally. My old network puts me in a unique position to help companies in this field move forward more than others, and I have no fear investing in businesses I believe are beneficial for mankind, as long as they are legal. Cannamedical is one of the very few companies with a permit to distribute in Germany. They are in a unique position in a very strong market and are very well set up for unprecedented growth. Who is better positioned than a German company with German principles and accuracy?” Thylmann stated in an unique interview with Marijuana.com.

Henn expects gross sales to extend by tenfold in 2018

the ceo of germany's cannabmedical

Cannamedical CEO, David Henn

For months, Cannamedical has been capable of import hashish into Germany for medical functions. During the previous yr, the youngest of the 4 hashish import corporations was capable of promote 300 kilograms of hashish to German Pharmacies to the tune of two.2 million euros (2.four million U.S. dollars).

Cannamedical is presently sourcing all merchandise from the Netherlands, however it will quickly change. In the close to future, a Canadian licensed producer is predicted to assist help the corporate’s projected demand of 250 kilograms of hashish per 30 days, offering Cannamedical the availability wanted to extend gross sales tenfold.

Henn has acquired a substantial amount of cooperation request from potential growers overseas, and unusually sufficient, numerous requests got here from the small nation of Lesotho. But Henn believes the excessive European manufacturing requirements can be troublesome if not unimaginable to satisfy in the dominion that’s encircled by South Africa.

After Cannamedical had acquired quite a few rejections by potential buyers in early 2017, the outstanding Youporn founder and Playboy TV operator provided to finance the younger firm. “Thylmann is a strong, independent partner who invests from his own assets, not relying on funding bodies’ approval. By the time the media began to report regularly on the law passed in March, potential investors were still being scared off by the word cannabis. We were among the classic three exclusion categories of alcohol, drugs, and sex,” stated Henn. “That’s why we were lucky to find investors even before the legitimacy of medical cannabis was widely accepted.”

Now that the die has been forged for the corporate, the buyers have began lining up. “Since the potential of cannabis became more popular due to numerous media reports, many potential investors have expressed interest — just nine months too late.”

Photo courtesy of Allie Beckett





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