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PRØHBTD is poised to completely disrupt the multi-billion dollar global cannabis industry phenomenon, and build first-ever bridges with mainstream brands and culture. In June 2018, PRØHBTD announced that it had secured $12MM in funding. The financing package included a new $8MM Series A round led by Serruya Private Equity, The Delavaco Group and Cresco Capital, with early participation from Donald Glover.
Total revenues in 2017 were $1.35MM, with forecast revenue of $3.7MM in 2018, $14.2MM in 2019 and $34MM in 2020. Q1 2018 bookings were up 520% from Q1 2017.
- Rapidly growing cannabis industry with attractive customer demographics.
- Highly experienced team in brand development, media and online monetization.
- Highly attractive, high-margin production model for original content.
- Established industry leader in brand development, digital media and marketing/advertising.
- Incredible brand creation and equity partnership opportunities.
- Website and media network deliver strong engagement data.
- Uniquely positioned to create a trusted cannabis e-commerce experience.
With $12MM of fresh funding to fuel growth and acquisitions, PRØHBTD is ready to soar. The company is already a global media force in the cannabis industry and has a highly experienced team in brand development, media and online monetization to go with a proven, high-margin model for producing and distributing original content. This is a super strong story in a fast growing market, and the CFO will have a dream opportunity to climb aboard and help drive this.
As it grows rapidly, the company needs to build out a sophisticated financial management function and strategy, while establishing the right financial policies, controls, standards and procedures. This will be a key part of the CFO’s main mission. The CFO at PRØHBTD must have the grounding to build and help run a fast-growing global business, headed into the public market. To excel, you’ll need to understand the business’s complex equations and competitive landscape – see and grasp the entire model, not just the numbers.
But you’ll also be hands on – especially in the early going. Your expertise will be vital in the acquisitions realm, and experience in that domain – along with the critical post-acquisition integration component – will be important.
As the company moves to the public markets a CFO with current or past public company experience will be important. IPO experience or specific RTO expertise is great, but not a must. Public company experience at a management level and the relevant understanding of financial controls and reporting in a public environment is key.
This CFO role is much more than merely a matter of running point on finance for a media company. It’s also someone who can help craft the financial narrative for VC investors, as well as for the retail investor market.
As CFO of PRØHBTD, you will define the team you need, and go build it. Currently the firm is outsourcing the finance function, so you will have a clear path to do so. Current budget anticipates a finance team of about 5-6 people.
- Advise senior management on financial planning, budgeting, cash flow, investment priorities and policy matters.
- Serve as management liaison to the Board; effectively communicate and present critical financial matters at Board and committee meetings.
- Contribute to development of the company’s overall strategic goals and management.
- Maintain continuous lines of communication, keeping the CEO and other key executives informed on all critical issues.
- Oversee and direct the finance and operations teams.
- Promote a culture of high performance and continuous improvement that values learning and a commitment to quality.
- Ensure staff members receive timely and appropriate training and development; mentor and develop staff using a supportive and collaborative approach.
- Establish and monitor staff performance and goals, assign accountabilities, set objectives and priorities, conduct performance appraisals and administer salary adjustments.
- Upgrade and/or implement an appropriate system of policies, internal controls, accounting standards and procedures.
- Plan, coordinate and execute the budgeting process.
- Provide analytical support to the internal management team.
- Poised, articulate and comfortable speaking in public on behalf of the company, including – importantly – in the closely scrutinized context of a public offering in both the U.S. and Canada.
- Ability to speak articulately to investors, analyst, and related audiences. Be a front-line contributor helping to craft and present investor road shows.
- Significant corollary experience with raising significant new funds (as PRØHBTD plans to do in the near term).
- Understanding of the mechanics of digital media, as well as the mechanics of products and transactional* businesses.
PRØHBTD leadership sees “transactional” business as having two key sides in this context:
1) The M&A side. PRØHBTD is planning to acquire companies that can fill out the capabilities stack. The CFO will assess the value of such acquisitions currently and in the future.
2) In addition, the CFO must understand transactions around products that the company already has or will build in the future. Such products may even go into major big box retail stores.
- Understanding of complex, matrixed organizations that have multiple business units, and how PRØHBTD can help create and grow enterprise value in a given business unit.
- Proven ability to help company leadership understand and put controls around unit economics; speak to the business operations people and make sure the company is tracking officially against such unit economics.
- Brand, digital media and content DNA. Perhaps with prior domain experience in CPG, e-commerce and (most importantly) digital media.
- Startup & scale expertise: Entrepreneurial experience with a sleeves-up & hands dirty work style. Been through the growing pains and execution of getting to scale.
- Public company experience: Not necessarily as CFO, but ideally you have senior finance leadership experience in a public setting and are well versed in areas such as analyst relations, investor relations and financial reporting. Ideally this includes experience with RTOs, as well as U.S. IPO experience, but not a must.
- Company Leadership: Owned a seat at the leadership table helping set strategy and overall company direction with heavy Board exposure.
Additional Requirements & Qualifications
- Acquisitions and integration experience is a must.
- 8-10 years experience in a senior management in a rapid-growth setting.
- Bachelor’s degree, preferably in Finance or Accounting, or a related discipline. An MBA or MS in Finance is preferred; CPA also preferred.
- Proven, high-level expertise in finance, fundraising and accounting.
- Excellent judgment and creative problem solving skills, including negotiation and conflict resolution.
- Superior management, mentoring and leadership skills; ability to influence and engage direct and indirect reports as well as peers.
- Exceptional written, oral, interpersonal and presentation skills and the ability to effectively work with senior management, Board members and investors.
- Ability to operate as an effective tactical as well as strategic thinker.
- Strategic thinker and doer; much more than just finance. Selected candidate will have tackled and solved complex problems, driven critical high-stakes decisions. The CFO must truly understand and be able to prioritize in real-time, the big things that matter.
- Led growth, scale and success! PRØHBTD is looking to scale quickly, so the selected CFO must have been where PRØHBTD is going rather than where it’s been.
- Leadership. PRØHBTD needs more than someone with financial savvy; it needs a person who can lead with the vision of knowing where the company needs to go and determine how best to get there.
- Startup AND corporate. The selected CFO will have benefitted from training in the forge of the best run companies but also done a tour or tours of duty in scrappy, resourceful, “failure is not an option” startup(s) as well.