MassRoots Social Media App Surpasses 450,000 Users
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Posted On: 08/01/2015 6:48:48 PM
MassRoots Social Media App Surpasses 450,000 Users
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Richard Battle
July 31st, 2015
MassRoots Inc. (MSRT 1.15 27.78%), 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.
http://www.cannabisfn.com/massroots-social-me...000-users/
original link courtesy of Entendance
4kids
inShare
Richard Battle
July 31st, 2015
MassRoots Inc. (MSRT 1.15 27.78%), 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.
http://www.cannabisfn.com/massroots-social-me...000-users/
original link courtesy of Entendance
4kids
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