Marijuana Blog

Pot Delivery Startup Raises Big Money in San Francisco

Category: News | Posted on Wed, April, 15th 2015 by THCFinder

People love convenience, and pot delivery services are filling those demand. Now those delivery businesses are getting some very green backing—in the form of multimillion-dollar investments.

Eaze, an on-demand pot delivery service, recently raised a cool $10 million thanks to a group of investors led by DCM Ventures, Fresh VC, 500 Startups and Snoop Dogg’s Casa Verde Capital.

Eaze, based in San Francisco, was one of the first pot companies to get support from institutional investors, who, up until now, have been reluctant to invest in the industry. Those days are coming to an end as all things marijuana are squeezing their way quietly into the mainstream. For example,DCM Ventures, based in Asia and California, is a $2.5 billion venture capital firm that invests in seed, early and mid-stage start-ups, usually in the tech industry. However, DCM was the first company to give seed money, pardon the pun, to Eaze when it started up last summer, with a $1.5 million investment.

“At the time we invested in the seed, we had a thesis the medical marijuana market would continue to grow…Things accelerated much faster than we had anticipated,” Kyle Lui, a principal at DCM, told Quartz. (*1)

Referred to as the “Uber for weed,” Eaze’s founder and CEO Keith McCarty, says the company works with “only the best” dispensaries and has narrowed products down to flowers, edibles, and concentrates, most commonly purchased by users. (*2)

McCarty added that since its launch, Eaze it has made more than 30,000 deliveries.



What strain are you smoking on today?

Category: Tokers | Posted on Tue, April, 14th 2015 by THCFinder


Marijuana Extract May Help Reduce Epilepsy Seizures

Category: Medical Marijuana | Posted on Tue, April, 14th 2015 by THCFinder

A medicine made from marijuana may provide some relief to people with severe epilepsy who don't get better after trying other treatments, according to a new study.


In the study, researchers examined 137 people, ranging in age from toddlers to adults, who all had severe epilepsy, a condition that causes seizures. The participants took an extract made from cannabis plants daily for 12 weeks, and during that time, the number of seizures they experienced fell by an average of 54 percent.


The researchers noted that the participants knew they were receiving the extract, and that the study did not include a comparison group of people with severe epilepsy who were not given the marijuana drug or who were given a placebo instead.


"While the findings are promising, more research is needed, such as randomized-controlled trials to help eliminate the possibility of a placebo effect," said study author Dr. Orrin Devinsky, director of New York University Langone Comprehensive Epilepsy Center.


The main ingredient in the drug the participants took was cannabidiol, a marijuana compound that does not have psychoactive properties. (The "high" feeling that marijuana produces comes from another compound in the plant, called THC.)


The people in the study had previously tried other treatments for their epilepsy, such as anti-epileptic drugs, diet changes, surgery and neurostimulation therapies, Devinsky said. In fact, "about one-third of patients with epilepsy do not respond to medications," he told Live Science. [11 Odd Facts About Marijuana]


There were 213 participants at the beginning of the study, but some dropped out of the study before reaching the 12-week mark, including 6 percent (12 people) who stopped taking the marijuana extract because of the drug's side effects. Overall, more than 10 percent of people in the study experienced side effects. Sleepiness occurred in 21 percent of the people, 17 percent experienced diarrhea and fatigue and 16 percent said their appetites decreased.


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MBank To Close All Marijuana Business Accounts

Category: News | Posted on Tue, April, 14th 2015 by THCFinder

marijuana cash industry bankingAnyone who has been involved in the marijuana industry knows that banking is extremely tough. For almost all marijuana businesses, having a bank account is not even an option. MBank has been trying very hard to become the ‘go to’ bank for marijuana businesses. A little while back MBank announced plans to expand into Colorado. After pressure from the feds, they decided to back off that expansion. Late last week, MBank announced that it would be closing all accounts for marijuana businesses, which is a huge blow to the industry. Per Marijuana Business Daily:

MBank, the small Oregon-based financial institution that has serviced the cannabis industry since last year, told Marijuana Business Daily that it will close all of its accounts with marijuana companies in the next two months.

Jef Baker, the CEO and president of MBank, said the cost and time spent on compliance is too much for the Gresham, Oregon-based community bank to handle. The company – which quickly became one of the largest banks serving the marijuana industry – has about 70 to 75 accounts with cannabis businesses, Baker said. Most of them are in Oregon, though a few are in Washington State.

“We just do not have the resources to manage the compliance necessary” to service the cannabis industry, he said. “This is not what we want to do, this is what we have to do. We got into this business to serve an underserved group and I wish we could still do that.”

The case of MBank highlights just how unworkable federal guidelines are when it comes to marijuana banking. For a long time the feds didn’t allow any type of marijuana banking. In recent years the feds have issued guidelines that were supposed to clear up some of the grey areas, but as the MBank situation illustrates, those guidelines just created more problems than they solved. We need true banking reform, otherwise the industry will never reach its full potential, and security and logistic concerns will remain.




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