Marijuana-app Eaze already has a head start on any major competitors with its medical-delivery service; now, an exclusive report from Marketwatch shows both the company’s sky-high aspirations — and the hurdles it will have to jump to reach a target of $1 billion in annual sales.
The report looks at an investor deck — the presentation companies make to potential investors as they seek additional funding — that Eaze officials are reportedly using as they shop for $25 million in additional funding to top the $24.5 million the company has received since 2014, Marketwatch reports.
Though Eaze already has a sizable delivery presence in California, some states where marijuana is fully legalized, like Colorado and Washington, have banned delivery services. Even in California, Eaze has had to tackle delivery costs as an important part of its business model; densely populated cities like San Francisco can offer low delivery costs, but sprawling communities like Orange County are more expensive to cover, Marketwatch reports.
Even as the company seeks to work with regulators on opening more markets to delivery, it’s hedging its bets: Marketwatch also reports that Eaze has launched its own line of vaporizers and is planning private-label cannabis strains.
Still the company’s revenues are moving in the right direction, more than doubling between 2015 and 2016, with another 100+% increase forecast for this year.
To read more about Eaze’s financial outlook, head over to Marketwatch.com.
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