Meadow is popular in California as a delivery site mainly, but they’ve recently set their eyes on a new market with a huge demand. The state of sales software for marijuana dispensaries is pitiful and virtually non-existent. This is due to the strict industry standards that prevent these companies from using traditional sales software, such as buying limits. In the wake of this demand, Meadow plans on researching software that these dispensaries can use.
Meadow began as an online site in San Francisco that showed dispensaries in the user’s area that delivered and then allowed them to place their orders through them. This business allowed customers to track their delivery progress, and offered reliable timelines on when the order would be delivered. David Hua, co-founder, said this of the deliveries in San Francisco before Meadow, “they’d say they’d come in 2 to 4 hours, or on ‘friday afternoon’ and you’re just sitting and waiting.” In time, their services grew to include the option to set up an appointment with a doctor to get a prescription, and now they offer a video prescription service that allows people to get prescribed online and then place an order shortly after. Now Meadow is looking to shift some attention towards the sales software game, and they’ve already got a decent start. They offer a point-of-sale software for iPads that tracks how much marijuana gets sold to each customer, in order to stay compliant with state law. Meadow’s next step involves expanding the SAAS program they offer to dispensaries for a monthly fee. They’re planning to make new software that will help with financial management, payroll, and other features tied to running a business.
It’s what we need, to get to where we want to with each check point…
Now Meadow can pursue its research and development of such software, thanks to a 2.1 million investment from tech leaders, such as Reddit CEO Steve Huffman and some former Facebook employees, among others. Hua is more than pleased at the amount invested, “it’s what we need, for what we wanted. If I got $10 million today I wouldn’t know what to do with it. It’s what we need to get to where we want to with each checkpoint we want to hit.”
What this investment shows is that big business is slowly starting to recognize that there’s money to be made in the cannabis industry and more importantly, they’re seeing the money that can be made just by providing secondary services to the dispensaries. One sentiment I commonly read about Meadow was the re-iteration that they don’t actually sell marijuana as a company; they’re basically a middle-man. Now they’re providing more services to dispensaries and proving that there are profits to be made in the market-place outside of sales. This is an example of how creating a new market-place leads to secondary jobs suited to the needs of that industry. So in turn, legalization and regulation will almost certainly lead to job growth and a booming new market, and companies like Meadow are doing their part to make it happen.