Tilman Spangenberg, CEO of WellNetIQ, announced the company's "hot pre-launch" phase to begin in October 2023, aiming to establish an optimal business model for sales partners. WellNetIQ operates as a multi-level marketing (MLM) venture in the nutritional supplement market, focusing on CBD products.
The company's product line, including IQ Power CBD oils and sprays, is manufactured by CannaCare. CannaCare itself is part of a larger entity, SynBiotic SE, a publicly listed German CBD specialist. Frank Otto is identified as the single largest shareholder in CannaCare and a significant investor in SynBiotic SE. This connection places Otto in a controlling position over both the product manufacturing and the MLM marketing arm, WellNetIQ.
Spangenberg brings a background in economics and business administration, holding a doctorate with a focus on strategic planning and corporate risk. His professional career, spanning from 2003, included roles in financial consulting and direct sales, as well as positions within the chemical and pharmaceutical manufacturing sectors. He joined WellNetIQ in October 2022.
Michael Oplesch is also named as a founder of WellNetIQ alongside Frank Otto. Otto’s investment in SynBiotic SE, which merged with CannaCare, signifies his confidence in the growing hemp product market. SynBiotic SE's press releases from August 2023 refer to WellNetIQ as a marketing subsidiary of CannaCare, further solidifying the corporate structure.
Currently, WellNetIQ's market presence appears concentrated in Austria. Website traffic data from April 2024 shows approximately 416 monthly visits originating entirely from Austria. The company offers several CBD oil products under the "IQ Power" branding. These include the IQ Power Mini at 275 mg CBD for 30 EUR, IQ Power Basic at 450 mg CBD for 45 EUR, IQ Power at 825 mg CBD for 86.25 EUR, and IQ Power Plus at 1500 mg CBD for 136.25 EUR. A 1500 mg broad-spectrum CBD oil spray, IQ Power Plus Spray, is also available for 140 EUR.
WellNetIQ markets a range of CBD supplements manufactured by Frank Otto's companies, CannaCare and SynBiotic SE. Product offerings include IQ Power Mini (275 mg CBD, 30 EUR), IQ Power Basic (450 mg CBD, 45 EUR), IQ Power (825 mg CBD, 86.25 EUR), and IQ Power Plus (1500 mg CBD, 136.25 EUR). An IQ Power Plus Spray (1500 mg broad spectrum CBD) is priced at 140 EUR.