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 (opens in new tab), MassRoots (opens in new tab), 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 (opens in new tab), 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 (opens in new tab): "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. (opens in new tab)
It Is Now Legal to Smoke Weed Recreationally in Alaska (opens in new tab)
7 Things That Happen to Your Body When You Smoke Pot (opens in new tab)
A New Study Finds That Marijuana May Help Treat Depression (opens in new tab)
-
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 With
AirPods beanies? Say less.
-
This Pet Food Dispenser Is a Game-Changer for My Pet
The futuristic-looking Petlibro Granary makes me feel so much less guilty being away from my dog.
-
The Privacy Whisperers
You'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 IRL
Who's up for a virtual game night?
