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Facebookers, Reddit CEO make $2.1 million marijuana investment

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Submitted by Marijuana News on Thu, 04/07/2016 - 08:45

A hot San Francisco marijuana startup, Meadow, has announced millions in funding from an eclectic local group of investors with connections to Facebook, Reddit and the 49ers.

SOMA tech company Meadow announced this morning it has received $2.1 million in seed funding today from a collection of investors including former Facebookers now at Slow Ventures, Reddit’s CEO and founder Steve Huffman, Joe Montana’s investment fund Liquid 2 Ventures, and Justin Kan, creator of Justin.TV and Twitch.

The deal comes amid a torrent of new investments in the cannabis space. CB Insights reports about $215.2 million in venture capital flowed into the marijuana industry in 2015. Thirty-five states have medical marijuana laws, and four states and Washington D.C. have adult use legalization. The legal cannabis industry could grow to $44 billion in economic impact by 2020, analysts have estimated.

SOMA-based Meadow has focused on powering online deliveries and dispatch for California...

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