LeafLink

LeafLink is the online platform for sale of medical marijuana.

History

2017: Attraction of millions of dollars of investments

In November, 2017 the online platform for sale of medical LeafLink marijuana attracted $10 million investments for expansion of the business to the State of California where the authorities prepare the bill legalizing sale of recreational marijuana writes the Business Insider edition with reference to the CEO of the company Ryan Smith.

The LeafLink applications for different devices

The next round of financing was carried out by the London firm Nosara Capital, Casa Verde company (the venture investor whose interests are concentrated on auxiliary investments of early stages into the cannabis industries) and also Lerer Hippeau Ventures company which invested in such startups as Venmo, Casper and Warby Parker.

A large number of potential investors at a startup appeared after $3 million initial investments which LeafLink received in February, 2017.

The raised funds will be also used for an exit to new regions of the USA. LeafLink is present at 6 states, at the beginning of November of the 2017th the company appeared in Arizona after permission of online sales of medical marijuana. In total the company is going to place the products in drugstores of 10 states.

Ryan Smith became the first young entrepreneur in the field of medical marijuana who in 2016 was included in the list of the richest businessmen aged up to 30 years according to Forbes. He reported to the Business Insider edition that since 2016 turnover of LeafLink reached $186 million, the company cooperates with 400 brands, 1700 retailers, and the gross revenue of all sellers of the platform in November, 2017 made $16 million.

According to forecasts of the company, the volume of its orders will grow by 2018 to $500 million as more and more states legalize cannabis. LeafLink took about 90% of sales in two most developed markets in the industry of medical marijuana — Colorado and Washington. The company aims to increase a zone of the influence due to the profitable market of California where sales of recreational marijuana should begin on January 1, 2018.^[1]

Notes