Cannabis Watch: Cannabis edibles company Wyld builds national footprint as it keeps hiring

by | Nov 1, 2022 | Stock Market

Wyld plans to add about 200 more workers to bulk up to nearly 1,000 employees next year, but the Oregon-based cannabis edibles company has no immediate plans to raise outside capital. Wyld CFO Eric Hoest told MarketWatch that the company has been funded entirely by its founders and its own revenue to grow to an expected $150 million in sales, from $100 million in 2021.

In a move often referred to as “bootstrapping,” the company remains self-funded instead of selling stock as a micro cap or seeking a backer from the world of private-equity or venture-capital funds. Inspired by the activism of outdoor-clothing and mountain-climbing-gear maker Patagonia, Wyld prides itself on its environmental and social-justice work rather than focusing purely on profits. The path it’s chosen without any institutional capital helps it retain its independence for projects such as investing in more environmentally friendly packaging with its new Good Tide premium gummy products, Hoest said. “Outside capital can be extremely powerful and useful, but it also comes with other things,” Hoest said. “If you’re able to manage through without it and can get the right team at the table, then there’s no rush.” Also read: Cannabis legalization go …

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