">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Monday, January 25, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Tech

Tech and cannabis – a marriage with supersized profits

Milcah Lukhanyu by Milcah Lukhanyu
3 years ago
in Tech
9 min read
0

When profits are estimated to grow 700 percent by 2020, everyone wants in. According to numbers provided by The Hemp Business Journal, the cannabis market could grow to $2.1 billion in just a few years.

This huge leap in profits and market share is partly due to the role that tech has played in the research of cannabis. Along with the many ways that it can be marketed and its diverse properties appreciated. Cannabis, which contains THC and CBD, is being researched and studied for a huge range of benefits outside of the “high” it gives.

The tech industry is uniquely situated to help position cannabis products in a palatable way. As one article in Business Insider revealed, many tech execs are leaving Silicon Valley to invest in cannabis startups. That or to launch their own cannabis-related product.

Here are some of the ways that tech is supersizing cannabis growth.

  1. On-demand cannabis delivery, Eaze.

This startup is considered the Uber of cannabis products. Eaze helps marijuana patients get their cannabis products delivered right to their door. Consumers are used to using apps to make purchases, and Eaze taps into this vein. The founder of Eaze was one of the first employees of Yammer, a social network startup that was bought by Microsoft.

Making use of the desire for instant delivery and with the technology to provide it, Eaze has locked onto the ideal consumer audience. In a company report, figures showed that the majority of users were millennials at 57 percent. And 49 percent had an annual income of $75,000 or more.

READ  MasterCard Global Education Initiative Investing $500 Million To Educate Students In Africa

It is currently breaking records as the highest funded startup in tech history. In October 2016, they announced that they had closed $13 million in new funding, bringing their total funding to $25 million.

Related posts

Toshiba

Chrome Now Helps You Change Weak Passwords

January 23, 2021
0

Top 5 Skills That Modern Software Developers Need to Have

January 22, 2021
0

What Software Developers Need to Know About Burnout

January 22, 2021
0

Which is Better, Leasing or Purchasing Farm Equipment?

January 22, 2021
0
  1. The Amazon of cannabis, Meadow.

Meadow is looking like the Amazon of cannabis for sellers. Sellers who need powerful software tailored to the cannabis industry are choosing Meadow. And for good reason. Meadow provides an all in one system that includes delivery logistics, in store POS, inventory management, and much more. They also, very importantly keep track of patient records — to make sure those who they are selling to are legally allowed to make purchases.

The founder and CEO of Meadow, David Hua, won TechChrunch’s 2015 award for best bootstrapped startup. Meadow is often compared with Eaze. But they differ in fundamental ways. Meadow provides a sturdy backend for sellers, while Eaze has focused on its delivery service.

  1. Leafly, for cannabis reviews.

What actions do consumers make before purchasing a product? If your answer is “read reviews,” you would be right. In a survey by MarketingLand, 90 percent of respondents said decisions to purchase were influenced by online reviews. This understanding of today’s consumer is a foundational element of Leafly.

The review startup Leafly began as a side project for 3 individuals, Scott Vickers, Cy Scott, and Brian Wansolich, who were at the time working for Kelly Blue Book. Vickers’ interest in the project was initiated when his doctor recommended he use cannabis to help with his insomnia. All 3 wanted to build a site that appealed to the white-collar sector. By all measures, they have succeeded. Founded in 2010, Leafly is widely considered the world’s largest cannabis information provider in the world. The Leafly database contains reviews on every strain and that enters the scene. The write ups on each strain cover desirable effects and detailed strain information.

READ  Intelligent Infrastructure - 5 Ways to Utilize IT to Build a Better Business

Leafly also helps patients locate close by dispensaries, along with photos so that users can look before their first visit. It also offers how-to guides, info for the first-time cannabis user, and other industry news. It prides itself on being a one-stop resource for digging deep on the industry.

In Inc.’s round up for 2016, Leafly was listed as #76 overall, and #4 in the category Top Consumer Products and Services.

What else is on the horizon for tech companies to invest in the cannabis industry? There’s talk of a kiosk that will allow users to purchase cannabis while out on the town. Other startups are looking to create search engines that are beneficial to the cannabis user. Headset is a startup with the aim to bring big data to those in the cannabis industry. Other tech companies are focusing on inventing products that simplify cannabis consumption, such as the Firefly2. In the meantime, cannabis consulting services and other side businesses are springing up around this fast-growing industry.

Readers 1,946

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: Cannabis
Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Toshiba
Tech

Chrome Now Helps You Change Weak Passwords

January 23, 2021
0
Tech

Top 5 Skills That Modern Software Developers Need to Have

January 22, 2021
0
Tech

What Software Developers Need to Know About Burnout

January 22, 2021
0
Tech

Which is Better, Leasing or Purchasing Farm Equipment?

January 22, 2021
0
Tech

Three Kenyan teams excel at the Huawei ICT Competition Global Finals

January 22, 2021
0
Health

54gene launches a genome sequencing lab to track infectious and non-communicable diseases prevalent in Nigeria

January 22, 2021
0
Tech

Google’s Project Loon, solar-powered internet balloons discontinued

January 22, 2021
0
kplc
Tech

Kenya Power Rolls Out A Smart Metering Project Across The Country

January 21, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
Toshiba

Chrome Now Helps You Change Weak Passwords

January 23, 2021
Toshiba

Shoppable Ad Formats Are Coming Soon To Youtube

January 23, 2021

Hero MotoCorp Surpasses the Monumental 100M Cumulative Production Milestone

January 23, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: