High Times, perhaps the most famous brand in the marijuana industry, was recently acquired by a group of investors that includes Damian Marley, Business Insider reports.
Venture capitalist Adam Levin (no, not the Adam Levine dude from Maroon 5 and The Voice, although that white dude can sing his ass off) partnered up with Marley’s newly public company Stony Hill, along with 17 other partners, to purchase the brand that Levin called “the Coca-Cola of cannabis media” for $70 million.
Damian, the son of Bob Marley, says that he used High Times in high school to learn how to grow marijuana. “High Times also had me daydreaming of so many beautiful strains that at the time I had not yet had the chance to experience,” he said in a statement. “It is now an honor to be a part of the High Times legacy that I’ve been a fan of for so many years.”
Damian Marley is quietly building a powerful portfolio in the burgeoning marijuana industry that combines cultural awareness, ethics and business savvy. Capitalizing off the number of states making pot legal, he opened a dispensary in the Denver Broncos’ Mile High Stadium and recently turned a California prison into a multimillion-dollar pot farm.
Business experts, investment analysts and dudes in barbershops with $17 in their pockets all say that the marijuana industry is the next boom in the financial sector. Investors like Marley who are poised to take advantage stand to make big profits.
Now that you know the specifics, I am legally obligated to throw in a bunch of marijuana puns:
- The reason there were so many investors is that they probably just went around to their friends and said, “I wanna buy High Times; you got five on it?” until they got $70 million.
- I know we’re roughly the same age, but I think I want Damian Marley to legally adopt me.
- I’m betting the new headquarters won’t have smoke detectors.
- I don’t know about the work environment, but I bet the snack machine in the break room will be off the chain!
- I really don’t care that Damian Marley is building a business empire; I’m just here for Lee Daniels’ TV show Weed Empire. You think Terence Howard can grow dreads? Can Taraji dutty wine?
- When asked for comment, the employees replied: “Huh? [Cough.] What? [Giggle.] You wanna hit this?”
- If they play Bob Marley all day on the office Muzak, I know some people who will be putting in an application tomorrow ... right after they roll this blunt.
- I bet the after-party was lit, though!
Read more at Business Insider.