We got an exclusive take a look at the presentation that wellness start-up B Great is using to raise $2.5 million to chase down the $2 billion CBD market
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- Barbara Goodstein, the founder of CBD startup B Great, shared the pitch deck she’s utilizing to raise $2.5 million.
- She’s closed on $1.5 million in equity funding already, and she’s wanting to raise another $1 million in convertible notes. She informed Service Insider she’s closed on $450,000 of that currently.
- Analysts anticipate the customer CBD space to become a $2 billion opportunity in just two years.
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That’s what at first clued in B Great’s founder, Barbara Goodstein, that CBD might be an enormous opportunity.
In December of last year, Goodstein decided to discovered B Great, a consumer startup that sells products ranging from hemp oil to creams and balms containing CBD.
To date, B Great has actually raised $1.5 million in equity over 3 funding rounds, with the newest round closing in February.
So far, B Great has been a lean operation– Goodstein herself is the only full-time employee along with a few crucial advisors.
B Great’s other financiers include Howard Morgan, the cofounder of First Round Capital and an early Uber financier, along with a slew of other specific financiers including Nick Kovacevich, the CEO of cannabis company KushCo, and David Mars, a partner at White Owl Capital Partners, an early-stage endeavor fund.
Like most other CBD brand names, B Great is primarily an e-commerce organisation, offering items through its website and other online channels.
Here, B Great touts some of the purported health benefits of CBD.
Lots of CBD business have entered into difficulty with consumers– and the FDA– for declaring health benefits that weren’t checked, and for products consisting of greatly various doses than the labels say.
Here is Goodstein’s vision for the business.
All of the CBD in B Great’s items is sourced from hemp, which is a type of marijuana which contains less than 0.3%THC, the chief psychoactive element of the plant.
Goodstein says her products are all strictly evaluated, which the doses always match what the labels say.
According to New Frontier Data, CBD is expected to be a $2 billion consumer category in the next two years.
Lord Jones, a CBD brand, cost $300 million to Cronos Group last year– the chance in the industry is immense.
Here’s a picture of B Great’s forecasted profits over the next 2 years.
Goodstein is out searching for another $550,000 in convertible notes to hit the $1 million objective.
Here, you can see the products B Fantastic deals, including CBD shots, skincare items, and balms.
B Great also offers hemp pills and creams.
This is B Great’s breakdown of the target customer for each item.
Here’s the results of B Great’s 50 individual survey, comparing its products to rivals.
Goodstein states that her long background in marketing will help B Great separate its brand in a significantly crowded field.
This slide compares B Great’s packaging with that of its competitors.
A quick picture of some of B Great’s press coverage.
Aside from Goodstein, B Great is run by a group of consultants including marketing head Ellen Braslau, a former journalist.
Here’s the rest of the advisory team.
B Great’s raw hemp is sourced from Kentucky and Tennessee, and the startup works with a certified GMP center in Nashville for its manufacturing.
Here’s a breakdown of B Great’s marketing strategy.
B Great states it has actually not missed satisfying any orders for the duration of the pandemic.