From Seoul to California: Building the World's Largest Cannabis Wholesale Platform as a Harvard Graduate

Meet JunSup Lee, co-founder and co-CEO of Nabis, the world's largest cannabis wholesale platform and distributor, who turned his passion into a successful entrepreneurial venture, defying conventional wisdom along the way.

1. JunSup Lee is the co-founder and co-CEO of Nabis, the world's largest cannabis wholesale platform and distributor.
2. Nabis has a team of 350 people and moves about $1 billion worth of products annually.
3. The company has raised $45 million in equity funding to date.
4. JunSup was born and raised in Seoul, South Korea, and moved to the US when he was 18 to attend Harvard University.
5. He became interested in entrepreneurship during his time at Facebook (now Meta), where he felt that his non-technical skills were undervalued.
6. In 2017, JunSup saw an opportunity in the growing cannabis market in California and co-founded Nabis with his best friend Vince.
7. Nabis initially started as a delivery service for cannabis products, but has since evolved into a full-service distribution platform.
8. The company provides services to both cannabis brands and retailers, including picking up products from production facilities, storing them in their warehouse, and shipping them to retailers upon r
9. Nabis differentiates itself by controlling the physical movement of goods, which allows for reliable delivery times.
10. It took Nabis two years to convince a bank to work with them, and they faced resistance from investors due to regulatory risk associated with the cannabis industry.
11. Despite this, the company has been successful in attracting investment from tech luminaries and funds who see value in supporting the industry.
12. JunSup's long-term goal is to become a career entrepreneur, solving complex problems across different industries.
13. He believes that anyone can tackle problems in a particular subject area, regardless of their background or experience.
14. Nabis currently accounts for 20% of all cannabis products consumed in California.
15. The company has seen strong growth as the cannabis market has legalized and ramped up.
16. Nabis' software platform has become more valuable as the market has grown, allowing operators to automate day-to-day deliveries.
17. Cannabis is a $25 billion market in the US.
18. JunSup was inspired to work in the cannabis industry after seeing how it can bring people together and allow access to parts of the brain that are typically not accessible.
19. He believes that people in different places can have radically different views on life, including on cannabis use.
20. Nabis' initial value proposition was simple: reliable and professional delivery of cannabis products.
21. The company has since expanded its services to provide a range of solutions for both cannabis brands and retailers.
22. JunSup believes that his background in tech has been valuable in building Nabis, particularly in terms of solving complex problems.
23. He is grateful for the growth that Nabis has experienced, but would be willing to start over again if necessary.
24. JunSup's ultimate goal is to make a big impact on the world through entrepreneurship.

Source: EO via YouTube

❓ What do you think? What is one problem you've faced in your entrepreneurial journey and how did you overcome it, or what lessons did you learn from the experience? Feel free to share your thoughts in the comments!