A Game Changing Pot Company Revealed
Are you ready to: “Get Your Marijuana Delivered with Eaze.”
Maybe yes, maybe no. The real question is…
What exactly is Eaze?
Eaze is a San Francisco based business that hosts and services an online marketplace and technology platform that provides legal access to cannabis through delivery and streamlined shipping.
The company’s mission is to work with industry stakeholders to foster a sustainable, legal cannabis industry. To do this Eaze helps “retail and brand partners navigate new regulations and keep their products compliant while providing valuable consumer insights and trends to grow their businesses,” as noted on their website.
They company offers consumers delivery service in California, as well as CBD shipping to 40+ U.S. states.
Additionally, the company owns and operates Eaze Wellness, a health and wellness site focusing on marijuana based therapies and nutraceuticals.
The company was created back in 2014 and according to their website has so far delivered 2.2 million legal cannabis orders.
Eaze is also a big data company, often putting out reports showing what California cannabis consumers like in terms of strain types, mode of consumption, ages and other socio-economic information.
Eaze currently operates as a private company, but is in the process of closing a $65 million fundraising effort, lifting their current valuation to around $300 million.
The largest investor in Eaze to date is Netscape’s co-founder Jim Clark.
Other institutional investors include the venture capitalist firm DCM. DCM’s David Cheng was recently named one of Forbes 30 Under 30 venture capitalists.
As of their last reporting, Eaze’s cash burn was high, burning through $1 million a month, but this is due to their goodwill.
Eaze has decided to put $1 million towards “social equity efforts in the Bay Area cannabis industry,” an endeavor which included partnering with Hood Incubator, an Oakland nonprofit to support cannabis entrepreneurs of color.
As it stands Eaze looks to be a socially conscious company with diverse services and product offerings.
I’ll be watching them closely, and hopefully one day we can act on an IPO opportunity.
Now onto more industry news…
Ray’s Cannabis Corner
Earlier in the week I noted the pot industry needed a new major headline catalyst to bounce off recent support and surge again. I also alluded to the fact that I think this catalyst may have shown itself.
According to the New York Times:
“Gov. Andrew Cuomo of New York outlined his 2019 agenda, which included a push to legalize recreational marijuana…”
Experts say New York’s cannabis industry could be worth up to $1.7 billion dollars a year if Cuomo gets his way could be rolled out in months.
Experts say New York’s cannabis industry could be worth up to $1.7 billion dollars a year, and if Cuomo gets his way could be rolled out in months.
And that’s the type of headline worthy catalyst the space needs right now.
For Technology Profits Daily,
Chief Technology Expert, Technology Profits Daily