Tilt CEO Is Bullish on U.S. Cannabis, Expects Market to Reach $100 Billion
*By Chloe Aiello*
Tilt Holdings CEO Alex Coleman is bullish on U.S. cannabis ー and Tilt is positioning itself to have a presence all across the country to take full advantage of the shift from medical to recreational legalization as it happens.
"There's no question this will be the biggest market ー our internal numbers say probably $100 billion. The only variable in that is the time all these states go recreational and the price," Coleman told Cheddar on Thursday.
Tilt is an enterprise cannabis company focused on technology and infrastructure for the marijuana industry. The company sees revenue both from the cultivation and sales of cannabis, and from ancillary industries like software services. Tilt [reported on Thursday](https://www.nasdaq.com/press-release/tilt-holdings-reports-preliminary-consolidated-revenue-for-january-2019-and-fiscal-year-2018-20190214-00486) preliminary consolidated revenue of $18.3 million USD for January 2019 ー the first indication of the company's performance since it went public on the Canadian Securities Exchange in December.
Coleman said listing was a strategic maneuver to enable more acquisitions, but that he would like to see some appreciation in the company's estimated $750 million market cap before it makes more acquisitions or considers a move onto U.S. markets.Coleman did say, however, that a U.S. listing would be "ideal" and that the company would try to access the U.S. markets with its "substantial" ancillary revenue.
Tilt is also attempting to gain a foothold in U.S. states that have already legalized medical use to "capture the conversion" to recreational, Coleman said.
He thinks the opportunity to scale the market exists in those states, even if federal laws have not yet caught up to the state trend.
"It's interesting, everyone was discounting the industry based on the federal-state conflict, but that's really not the right way to look at it," said.
Aside from the U.S., Tilt also has its gaze trained on Europe, which is shaping up to be a promising marijuana market, especially following the [European Parliament's Wednesday vote](https://www.forbes.com/sites/javierhasse/2019/02/13/european-parliament-passes-cannabis-resolution-joins-who-in-supporting-medical-marijuana/#19ceb5f5fd5b) to encourage adoption of medical marijuana regulation in the EU.
But when it comes to the first G7 nation to legalize cannabis, Canada, Coleman said he's "not as bullish."
For full interview [click here](https://cheddar.com/videos/tilt-holdings-ceo-sees-europe-as-the-next-big-cannabis-market).
Pinky Cole, founder and CEO of Slutty Vegan ATL, is helping college grads start new businesses. She is providing Clark Atlanta University grads with LLCs. Cole joins Cheddar News to discuss giving grads a financial boost and the success of her vegan food chain.
According to a survey, 45% of LGBTQ youth seriously considered attempting suicide in the past year. Amit Paley, CEO and Executive Director of The Trevor Project, joins Cheddar Pride to address LGBTQ youth mental health.
Reepher is a Salt Lake City-based company that offers a prepaid legal defense plan for cannabis DUIs. CEO and co-founder Justin Kahn joined Cheddar News to break down the business model, explaining how lawful users may be in trouble when being pulled over by police. "The reason is because cannabis users have THC and cannabis cannabinoids in their system regardless of the last time that they consumed," he said. "Any regular cannabis user is at risk, or they're one mistake away from having an interaction with a police officer that could lead them to be suspected of being under the influence of cannabis."
Elon Musk is demanding his Tesla employees to return to the office full time, a minimum of at least 40 hours a week. The CEO also took a shot at other companies who have some form of work-from-home status. The ultimatum comes at a tumultuous time for Musk with the reveal of a sexual misconduct scandal and his attempted Twitter purchase.
Bindu Sundaresan, Director, AT&T Cybersecurity, joins Cheddar to discuss best practices and important cybersecurity milestones to hit for any organization, and how small business owners can think about cyber beyond technology and compliance.
Marques Ogden, former NFL offensive lineman turned author and celebrity success coach, joins Cheddar to discuss his career transition after his NFL playing days and how he overcame a low point to prioritize family and re-shape his life as a success coach.
Mark Bowen, General Manager at Midnight Sun in San Francisco, joins Cheddar to discuss how the pandemic affected LGBTQ+ nightlife and the return to work for service industry workers.
On this episode of On the Job, Mark Bowen, General Manager at Midnight Sun in San Francisco, discusses how the pandemic affected LGBTQ+ nightlife and the return to work for service industry workers; Drew Lewis, VP Diversity, Equity, and Inclusion & Talent, ADP, breaks down how DE&I practices can drive greater business value and how organizations can effectively create an action plan for supporting DE&I in the workplace.
Drew Lewis, VP Diversity, Equity, and Inclusion & Talent, ADP, joins Cheddar to break down how DE&I practices can drive greater business value and how organizations can effectively create an action plan for supporting DE&I in the workplace.
