With acquisition of CannaRegs, Massroots improves its cannabis technology service
With its recent purchase of CannaRegs, a cash-flow positive CA-based company which tracks changes in cannabis regulations and taxation in California, MassRoots (OTCQB:MSRT) strengthened its positioning as a leading national cannabis technology company.
In the past year, MassRoots bought Odava, a regulatory compliance company (in July 2017), and Whaxy, an on-line ordering and menu service (in December 2016). These two companies now comprise MassRoots Retail, providing cannabis businesses with a one-stop solution for delivering data-driven advertising and promotions to consumers, managing regulatory reporting to state agencies, and streamlining their supply chain management services.
The company plans to integrate their one million MassRoots users into the MassRoots Retail services, allowing consumers to view locally-offered product online, identify the best product via customer reviews, and order it from their mobile phone. It will also allow cannabis businesses to offer customer loyalty and deal programs to customers.
The company plans to expand into states that accept its current technology platform—Franwell’s METRIC system—used for reporting to state regulatory agencies. These include Colorado, Oregon and Alaska—and California in 2018. With over 1000 CA dispensaries that will need to report to state regulatory agencies, the state presents a huge new market for MassRoots. The company will have the technology in place to serve this market with minimal adaptations.
Five of MassRoots’ characteristics could make it well-positioned to succeed in this technology strategy:
– The third largest market share of mobile customers;
– A nationally-known brand name;
– One of the largest databases of value to cannabis businesses, allowing MassRoots to
understand, recommend and deliver high-performing products and strategies for
cannabis dispensaries;
– A top engineering team, capable of designed new products and services quickly;
– Strong access to capital to execute its strategies, with over 25,000 shareholders.
The market has not managed to sustain enthusiasm over the year for MassRoots’ long term strategy. A year ago, it traded at $.40, then rallied up to $1.00 toward the end of 2016, around the time of the Whaxy purchase. Since January 2017, it has slowly declined back to $.39 today.
Source: PR Newswire, DENVER, Sept. 6, 2017
With acquisition of CannaRegs, Massroots improves its cannabis technology service
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