In a nondescript building in California’s Central Valley, a massive cannabis warehouse hums with activity, housing what is likely the largest collection of cannabis products in the state. The facility, owned by Nabis, is a crucial link in the legal cannabis supply chain, processing 30% of all legal cannabis sold in California. Despite the thousands of cannabis companies that have failed in the state, Nabis has thrived, earning around $100 million in revenue annually and boasting a rare feat in the industry – profitability.
Founded by two childhood friends and former software engineers, Vince Ning and Jun S. Lee, in 2018, Nabis started small, with the pair serving as co-CEOs and delivery drivers. Fast forward to today, and the company is processing a staggering $1 billion in cannabis products each year. The rapid growth has been surprising, even to its founders.
In an interview, Ning recalled the early days of the company, when some industry insiders were skeptical of Nabis’ sudden rise to prominence. “Even a couple of years ago,” Ning said, “people were like, ‘Who the hell is Nabis and why are we handing over all our stuff to them?’”
Despite the initial doubts, Nabis has established itself as a dominant force in the California cannabis market, shipping products to nearly every cannabis store in the state. The company’s success has also extended beyond California, with Nabis recently becoming the largest distributor in New York.
