Business

Eaze captures Green Dragon

By Alex Halperin
Aug 19, 2021

Bay Area-based app Eaze is set to become the country’s largest delivery service after announcing it will acquire Green Dragon, a Colorado retailer which also operates in Florida. Deal terms were not disclosed.
TechCrunch

  • The deal marks a remarkable turnaround for Eaze, which is becoming a significant national player after almost running out of cash before the pandemic.
  • The company also got a boost several weeks ago when Apple opened the iPhone app store to shoppable cannabis apps.

In his newsletter Highly Objective, Dai Truong has a thorough analysis of the deal, which he calls a “big swing.”

  • With Green Dragon’s growing position in Florida’s MED market, it gives Eaze a chance to compete hard against Trulieve, the market leader, where only 4% of sales are delivery.
  • Eaze should also be able to quickly win market share in Colorado, which only started to allow delivery weeks ago.
  • The combined company will compete for top 10 revenue status, among MSOs.

Related:

  • Leafly is suing Florida to resume handling pre-orders for operators through its e-commerce platform. In the suit, it argues that it “is not involved in the purchase, sale or storage of marijuana.”  
    Orlando Weekly 
  • While many pot shops still don’t have bank accounts, investment banks are cashing in on cannabiz M&A.
    Insider