Canopy Growth: Not the Amazon or Google of Cannabis…Yet
As the cannabis industry has gone more mainstream, there have been numerous headlines about who will be the “Starbucks” or “Wal-Mart” or “Costco” or “Amazon” of cannabis. The biggest player in Canada, and internationally, Canopy Growth, isn’t the Amazon or Google of cannabis…yet, but the company hopes to be, as reported by CNBC:
Canopy Growth CEO Bruce Linton told CNBC Friday the cannabis company is well ahead of its rivals in becoming the leading brand in legal marijuana but still needs to improve.
“When I need to find information, I use Google. When I think about web services, I use Amazon,” said Linton, whose Canada-based company has partnered with names such as Snoop Dogg and alcohol leader Constellation Brands.
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Linton said the team at Canopy Growth, Canada’s largest medical marijuana producer, is “very dissatisfied” but added the company is working hard each day to improve. “Maybe that mentality is what’s got us ahead of the pact,” he added.
Buoyed by the multi-billion dollar investment from alcohol giant Constellation Brands, a partnership that Linton called “rocket fuel” for his company, Canopy has seen its stock increase and the news has been good for cannabis stocks across the board recently. While it is to be seen if Canopy will indeed dominate the market like Amazon or Google, it is easy to see that the future looks bright for the company as the October 17th legalization day approaches for Canada and the customer base expands to all adults living and traveling in the Great White North.
The International Cannabis Business Conference was so pleased to work with Canopy Growth’s collaborative partner, Canopy Rivers, to help award a Canadian licensee at our recent ICBC in Vancouver, that we are awarding a craft cannabis business the opportunity to pitch their company to a room full of investors at the upcoming ICBC Portland this September 27th-28th. The company with the best pitch will walk away with a $10,000 award, with absolutely no strings attached. Please share the ICBC Mom and Pop Pitch application and join us by purchasing your “early bird” tickets by September 12th to save $200.
