Ancillary Marijuana Companies

Marijuana startup lands $17 million from Tiger Global, Snoop Dogg

Green Bits, a compliance software developer for the cannabis industry, has landed a $17 million investment led by New York-based Tiger Global. Tiger Global’s stake in Green Bits marks a big win for the growing startup. Tiger’s investment portfolio boasts a who’s-who of startups turned giants, including Facebook, Amazon and Netflix. It’s also a signal […]

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Stock-based compensation drives up MassRoots’ red ink to $44M in 2017

Turmoil-plagued marijuana tech company MassRoots suffered a $44.3 million loss in 2017, a large portion of which can be attributed to $22 million in stock-based compensation the company handed out during the year. Losses in 2016 totaled $18 million. The Denver-based company’s annual report, filed Tuesday with the U.S. Securities and Exchange Commission, also revealed the […]

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Scotts to buy hydroponic distributor for $450M, boosting cannabis reach

Scotts Miracle-Gro said it agreed to buy the nation’s largest hydroponic distributor for $450 million, a deal that will bolster the U.S. lawn and garden care giant’s position in the ancillary cannabis business. Scotts said the purchase of Vancouver, Washington-based Sunlight Supply will boost the ability of its marijuana-related subsidiary, Hawthorne Gardening, to serve the hydroponic […]

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Week in Review: Maine’s rec cannabis progress, John Boehner’s reversal & tech giant’s MJ interest

Maine moves a step closer to rolling out recreational marijuana, former U.S. House Speaker John Boehner does an about-face on MJ legalization, and Hewlett-Packard becomes the latest big corporation to enter the cannabis industry. Here’s a closer look at some notable developments in the marijuana industry over the past week. All but done, finally Nearly […]

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Expanding after launch: Q&A with Van der Pop’s April Pride

April Pride originally wanted to sell “beautiful products” for storing and sharing marijuana. She launched her Seattle-based company, Van der Pop, in January 2016 with the aim of putting together a cannabis paraphernalia business. But she quickly pivoted to a female-focused lifestyle brand. Van der Pop’s website offers women: Marijuana-related advice. An online store selling […]

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Tech giant Hewlett-Packard teams with cannabis software firm Flowhub

Technology giant Hewlett-Packard is partnering with a marijuana compliance software company, becoming the latest mainstream company to dip its toe in the cannabis industry. The Palo Alto, California, technology company will preinstall cannabis point-of-sale and compliance software from Flowhub on its own POS terminals, known as HPElitePOS. The two companies said in a news release […]

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Cannex buys US marijuana firm Jetty Extracts for up to $30 million

Vancouver, Canada-based Cannex agreed to purchase California infused products company Jetty Extracts in a deal worth up to $30 million, becoming the latest marijuana-related acquisition in the United States with such a price tag. In late March, Las Vegas-based GB Sciences signed a letter of intent to purchase NevadaPure’s Las Vegas operation for $33 million. NevadaPure […]

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Kush Bottles acquires cannabis extraction supply company

One of the larger ancillary U.S. cannabis companies announced Tuesday that it just got even bigger. California-based Kush Bottles revealed in a news release that it acquired Colorado-based Summit Innovations, a purveyor of hydrocarbon gas used by marijuana extract producers, through a merger agreement. “Integrating this broad gas portfolio into our large distribution platform will […]

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Senators take aim at homegrown cannabis in Canadian legalization bill

Conservative senators are taking issue with a provision of Canada’s marijuana legalization bill that allows recreational cannabis to be grown in residences, with some calling for the measure to be purged from the pending law. Removing the homegrown-cannabis provision would be a blow to companies gearing up to capitalize on the niche market – from sales […]

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High Times acquires cannabis news site

Hoping to expand its online presence, High Times magazine has acquired a 3-year-old marijuana news website. The iconic cannabis culture magazine acquired Green Rush Daily, a website that receives more than 4 million unique monthly visitors, according to a news release. Terms of the acquisition were not released. Green Rush Daily will continue to operate […]

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Wine-related firms look to uncork opportunities in marijuana

A growing number of companies that service the wine industry are now pursuing opportunities in the cannabis sector, hoping to generate new revenue streams. For marijuana businesses, that means a host of potential new ancillary companies to choose from, as well as added legitimacy from an industry that once appeared to be a potential enemy. […]

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