Cannabis Law Group's Medical Marijuana Legal Blog
Big Cannabis Businesses See Big Tech Deals
The legalization of recreational marijuana sales in California has created many business opportunities for other industries in the cannabis market. Joint ventures, cross-promotions, marketing tie-ins, and hybrid products are all hitting the market as the nation’s largest marijuana market becomes legal. The technology sector, in particular, is capitalizing on this vast and untapped market.
The Many Ways Tech Companies Are Entering the Marijuana Compliance Market
There are many different ways for technology companies to enter the marijuana market. According to Business Insider, one cannabis-centered social media platform (MassRoots) obtained a subscription service for access to cannabis regulations (CannaRegs). The $12 million stock deal will create a “one-stop shop” for MassRoots users. Now, business owners will be able to ensure they and their customers are in compliance with all federal, state and local regulations. MassRoots found CannaRegs to be a particularly valuable acquisition due to its majority of female leadership, and also its financial status as being cash flow positive and debt-free. It was also determined to be highly necessary in today’s regulation-centric cannabis market. Continue reading