Cannabidiol—more popularly known as CBD—is becoming even more mainstream.
Consumers are turning to CBD to cope with anxiety and other medical issues, with Statista estimating that 2020 sales will reach $1.15 billion. But with any burgeoning industry, there are snake oil salesmen; figuring out who they are can be tough.
The popularity of CBD—and the amount of misinformation out there—has created an opportunity for Eaze, a cannabis delivery company in California, to flood the market with the one-two punch of CBD products and educational material. Its website teaches consumers about everything from proper usage to figuring out the amount of CBD in each product. To that end, the company, through its new digital marketplace, Eaze Wellness, will now sell and ship CBD products to 41 states and Washington D.C. It will not sell in California due to an ongoing debate over the regulation around what types of CBD can be sold and by whom.
“We saw a consumer need for basically a one-stop shop for safe, hemp-qualified CBD products,” said Shri Ganeshram, vp of growth at Eaze. “What we’ve done is created a curated CBD marketplace of what we believe are the best [products].”
Eaze raised $27 million in September 2017 in a Series B round of funding and has more than 350,000 customers, with more than 2.5 million deliveries in four years. The company declined to share growth and revenue numbers.