Josh Kesselman, the founder and CEO of RAW Rolling Papers, has unveiled an unconventional vision for taking his company public: selling shares via QR codes printed on the rolling papers themselves. This innovative idea was shared during his appearance at the Cannabis World Congress & Business Exposition in New York, where Kesselman expressed his desire to foster a community-oriented approach to an initial public offering.
In his discussion with CNBC’s Tim Seymour, Kesselman, donned in his signature extravagant attire, articulated his dream of integrating his loyal customer base directly into the company’s shareholder structure.
“My dream would be to bring the company public in a way that only our fans – like our consumers, our smokers – can invest with us. That way it’s more of … a RAW community,” Kesselman stated.
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Kesselman’s ambition involves allowing consumers to buy shares through QR codes embedded in the packaging of RAW products. “For every one you scan, you’re allowed to buy a share. That way I can keep certain sharks out,” he elaborated.
Despite the novelty of this idea, Kesselman acknowledged the challenges, recognizing that current securities regulations make it difficult to restrict share purchases solely to consumers.
During the expo, Kesselman ruled out the possibility of a corporate takeover by a large consumer goods company like Procter & Gamble. He emphasized his preference for maintaining the unique identity of RAW and keeping the company in the hands of those who truly appreciate its products.
“Imagine if you ran a publicly traded company where all of your shareholders were your fans who consumed your product. Imagine what that would be like,” he mused.
Beyond his business ventures, Kesselman is also known for his significant philanthropic efforts. Through RAW Giving, the charitable arm of HBI International (the parent company of RAW), Kesselman has donated millions to various causes, including clean water initiatives in Ethiopia and support for cannabis law reform through organizations like The Weldon Project.
Information for this briefing was found via Green Market Report and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
