General Cannabis Inc. has just announced that it’s acquired Marijuana.com. The company didn’t disclose the details of the deal, but we’ve confirmed that the acquisition price was $4.20 million.
Spotted at: TechCrunch
General Cannabis is a serious business: it’s traded on the OTCQX market, and a year ago it acquired WeedMaps, a popular ‘Yelp for Cannabis Dispensaries‘ site with a large following. WeedMaps was topping $400,000 a month in revenues at the time of the acquisition and it’s growing nicely — the site did over $1 million in gross revenues in July, and now sees 10 million page views a month.
The acquisition includes both the valuable Marijuana.com domain name and the existing site/content, which currently consists of a bulletin forum that centers on cannabis discussion and generates 3.5 million page views per month. WeedMaps Media, which is a subsidiary of General Cannabis, will be ‘bridging’ its membership database with the forum’s, allowing WeedMaps users to log into Marijuana.com with their existing accounts. The company says that it will also be expanding the amount of content and functionality available. The domain and site will be transfered early in 2012.
It’s obviously a pricey acquisition, but one that will likely pay dividends. Marijuana.com is much easier to remember than General Cannabis or WeedMaps.com, and the company is positioning itself as the go-to place for information that’s relevant to cannabis users.