A billboard advertising the marijuana delivery service Eaze in Los Angeles.Getty Image
Snoop Dogg-backed cannabis company Eaze is raising a new round of financing that’s expected to value it at $800 million — despite Google trying to kill the vibe on Wednesday, sources told The Post.
The San Francisco company is seeking $100 million in a fundraising bid that could value the pot delivery service at 140 percent more than the $300 million it was pegged at in November 2018, one source said.
The company raised a mere $65 million in that round, according to reports.
Two other sources confirmed that the latest fundraising round is underway, but declined to discuss how high it could take Eaze.
Company officials are seeking to light a fire under investors tied to its November move to start selling CBD hemp-based products, which don’t carry hallucinogenic side effects, in the 42 states where they are legal, one source said.
That is on top of its already hot, but unprofitable, on-demand pot delivery service in California and Portland, Ore.
Eaze is often called the “Uber of Weed” because it arranges deliveries between pot dispensaries and customers where it is legal.
Published: May 29, 2019
Founder & Interim Editor of L.A. Cannabis News