Y Combinator Invests In Medical Marijuana Delivery App
Investor dollars are flooding into the marijuana industry at a rapid pace. This was occurring prior to high profile investor Peter Thiel’s company, Founders Fund, investing in the industry. But after the Founders Fund investment, investments have increased even further. The latest high profile company to make an investment is Y Combinator. Per Marijuana Business Daily:
Y Combinator (YC) – a business accelerator that helped get Reddit, Airbnb and Dropbox off the ground – has invested in San Francisco-based Meadow, which offers a cannabis delivery app that connects patients and dispensaries.
Meadow also recently launched CannabisMD, where patients can schedule house calls by specialized physicians allowed to prescribe marijuana.
While terms of the deal weren’t disclosed, YC says on its website that a “standard deal” involves investing $120,000 for 7% ownership, though it does deviate from that in “exceptional cases.”
It wasn’t that long ago that established investors were taking a ‘wait and see’ approach to the industry. Those days are obviously gone now. Marijuana is mainstream, and just about everyone wants in on the next great American industry. The marijuana industry is the fastest growing industry in America, and there are so many business opportunities it’s nearly impossible to count them all.