Cannabis Business Named Runner-Up in Tech Competition

Maybe TechCrunch doesn’t have anything against marijuana companies after all.

The tech industry website, which regularly hosts events for fledgling firms, named cannabis-related software company Green Bits as a runner-up in its Startup Battlefield competition in San Francisco. That’s no small feat, given that a thousand companies applied for a spot in the mainstream tech contest.

TechCrunch previously rejected MassRoots, the popular cannabis-themed social networking app, for a place in the competition, saying its user base isn’t significant enough. Executives with MassRoots felt that their  company’s close association with cannabis culture played a role in the decision.

Green Bits produces a point-of-sale software system that allows marijuana retailers to track inventory and sales in order to remain compliant with local and state regulations.