MassRoots Social Media App Surpasses 450,000 Users
Richard Battle
July 31st, 2015
News, Top Story
[stockchart symbol=MSRT]
MassRoots Inc. [stockquote symbol=MSRT], one of the largest and fastest growing social networks for cannabis consumers, recently announced that it surpassed 450,000 users on its platform. The company believes that the number of users on its platform will directly correlate with the amount of advertising revenue that it can generate. In August, the firm expects to gross a half million users and start generating material revenue.
According to its website, the social media app has logged more than 140 million user interactions and has more than 500 dispensaries signed up as corporate partners. The company’s MassRoots for Business was launched in early March 2015 as a free online portal for dispensaries to schedule posts, view analytics, and gain insights into their followers. The company plans to augment the free plan with premium upgrades to generate revenue.
Competitors like WeedMaps and Leafly have used sponsored posts and similar revenue models to generate $25 million in annual revenue and $1 million estimated per month revenue, respectively, from cannabis-related technology businesses. With the cannabis industry poised to reach $10.2 billion in size if legalization initiatives succeed, according to ArcView Market Research, the company could have a substantial opportunity ahead.
These efforts could pay big dividends down the road given the high barriers to entry created by so-called network effects. With the ongoing growth in its user base, the value of these network effects is amplified moving forward.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Richard Battle
Mr. Battle has over a decade of experience in the financial markets as both a private investor and financial journalist.
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