Billionaire Jay Z in 2019 entered a multiyear partnership with a California-based cannabis company Caliva as the chief brand strategist and announced his first marijuana line titled Monogram.
He then curated a playlist dedicated to the strain(s) on his streaming App,
The brand’s website is live at www.monogramcompany.com and on Instagram at @MONOGRAMCOMPANY.
Jay Z has now invested in a tech company that helps marijuana dispensaries process payments.
According to a report from Forbes on Oct. 12, the billionaire rap mogul has invested $19 million in Flowhub, a cannabis point-of-sale company, based in Denver, that helps make the lives of dispensaries much easier.
Flowhub, founded by Kyle Sherman six years ago, assists marijuana dispensaries with processing sales transactions, monitoring inventory, tracking analytics, complying with state cannabis laws and more. Additionally, the company handles over $3 million in weed transactions for more than 1,000 businesses across over a dozen states each year.
The company now has a reported value of $200 million, following his investment.
On Hov’s participation in the growth of Flowhub, the company’s founder was quoted saying, “When Jay says, ‘I’m not a businessman, I’m a business, man,’ it’s true. He’s got incredible business acumen—he really knows how to surround himself with brilliant people and build great companies.”