The “Godfather of Canadian Weed” is showing interest in famous porn site Pornhub with investors

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Pornhub discusses the possibility of an acquisition with an unidentified investor group led by entrepreneur / “The Godfather of Canadian Weed” Chuck Rifici as the first interested in this blockbuster sale.

Chuck Rificic - who was the CEO of Tweed Marijuana Inc before his impeachment, as well as the former CFO of the Liberal Party of Canada - has negotiated with current owner MindGeek to purchase the high-traffic online porn platform.

Canadian content and lawsuits

Pornhub is Canadian-owned Mindgeek, which reportedly posted more than $ 2018 million in revenue in 460. It hit the headlines last winter after 40 people sued them for saying they were victims of sex trafficking because of content hosted on the site. One victim told VICE she had been told her videos would not appear on the Internet. Even after multiple complaints, she said the site hasn't taken it down (while Pornhub says it has since made changes). The latter reportedly declined to comment on three separate occasions when contacted.

Investment amount by Canadian cannabis investors for Pornhub still unknown

Currently, the price, the identity of other investors and whether the capital required for such a purchase is actually feasible by Rifici remains unclear for the time being. Until now, reporting on the fate of this banging X-rated library Pornhub was missing altogether. It's like the whole affair is being conducted through the incognito mode away from real life.

“I'm always looking at different deals and my team at investment firm Bruinen is exploring a number of options. But until there is something to announce progress, I have no further comment, ”said Chuck Rifici in response to questions about the potential sale of Pornhub.

About Chuck Rifici

Rifici - who describes himself as a “father, husband, atheist, gamer, Gumballer, founder” in his Twitter bio - founded in 2013 Canopy Growth (then called Tweed Marijuana) with Bruce Linton. He became famous for his resignation from Canopy in 2014 in which he sued them for wrongful dismissal and demanded $ 230.000 (which equated to 12 months severance pay instead of the four months he received), and an additional $ 100.000 for mental distress.

Canopy responded with their own claim, saying that Rifici's performance was "unsatisfactory". After serving three Boards of Directors at cannabis companies, he founded in 2017 Auxly us.

Sources include BossHunting (EN), Business Insider (EN), BusinessOfCannabis (EN), DutchCowboys (NL)