The people
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About
Lift began in 2014 as a blog Tyler Sookochoff wrote to help medical cannabis patients navigate a market with almost no consumer information in it. A product review platform followed in 2015, and in 2016 the company ran the first professional cannabis expo held in Canada, in Toronto and Vancouver. Matei Olaru joined as COO in January 2016 and was CEO before the year was out. Under him the business ran on three legs — consumer reviews, market analytics sold to licensed producers, and the Lift & Co. Expo — and he described the strategy on the TechTO stage in October 2018 as building the trusted layer over an industry that had been prohibited for 95 years and therefore had no reliable information about itself. The company listed on the TSX Venture Exchange under LIFT on 17 September 2018. In 2020 the pandemic ended the events business: a potential equity investment in the events division collapsed, event cash flow stopped, and Lift & Co. Corp. filed for bankruptcy. Olaru left the company entirely.
Backers
Publicly listed from September 2018 (TSXV: LIFT) after raising about $14 million as a private company. The identities of those private investors were not confirmed here.
Quick answers
What was Lift & Co.?
A Canadian cannabis information company: consumer strain reviews, market analytics sold to licensed producers, and the Lift & Co. Expo. It did not sell cannabis itself.
What happened to Lift & Co.?
It filed for bankruptcy in 2020. A significant equity investment in its events division was being negotiated when the pandemic hit; that deal was abandoned and events revenue stopped.
Who ran Lift & Co.?
Tyler Sookochoff founded it in 2014. Matei Olaru joined as COO in January 2016, became CEO later that year, and led it through the TSXV listing in 2018.