Dutchie: The Multibillion Dollar Company Poised To Become The Shopify Of Cannabis | Forbes
Dutchie: The Multibillion Dollar Company Poised To Become The Shopify Of Cannabis | Forbes
Backed by Howard Schultz, Kevin Durant and Snoop Dogg, Ross Lipson’s e-commerce platform claims more than 40% of the market and doubled its valuation last year to reach $3.8 billion. But as legalization spreads, its business could go up in smoke.
Excited by a way to invest in the cannabis industry—without directly investing in a still federally illegal drug—investors jumped in. Snoop Dogg’s venture firm, Casa Verde Capital, led a $3 million seed round in 2018. Two years later, Josh Kushner’s Thrive Capital, NBA star Kevin Durant’s fund and billionaire and former Starbucks CEO Howard Schultz bought in. In March 2021, Dutchie raised $200 million in a Series C, led by Tiger Global, which has backed companies such as Peloton, Roblox, Spotify and Juul. The investment made Dutchie a cannabis unicorn, valued at $1.7 billion.
Seven months later, in mid-October, Dutchie announced a new $350 million financing round, led by billionaire Daniel Sundheim’s D1 Capital Partners at a $3.8 billion valuation. It’s all based on potential. All told, Forbes estimates that Dutchie generated around $5 million in revenue in 2020 and around $45 million in 2021. Lipson would not comment on his company’s revenue.
Read the full story on Forbes: https://www.forbes.com/sites/willyakowicz/2022/01/06/dutchie-the-shopify-of-cannabis-ross-lipson/?sh=b5f0eee459cc
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Valuation does not equal money. 5 billion valuation does not mean 5 billion revenue.
interesting
I would need to read their annual report to see their numbers 5bn valuation doesn’t mean anything
Young ,white , male ….. not surprised.
cringe
U guys r the worst
Typical …..white men making money while brown men go to jail
Looking forward to the ipo👀👏🏾
No weed forbes
I’m interested in illuminated manuscripts
F stands for FUTURE. The good book says "do not turn backwards, go forward
but weedmpas does this… i wouldnt invest im out.
Dutchie? Hahaha, good joke
If you are on team X then you’re fired.
They seemed like gays.. is that true?
😮💨
Recently this just 76 years old republic of Indonesia government closed down the legalized road for global trade of cannabis farming from Indonesia to the world, hope will be open again soon.
Recently this just 76 years old republic of Indonesia government closed down the legalized road for global trade of cannabis farming from Indonesia to the world, hope will be open again soon.
AMAZING
Trash company….no offense
It’s to see 2 brothers making their dreams come true together
rg6tt5
vum.ngo
bullshit what a joke these guys are valuation 3.8 billion lmao those numbers can be so manipulated ,guys look like money groveling douche bags
My brother in law started working on a very similar software this Monday. He should have a beta live this weekend.
I prefer leafythings cause im still not buying legal weed till the regulations become more inclusive
Trying to be the middleman, make companies fights against each other, “offer” companies to have the word “featured” next to their ads, Uber style/Airbnb/MindbodyOnline/Amazon/FB style. FKTHEM!
They should be locked up 25 to life like they do to black people in America for working with Cannabis.
The problem is they indemnify themselves of being accountable when it comes to checking ID – anyone can and does easily pass off fake IDS because they don’t have the software when the driver pulls up. Also – they still carry cash?! And finally – the drivers are not representing the shops while they carry the cannabis. The drivers are not LIVE SCANNED – There’s no license from the store itself to declare the sale – Jo Blo driver is on his own when he gets pulled over for any violation with a bunch of drugs in his mums car. Lol 😂
Anyone can open a store on shopify and sell stuff and they are valued 81 billion and you a very nich market already valued at 5Billion, You better be making revenue worth atleast250 million ( 20x to revenue). for that valuation
Remarkable person reading this.. It’s going to get better; all it is a season of opportunity to grow and be better than before. Challenging times are meant to strengthen us, not to break us. Success doesn’t define to what happened to us; it is how we choose to deal with our circumstances. The more you grow and develop as an incredible person as you are, the more things will change for the better. Forgive more (for you), be grateful for even the smallest things (we have it way better than someone else), choose love over ego, choose humility over ego (humility is strength), and finally, invest into new skills so that your future self will thank you. Our lives will change forever the more we grow. Be thankful for the challenges for we know something greater is coming. Love you always – Nathalie ✨❤️