MassRoots – The Finish of a Cannabis Era and a Significant Error, Certainly.
The rough and tumble days of the early cannabis Online space were dominated by a couple of yellow beards of yesterday like Higher Occasions and the Stoner’s Cookbook, but the 1st particular person to plant a flag on the Online and raise dollars was Isaac Dietrich of Massroots. Massroots was his brainchild, and according to most records, Massroots raised more than $20mil (more than $7mil of that from the ArcView Investing Group) to make the “Facebook of Weed”. The stock price tag has fallen to $.0031 cents and their last official press release was in September.
It seems now that Massroots has known as it a day and closed up shop, which could be a issue considering the fact that they are a publicly traded corporation with stock symbol MSRT. Although their social media channels have remained active the web-site has now been down for more than three weeks and Google has begun to take away all listings that lead to an error or non-connected web page. When you are basically de-indexed from Google, you are accomplished. Google likes and trust you to a point, but when you take away all content material hyperlinks from their webpages and Google search shows customers an error web page for your hyperlinks, they do not take kindly to your domain if you place it back up at a later date. They have a equivalent “fool me when shame on you, fool me twice, shame on me mentality.” All efforts to make contact with Massroots and Isaac have fallen on deaf ears.
We noticed a massive influx of new signups on our WeedFeed social network at Cannabis.net that have been mentioning the phrases “Massroots is closed, searching for a new family” “Massroots apps is accomplished, I am checking you guys out.” There a couple of social networks standing and by downloads of the app we are 1 of the biggest, so we are acquiring their customers now for cost-free.
The Facebook of Weed Marijuana Social Network Goes Viral from CannabisNet on Vimeo.
The rumor earlier this year was that their key monetary backer, ArcView, had ultimately gotten tired of throwing great dollars just after terrible, and walked away from their Massroots assistance. This could have been the death blow to a struggling notion.
Exactly where did Massroots go incorrect?
A single, was there a require for a stand-alone cannabis social network? Although Facebook does restrict attain and shut some pages down, there are a lot of active cannabis pages and groups on Facebook. The notion behind Massroots was to make THE cannabis social network, get millions of customers, and then monetize that information and these eyeballs in the ideal way you can. Not only does Facebook have an active weed scene, but LinkedIn, Instagram, and Snapchat, whilst restricting cannabis, permit for active pages. Therefore, customers could remain on their key channels and speak weed and not be concerned as well significantly. As cannabis legalization grew in acceptance, the require for a singular cannabis social network faded, it was no longer taboo, or needed to be hidden.
Two, Massroots failed to pivot to a financially prosperous model, taking swings at blockchain when it was all the rage, and even attempting to tie up with a legal solutions company in the cannabis space. The web cannabis space is a difficult space proper now as it is illegal to sell cannabis devoid of a license and you can not ship THC across a state line or use the post workplace. This eliminates the key benefits a web-site with a massive quantity of customers would have more than a land-primarily based retail shop. When the cannabis plant is descheduled or the Federal law is changed, then it will be the internet sites that rule the planet, significantly like Amazon and brick and mortar retail.
The largest error Massroots is creating now?
Not promoting, even for pennies on the dollar, is a significant error proper now. When the content material is delisted in Google, it is fundamentally worthless as they will in no way get the domain authority or search placement back. The strongest asset they have is a massive database, an app, and social media channels. Get the web-site back up and then place the assets up for sale, even in bankruptcy.
The assets are losing worth by the day and the CEO has a fiduciary duty to get the most worth back to shareholders he can, even in a bleak circumstance. Just to let the web-site go down and to quit publishing content material is opening your self up to shareholder lawsuits and liability. If you did the ideal you could and got $.02 back on the dollar, oh properly, if you just turned it off and walked away, that is negligence to shareholders.
Exactly where will the story finish? Additional facts will have to come out in the future due to the fact Massroots is a public corporation and particular types and explainations should be provided for legal purposes. Will Isaac place the web-site back up in time and merge or sell the web-site to a competitor? According to router tables and monitoring solutions, it could be as well late, as Massroots is no longer ranked as a US web-site or active web-site as of now.
Purchaser beware, do your analysis.
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