Mark Cuban, Marc Benioff, Robert Downey Jr., Gwyneth Paltrow and Uber CEO Dara Khosrowshahi are investing in toilet paper – TechCrunch
Led by Greycroft Partners, a who’s who of celebrity investors, including Mark Cuban, Marc Benioff, Iron Man and Pepper Potts (er… Robert Downey Jr. and Gwyneth Paltrow), Uber’s chief executive Dara Khosrowshahi, Seattle Seahawks quarterback Russell Wilson, Ashton Kutcher and Guy Oseary’s Sound Ventures, and Code.org founder Hadi Partovi are investing $3 million into the new toilet paper brand Cloud Paper. They settled on toilet paper because of its massive contribution to deforestation, a key contributing factor to climate change. According to statistics provided by the company, 15% of deforestation is due to toilet paper production alone, and roughly 40,000 trees are cut down for U.S. consumers to wipe up (with toilet paper and paper towels. The company estimates that an average household could save more than 250 trees by switching to bamboo based toilet paper (ideally theirs). “We wanted Cloud Paper to be a force for good in the world,” said Watkins.