Is Google going to be the next big player in the marijuana industry?
Posted on July 08 2016
Microsoft has recently reached out to some big players in the industry, with Los Angeles based Kind Financial partnering with the giant tech firm to offer seed-to-sale tracking systems for governments to help keep track of commerce in the new industry.
Now it looks like Google could be the next big company to scout out opportunities in the sector. LivWell Enlightened Health, one of the largest marijuana retail chains in the country has recently announced that Google has approached them to see how the company could help serve the industry.
A LivWell spokesman confirmed the Google contact in a subsequent email to Marijuana Business Daily.
“I can confirm that Google did reach out and ask if we would be interested in speaking with them about the industry’s needs and how Google could potentially work with us to address them,” Matthew Givner, a LivWell spokesman, wrote in an email. “Beyond that there has been no communication.”
Google hasn’t responded to request for comment, and it’s unclear at this point whether they’ve also contacted other ‘cannabusinesses’ or why it’s decided that now is the time to get involved in industries that many large companies have avoided doing business with up to this point in time.
LivWell is also an exception to the rule that so far that other companies such as Microsoft and Arrow Electronics have only dealt with companies that don’t ‘touch’ the product.
“Any time a gigantic corporation gets involved with a company that touches, that’s phenomenal,” California-based industry consultant Avis Bulbulyan said. “The more companies, the bigger the companies, the better it is for the industry.”
Google entering the industry may help make other large tech companies such as Facebook and Instagram work with people in the cannabis industry. They have both shut down cannabis related accounts in the past, and haven’t shown much interest so far in changing their policies.
Google’s vast advertising network may help cannabis businesses that want to target their services at certain individuals.
What’s sure is that a company like Google working with the industry is just another sign that the industry is going from strength to strength.