Snoop's venture firm, Casa Verde Capital, participated in a $10 million funding round for Eaze, a fast-growing mobile app that’s looking to become the “Uber for pot,” reports NyPo.
The funding round was led by DCM Ventures, and also included Fresh VC and 500 Startups.
Eaze founder and CEO Keith McCarty declined to confirm whether thes rapper was backing his company, saying only that his “biggest reward is when prestigious investors complete their due diligence and choose to invest in our vision. It’s quite humbling, actually.”
This could prove to be a spectacular investment for Snoop. Once regulations are removed from a sector, and it thus becomes more libertarian, investment opportunities can often be extremely profitable. This occurred with Southwest Airlines and Atlantic City gaming related firms after suffocating regulations were removed in these sectors.
On a grand scale, much of the spectacular growth in China has occurred since the removal of Maoist chains (though some of the growth is distorted Chinese central bank money printing growth.)
-RW
Kind of reminds me of how Joseph Kennedy was accused of bootlegging during Prohibition but (apparently) simply knew the writing was on the wall and set up his liquor distribution business with perfect timing for when prohibition finally ended. I'm remembering this from the interesting book "Last Call: The Rise and Fall of Prohibition"
ReplyDelete"Snoop Dogg, now known as Snoop Lion, "
ReplyDeleteOh, a rebranding campaign like the way Food Town became Food Lion, I get it. Ain't Snoop's real name Calvin Broadus? I wonder how these guys feel when their cool stage name gets old and tired and they wish they could just go back to their old useta be? It must be sad. Looks like it was sad enough to drive Snoop to smoking indo and sippin' on gin'n'juice.