The name “Benchmark Capital” might ring the bell among those who have interest in tech companies. This Silicon Valley based firm has launched tech companies like Twitter, Uber, Snapchat, Instagram, etc. now the company has set its eyes on the marijuana industry. As the recent news, “Benchmark recently invested $8 million in Hound Labs, a startup here in Oakland that’s developing a device for drivers — and law enforcement — to test whether they’re too buzzed to take the wheel.”
It is just the beginning, several other big companies are stepping in the market to earn more and more from the legalization by offering products which are made with the help of marijuana or other similar kind. New products like, “cannabis-infused skin patches; new methods for vaporizing and inhaling; and “budtender” apps like PotBot, which promises to scour 750 strains of cannabis and use lab research, including DNA analysis of each strain, to help customers find the perfect match.” Be it bubble gum cannabis oil or to buy kush online, the process is definitely going to easy with so many big names in the market.
Last but not the least, “Among the noted investors: tech and biotech mogul Peter Thiel, who co-founded PayPal and made a fortune with the cancer drug startup Stemcentrx. Thiel contributed $300,000 to the California ballot campaign that paved the way for legalization. And in the first public endorsement of the industry from a major biotech investor, Thiel’s Founders Fund has sent millions to Privateer Holdings, a Seattle private equity firm that backs research into medical marijuana products, among other cannabis-related ventures.”
Who would have thought that these big players of the market will also come forward to support the products like marijuana and will make it available for everyone in the state for now, may be in future for the world too.
Comments
Post a Comment