/  10.13.2021

JAY-Z is continuing to make his mark in the marijuana industry, reportedly investing $19 million in the cannabis payment company Flowhub in a joint venture with Headline and Poseidon. According to Forbes, the $200 million-valued and Denver-based Flowhub helps cannabis dispensaries process payments.

With Hov’s investment, the company is looking to expand into other markets, further develop its products and grow its social equity program.

“When JAY says, ‘I’m not a businessman, I’m a business, man,’ it’s true,” Flowhub Founder and CEO Kyle Sherman told Forbes. “He’s got incredible business acumen — he really knows how to surround himself with brilliant people and build great companies.”

In a press statement, Sherman added, “We are thrilled to announce this capital raise. Headline is an incredible Silicon Valley-based venture capital firm, Poseidon is a pioneer investor in the cannabis industry and JAY-Z is a cultural and creative global force no matter the industry he is involved in.”

“I couldn’t think of a better group to be working with as we take this company to the next stage,” he continued. “This funding not only underscores the significant value that Flowhub provides to our customers, but also the maturation of the cannabis industry at large. We remain committed to developing innovative products that help our retail customers run better businesses.”

JAY-Z’s investment follows his 2019 partnership with Caliva, through which he launched his own cannabis brand MONOGRAM last year. The hip hop mogul also serves as Caliva’s chief brand strategist. Hov’s investments in the marijuana industry have often included social equity programs. Earlier this year, MONOGRAM launched a national drug policy awareness campaign, which educated users about the disproportionate effects of federal drug laws.

“The war on drugs worked, if systemic racism was the goal,” one ad from the campaign read. “You can marry your first cousin in more states than you can buy recreational weed.”


Horizem | 'Beyond The Streamer'

Up-and-coming streamer Marcyssa Brown (aka Horizem) shares with REVOLT’s Rodney Rikai how she got into ...
  /  01.21.2022

Pitch Black | 'Bet on Black'

With the grand prize on the line, the judges field pitches from a new batch ...
  /  01.18.2022

Jim Jones gives us the 12/17 - 12/19 weekend weather | 'Drip Report'

On a new “Drip Report​​,” Jim Jones gets us right with the weekend weather​​ forecast ...
  /  12.17.2021

Lil Duval, Sukihana, Project Pat, Big Homies House & Lil Scrappy join "Big Facts Live"

The “Big Facts” crew is live from the Buckhead Theatre in Atlanta, GA to celebrate ...
  /  01.04.2022
View More