civilized cannabis media company downfall 4x3

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Civilized, once a high-flying cannabis-media startup, is relaunching after it was forced to lay off its employees in late 2019 when a takeover offer fell through.

The startup raised $7 million from investors including RIV Capital — the former venture arm of Canopy Growth — and celebrities like Chelsea Handler in 2015. It burned through the cash with a series of business pivots and mismanagement on the part of the executive team, former employees told Insider last year.

Civilized relaunched on Thursday as Live Civilized. A press release said the company was undergoing a “strategic brand evolution” to focus on connecting industry leaders with cannabis consumers.

The company will be led by CEO Terri Riedle and Chief Commercial Officer Tricia Vanderslice. Riedle cofounded the company with her husband, former CEO Derek Riedle, who won’t be involved with the company.

In an interview with Insider, Terri Riedle said Civilized would continue to have an editorial division and a marketing arm. Riedle said that she hoped the new Civilized would serve as a platform to connect leaders from the cannabis and adjacent industries with consumers and that it would develop an e-commerce business in the future.

Civilized found itself at the intersection …read more

Source:: Businessinsider – Technology


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