Benzinga executives split off and take the cannabis media brand with them

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August 21 2025

Four executives from Detroit-based financial media organization Benzinga, including its founder Jason Raznick, have split from the company and acquired its cannabis arm to launch IgniteIt Inc.

The company launched Wednesday with Raznick serving as chair; brothers Patrick Lane, former executive vice president and creator of the Benzinga Cannabis Capital Conference, as CEO, and Elliot Lane, former senior vice president and head of Benzinga Cannabis, as president and chief revenue officer; and Javier Hasse, former manager director of Benzinga Cannabis, as the new company’s editorial director.

Raznick will remain a board member for Benzinga. 

IgniteIt is a media and events company that will offer editorial news coverage of the cannabis industry, as well as hosting live events with insiders and dealmakers. 

“IgniteIt is built on a proven foundation,” said Patrick Lane in a press release. “We’ve spent years cultivating relationships, trust, and impact in the cannabis space. With this new chapter, we’re doubling down on storytelling, advocacy, and high-quality business events that accelerate opportunity in cannabis and beyond.”

Patrick Lane declined to reveal the terms of the deal, but called the split amicable. 

As part of the deal, IgniteIt acquires Benzinga’s cannabis events, including the Cannabis Capital Conference, its daily cannabis newsletter and the archive of its cannabis editorial content. 

Patrick Lane told Crain’s that IgniteIt would regrow the former Benzinga Cannabis events that declined in recent years after the pandemic.

Benzinga, under Raznick, launched its Cannabis Capital Conference events in 2017 and held them across the country, including a popular event in Hollywood, Fla., annually. 

But COVID-19 curtailed events across the country and Benzinga sidelined some events coming out of the pandemic.  

Canadian private equity firm Beringer Capital acquired a majority stake in Benzinga in 2021.

“We’re not starting from zero,” Patrick Lane said. “We invested in these events. We know what they can do. We’re coming off a record year and look forward to scaling it under IgniteIt.” 

IgniteIt will hold three events before the end of 2025, Patrick Lane said, in California, Ohio and Washington, D.C.

The company is currently seeking new office space in metro Detroit and plans to hire editorial staff are underway.