- Posted by Trevor Weitzel
- On November 1, 2017
- 1 Comments
If you’re a small business owner in the marijuana industry, you’re probably familiar with two popular resources: MassRoots and CannaRegs. Both of these companies have worked to provide dispensary owners with helpful information about local issues regarding their businesses. Now, MassRoots has announced that they will be acquiring CannaRegs for an impressive $12 million, hoping to provide an even greater service to owners all in one place.
About the Companies
MassRoots was first introduced as a social media platform specifically for marijuana patients. It allows users to search, explore and recommend their favorite marijuana products with others. It was also a great way for marijuana business owners to hear from their customers and network with one another. Most importantly, it served as a major news platform for all things marijuana-related, including new legislation.
CannaRegs was created in 2014 as a centralized tracking service for all marijuana legislation in the United States from the federal government down to local regulations. For a subscription fee, business owners could use this tool to keep track of changes in their local regulations and ensure compliance on their part. The service has contributed significantly to the success of many businesses in meeting local regulations that have shifted and changed numerous times in a few short years.
Why the Acquisition?
The goal of the acquisition is to allow MassRoots to serve as a centralized resource for all marijuana-related news and resources. Now, dispensary owners can turn to MassRoots as a source of information about current legislation, as well as to discuss pending legislation in their communities and conduct outreach to new customers.
This news comes after a slew of other acquisitions by MassRoots, including those of Whaxy and Odava. All together, their new platform will be able to offer online menu management, point-of-sale services, legal compliance data and more.
For marijuana business owners, MassRoots stands as one of the best tools for managing a wide variety of tasks. Any business that previously subscribed to the CannaRegs service can expect to see changes coming in the near future as the service is integrated with MassRoots’ own system.
Many owners are excited to see what comes next for the social platform as it develops into a professional service that addresses a wider range of issues for those on the retail and growing side of things.