The cannabis social media network MassRoots, one of the leading cannabis-related websites, announced on Thursday that it had acquired the online cannabis business registry Whaxy.
The deal between MassRoots and Whaxy, both of which are Denver-based, was announced in a Thursday press release.
MassRoots reportedly agreed to pay Whaxy $100,000 cash, plus provide 2,926,830 shares in the company. Whaxy, which launched in May of this year, provides an online inventory management system for cannabis businesses, as well as a platform from which the businesses may purchase merchandise.
The CEO of MassRoots, Isaac Dietrich, made clear the intended scope of the merger.
This acquisition, when completed, will expand MassRoots’ offerings to include a full suite of dispensary software solutions – online ordering, marketing, and real-time inventory management – for cannabis businesses…
Over the next few months, our main focus will be increasing the number of dispensaries utilizing the MassRoots/Whaxy platform.
He also went on to praise Micah Davidson, Whaxy’s CTO, as having build “one of the best technology platforms on the market.”
Zach Marburger, Whaxy’s founder and CEO, also expressed his approval.
We could not be more excited to be joining forces with MassRoots… The synergies between our two companies are strong and together, we’re building a cannabis technology powerhouse.