Whether medical or recreational, legal marijuana is spreading like wildfire across the country. So it's no surprise that businesses are attempting to cash in. One stoner-specific social network is even about to hit the stock market.
According to The Daily Beast, MassRoots, an app that is known as "Facebook for stoners," is going public, allowing anyone a chance to buy shares in their company. It's reportedly one of the first marijuana businesses to be publicly traded.
The stock will begin trading on April 9 under the ticker symbol MSRT. Though it must be said: They really missed an opportunity to start trading on 4/20.
MassRoots was dreamed up almost exactly two years ago, when co-founders Isaac Dietrich and Tyler Knight were smoking in a college apartment. They put tens of thousands of dollars on credit cards to get the business started, and it's now grown to have 275,000 regular users, all in states that have legalized medical cannabis.
On the app, you can share photos, connect with dispensaries, and chat with other smokers. They're aiming to get one million users, and have recently developed a version of their app for dispensaries.
MassRoots hit a stumbling block in November, though, when Apple banned it from the App Store, along with any other marijuana social networks. But in January, they encouraged users to send emails to Apple asking to reverse the ban—and it worked.
They now predict the cannabis industry could be a $10 billion business by 2018, if initiatives keep passing across the country to legalize the drug. And they think they'll have a business model strong enough to last—because even if weed becomes legal, you don't want everyone to see you using it. CEO Isaac Dietrich put it this way: "I don't want my mom to see a picture of me taking a bong rip every time she logs on to Facebook, you know?"
You should also check out:
Another Day, Another Marijuana Legalization: You Can Now Smoke Pot in Washington, D.C.
It Is Now Legal to Smoke Weed Recreationally in Alaska
-
Give Selena Gomez's 'Emilia Pérez' Coat the Oscar AlreadyThe symbolic costuming choice is also my winter wardrobe inspiration.
-
The True Story of Dolours and Marian Price Is Just As Harrowing As It Seems in 'Say Nothing'The new FX series is set in Ireland during The Troubles.
-
Why Did Drunk Elephant Recall Three of Its Best-Selling Skincare Products?Here's how to know if yours were compromised.
-
48 Last-Minute Father's Day Gifts to Scoop UpHe'll never even know you left it until now.
-
16 Gifts Any Music Lover Will Be Obsessed WithAirPods beanies? Say less.
-
This Pet Food Dispenser Is a Game-Changer for My PetThe futuristic-looking Petlibro Granary makes me feel so much less guilty being away from my dog.
-
The Privacy WhisperersYou've read about their companies in the news. Now, hear from the women behind data privacy at the tech industry's heaviest hitters—Facebook, Apple, Google, and more.
-
My Data Is Safe, Right?There are two parts to the online safety conversation: privacy and security. Our quiz will help determine whether you're good to go on both fronts.
-
Who Are Myka & James Stauffer, Who Face Controversy After "Rehoming" Son Huxley?YouTube star Myka Stauffer and her husband James are facing backlash for re-homing their young son, Huxley, who they adopted in 2017 and who has autism.
-
What Is "Houseparty," the App People Are Obsessed With In Quarantine?It's the opposite of social isolation...without leaving your couch.
-
Group Video Chat Apps to Download While You're Social Distancing IRLWho's up for a virtual game night?
