Snoop Dogg's $25 million WEED fund could help you grow your own cannabis company
Rapper Snoop Dogg is reportedly raising a $25 million fund to invest in weed-related internet start-up companies
Rapper Snoop Dogg is reportedly raising a $25 million fund to invest in weed-related internet start-up companies
Snoop Dogg is putting his money where his mouth is.
The US rapper knows how to run a vast array of business ventures. He also knows a fair bit about smoking weed.
So it doesn't come as much of a surprise that the the 43-year-old star is raising a $25 million investment fund to back web-based cannabis start-ups.
Thanks to the legalisation of marijuana in certain States, plenty of new companies are using the web to peddle their pot.
Weed companies such as Canary, Grassp and Eaze bill themselves as similar to ride-sharing service Uber by allowing customers to connect with dealers using their smartphones.
And what better ambassador than Snoop - who claims on Reddit that he's smoked 81 joints a day.
Snoop's also no stranger to technology investment, having joined several other celebrities to invest $50 million in Reddit itself last year.
Other celebrities are heavily into the tech investment game, notably Ashton Kutcher who has invested in companies like Airbnb and Flipboard.
According to TechCrunch , Snoop Dogg's fund won't have anything to do with the production of the cannabis but will focus on the technology involved with the legal side of the industry.
That's likely to mean a focus on digital-based delivery and distribution of the product. But either way, it's a good time for Snoop Dogg to get on board as the online marijuana trade is growing quickly.
"The cannabis industry is in its adolescence," said Dr Adam Winstock, a consultant psychiatrist and addiction medicine specialist at King's College London told Mirror Online.
"It's just been allowed out of the home and it's going to change dramatically," he said.
Snoop's representatives haven't made any comment about the reports.
http://www.mirror.co.uk/news/technology-science/technology/snoop-doggs-25-million-weed-5131320 09/02/2015
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