We did it together
Thank you to all our investors!
Fifth Round of Giveaways:
The fifth and last round of Investor giveaways(perks) starts in 2 weeks.
First Factory Images of Cibigo (A Chow Brand):
Last week, we announced plans to start the production of Cibigo.
This week, we've started producing our in-house CBD brand, Cibigo.
Cibigo will allow us to provide more variety and perks for customers on Chow.
Cibigo will also be at the forefront of our monthly subscription boxes this fall.
Cibigo will be available on Chow420.com in about 2 weeks.
Product Line Up for Cibigo:
1. Full Spectrum Gummies: 500mg, 1000mg and 2000mg
2. Full Spectrum Tincture Oils: 1,000mg and 2,000mg (NEW)
3. 750mg CBD capsules
4. 1g CBD pre-roll
5. 400mg CBD healing Salve
6. 750mg CBD sports capsules with Tumeric Root to aid pain relief
Based on our market research and goals for this round, we have decided to focus on our automated markets and online marketplace.
On the online end, the goal is to achieve an Amazon for CBD products through our mobile applications (Oct. 2020) and website. With our CBD Brand partners, we will be introducing a 'Sold by Chow' service on Chow420 this fall. The 'Sold by Chow' service will power same-day deliveries for customers in the North-East (due to the presence of our automated markets in the north-east) and provide 24 hour-72 hour (Free-Shipping) deliveries for customers nationwide.
Another goal for the online platform is to support over 5000 independent dispensaries. Dispensaries on Chow pay monthly fees, and we collect 12% of all transactions from independent dispensaries.
We will also be including CBD subscription boxes/memberships for customers this fall, and Cibigo will be the CBD brand for our subscription boxes.
For the automated markets, we will launch 1 to 3 automated markets between 2 cities (Philadelphia and New York). We will launch the automated markets one after the other, so we don't make any mistakes. The goal for the automated markets is to use the data we get from the first automated market to launch more automated markets. The automated markets will be in strategic locations and contain about five to ten machines each, with a delivery service that can cover a 5 to 10-mile radius, dependent on city regulations.
With the above goals, we believe we can grow efficiently and sustainably in a post-COVID world, which will allow the company to succeed in the long run, and allow us to launch more machines in the future.
Why did we choose this strategy? Below are key events that happened this summer, and these events caused us to go this route:
1. COVID-19: Covid-19 shifted customer behavior to online/delivery services: This showed that companies would not succeed going forward without an online presence and smart delivery services.
2. Green Growth filing for bankruptcy: Green Growth brands was a force to reckon with in the CBD space but expanded too fast (launched over 100 kiosks in 6 months) and ended up bankrupt - even with a $45 million budget.
3. The Riots: The riots raised security concerns about launching single and isolated machines. Based on our risk assessment, we believe it will be better to focus on automated markets for this round as we test out new ways of launching individual machines.
For now, all investor communications will be done via monthly and quarterly email newsletters/updates.
At the start of Q1 2021, we plan on launching an investor portal on Chow420.com to streamline communication and help investors track our progress/numbers, stock value, valuation, and future rounds.