Mike Tyson is moving full-speed ahead with his hot cannabis brand, Tyson 2.0. In June, the company "announced the close of its oversubscribed $9 million Series A round led by JW Asset Management. Additional investors in the round include K2, Ambria Capital, Tress Capital, and Patrick Carroll," accordiung to a press release.
"This is just the beginning," co-founder/president Chad Bronstein hyped. "Tyson 2.0 is being sought out by some of the hottest pop culture icons who are cannabis advocates and users, and want the opportunity to share their love of the plant with their fans."
Tyson has faced criticism over his 1992 rape conviction in Indiana. Also, earlier this year, Tyson 2.0 was knocked for releasing Mike Bites, an edible shaped like Evander Holyfield's ear that Tyson took a bite out of in a championship fight in 1997.
In a podcast interview with New Cannabis Ventures conducted by Carrie Pallardy, Bronstein and Tyson answer questions about Tyson 2.0's products and future prospects. Here are some highlights:
At the Start
Tyson: I didn't understand it at first. Once I met Chad it was a no-brainer.
How They Met
Tyson: I met Chad and (CEO) Adam Wilks through my brother-in-law.
Bronstein: A lot of celebrity brands don't succeed because the celebrities are not involved. That's why we're different.
Tyson: "Our Toad line is strong, potent cannabis that brings people to enlightenment."
Tyson: The Toad came from taking a psychedelic. It had enlightenment. I did it 70 times. That put me in the position to be successful. Our Toad line is strong, potent cannabis that brings people to enlightenment.
Bronstein: One of our biggest success stories is Mike Bites. Kiki, [Mike's] wife, came up with the idea and we took it to market. It sells pretty quickly. It sells out.
I'm a big wrestling fan and so is Mike. Mike was in Tampa talking to Ric Flair. A week later I saw Ric at the Marriott. I told him I'd like to start a cannabis brand with him. We had lunch the week after. He went to meet Mike and then we launched the Ric Flair Drip. Rick is like Mike. I feel blessed to be able to work with both of them.
Chad Bronstein: "One of our biggest success stories is Mike Bites."
Bronstein: We're now in 24 states. East Coast and the Midwest are our biggest markets. We partnered first with Columbia Care. We have a good relationship with all the MSO retailers. We're going to have a push in Canada soon. We're also looking at Thailand, Uruguay, the UK and Germany... No one has done what we've done. We're doing millions of dollars a month in revenues. We're profitable at this point.
Tyson: We put in the work. The biggest problem we're going to have is keeping products on the shelves. It's all about the growth. We're winning now. I'm very happy for our success.
Bronstein: It's about staying relevant and knowing your consumers.
Tyson: My biggest goal is to have federal legislation. Tyson 2.0 is the way to go.