Snoop Dogg affiliated brands are seeing their biggest returns in 2021. For example, Dutchie’s valuation is at $3.75 billion, and Cannabinoid Technologies has seen comparable gains as well.
Snoop Dogg Doubles Dutchie Valuation
Snoop Dogg has had a huge influence in the cannabis industry since his start in 1992. For instance, the rapper, actor, and business man has rarely been seen without a joint or blunt in hand. Because of his career smoking cannabis, the companies instantly received some respect from his affiliation.
Seven months ago the e-commerce platform Dutchie received $200 million. Subsequently, they received $350 million in funding to total a valuation of $3.75 billion dollars.
Photo via Snoop Dogg’s Instagram
We believe cannabis is good for humanity, and we’re committed to doing our part to propel this remarkable industry forward based on that core belief. We are powering cannabis commerce through the products and support that we provide our dispensary partners.
Dutchie CEO and co-founder Ross Lipson via a press release
Dutchie isn’t the only Snoop Dogg-affiliated cannabis company with increase valuations in 2021. Similarly, Cannabinoid Technologies valued at $68 million after raising $23.4 million from investors.
About Dutchie
Oregon born brothers, Ross and Zach Lipson, founded Dutchie in 2017. The company facilitates legal cannabis orders via their e-commerce platform. And as a result, they employ 500 people across 40 different U.S. states and Canada. Above all, Ross believes that “cannabis presents opportunities for job creation, critical reforms, and opens up new revenues to support state and local economies and communities.”
Their technology includes e-commerce, point of sale and seamless payment solutions. In addition to 5,000 cannabis dispensaries across North America, Dutchie’s annual sales exceed $14 billion.
In short, Dutchie allows shoppers to search online for a nearby dispensary, browse products, place an order, and arrange its delivery. The company’s success is mainly due to the recent legalization of marijuana in the U.S., across multiple states.
