Snoop Dogg Invests In Eaze: Uber For Marijuana
Snoop Dogg and marijuana go hand in hand like “Gin and Juice”, so it comes as no surprise that the former gangster rapper has taken put it a fundraising round for Eaze, a weed delivery service.
The fast rising startup known as the “Uber for pot” splashed onto the scene in late July with coverage on Jimmy Kimmel Live and has since gone on to make over 30,000 deliveries of medical marijuana.
Eaze was able to raise $10 million thanks to the backing from Snoop’s venture firm, Casa Verde Capital and a few other major investors such as DCM Ventures, Fresh VC and 500 Startups. The company stated the money will be used to scale the team and platform in order to accommodate for the rapid changes to marijuana laws around the country
There is no word as to if Snoop Dogg’s investment includes promotion to Snoop’s 12.1 million Twitter but Eaze CEO Keith McCarty says the “biggest reward is when prestigious investors complete their due diligence and choose to invest in our vision. It’s quite humbling, actually.”
Though marijuana is being legalized many investors are quite weary of getting behind weed startups. Kyle Lui, a member of DCM thinks many people are missing out, “the regulatory environment and public sentiment a couple of years ago was quite different than what it is today. We think the market for legal cannabis will continue to grow very rapidly.”
It will be interesting to see how things work out for Eaze, but one things is for certain, the value of the weed market is only continuing to grow with some estimating the market could grow to $100 billion. Who’s down to get high?