Gwyneth Paltrow Invests in Cannabis Beverage Business

Gwyneth Paltrow Invests in Cannabis Beverage Business
CANNANNEW REPORT

In her teens, film star Gwyneth Paltrow used to make extra money as a babysitter. Now 49, the Oscar-winner is using the money made from a long, successful film career to back a new venture from a marijuana entrepreneur she used to babysit. That entrepreneur is Luke Anderson, who co-founded Cann, a cannabis-infused beverage brand. However, it apparently took a great deal of perseverance on Anderson’s part. The film star initially turned him down in 2019 because she didn’t feel the brand was big enough. And Paltrow knows something about big. Her Goop brand, founded in 2008 as a weekly newsletter from Paltrow’s kitchen, has grown into a $250 million media, events and eCommerce empire. However, Paltrow has since decided to back Cann, contributing to a $5 million round of seed money for the fledgling company that offers THC-infused and CBD-infused beverages. “It’s a different kind of buzz — mellow, drinkable, and especially nice for sipping in the sun,” Paltrow says in an endorsement on the Cann site. Gwyneth Paltrow Joins Other Celebrities Investing in Cann Paltrow joined a long list of celebrities who have invested in Cann. They include Darren Criss, Rebel Wilson, Nina Dobrev, and Kate Hudson. According to the story Anderson related to the New York Post, Paltrow said, “Oh my God, you’re that kid I used to babysit a lot!”, when he jogged her memory about a time when they both lived on East 92nd Street in Manhattan. At the time, a 16-year-old Paltrow babysat a two-year-old Anderson. “She used to change my diapers and now she supports me in selling drugs,” Anderson joked, according to the Post. Cann is using the latest round of funding to expand its manufacturing and distribution network. Because cannabis is illegal at the federal level, companies can’t ship cannabis across…

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