WeedMaps Acquires Marijuana.com For A Kushy $4.20 Million
Summary
The company didn’t disclose the details of the deal, but we’ve confirmed that the acquisition price was $4.20 million. The executives involved obviously have a sense of humor, but General Cannabis is a serious business: it’s traded on the OTCQX market, and a year ago it acquired WeedMaps, a popular ‘Yelp for Cannabis Dispensaries‘ site with a large following. WeedMaps was topping $400,000 a month in revenues at the time of the acquisition and it’s growing nicely — the site did over $1 million in gross revenues in July, and now sees 10 million page views a month. The acquisition includes both the valuable Marijuana.com domain name and the existing site/content, which currently consists of a bulletin forum that centers on cannabis discussion and generates 3.5 million page views per month. WeedMaps Media, which is a subsidiary of General Cannabis, will be ‘bridging’ its membership database with the forum’s, allowing WeedMaps users to log into Marijuana.com with their existing accounts.