There Is A New Company That Will Be Just Like Uber But For Weed
A startup that delivers weed to the homes of medical marijuana patients is finally being recognized for its economic potential.
According to Quartz, Eaze has raised $10 million from a group of investment firms in its latest round of funding.
Among these investors is Casa Verde Capital, which is headed by Snoop Dogg. The West Coast rapper has been hailing marijuana's medical benefits long before the legalization trend began.
Headed by former Yammer employee, Keith McCarty, Eaze is based in San Francisco and is currently available in 35 cities, Yahoo news reports.
The app provides medical marijuana patients with menus from local dispensaries and has selections delivered to their doorsteps within 15 minutes.
Patients can get verified for service online in a matter of seconds, and it takes just a few clicks for an order to be placed.
The startup raised $1.5 million in November 2014, shortly after its birth, and claims to have made over 30,000 medical marijuana deliveries to legally verified customers since its launch.
DCM Ventures led the most recent round of funding and isn't at all hesitant about stating that Eaze's success depends on changes in state laws.
Kyle Lui, a principal at DCM, told Quartz,
In a lot of jurisdictions, Uber was breaking the law, Airbnb was breaking the law. I think being forward-thinking, you have to see where the world is going rather than where you currently are.
There are many other startups with very similar functions, but Eaze was the first, and its financial support is so far unrivaled.
It intends to hire 50 people in the next 50 days and expand all throughout California before eventually reaching other states.
Medical marijuana is legal in 20 states compared to the five where it is legal to buy marijuana for recreational means: Nevada, Colorado, Washington, Oregon and Arizona.
Eaze's announcement comes just days after Privateer Holdings raised $75 million in the largest-ever private round of funding for a legal marijuana business.
This is the Seattle-based startup that will soon market Bob Marley-branded marijuana and paraphernalia with the endorsement of the reggae legend's family.