General Cannabis Inc. (parent company of WeedMaps) announced they would be acquiring the Marijuana.com for the sum of $4.20 million. Obviously executives of both had a sense of humor and saw that as the only fitting number for such a transaction. General Cannabis which is traded on the OTCQX market acquired WeedMaps (a medical marijuana maps and review site) a year ago and whose revenues at the time were exceeding $400,000 a month. Since that time revenue and page views have grown quite substantially to about $1,000,000 in July and about 10 million page views a month.
The acquisition includes both the valuable Marijuana.com domain name and the existing site/content, which currently consists of a bulletin forum that centers on cannabis discussion and generates 3.5 million page views per month. WeedMaps Media, which is a subsidiary of General Cannabis, will be ‘bridging’ its membership database with the forums, allowing WeedMaps users to log into Marijuana.com with their existing accounts. The company says that it will also be expanding the amount of content and functionality available. The domain and site will be transferred early 2012.
Although this is a pretty expensive purchase for the company, its one that is going to pay off very well in the end mainly due to the fact that “Marijauna.com” is probably one of the easiest website names to remember. Also this is going to make it a one stop source for everything to do with Mary Jane including where to find it (in medical states), reviews for dispensaries, job postings, and of course the forums that holds invaluable information from stoners over the years.
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