LOS ANGELES, Sept. 21, 2018 /PRNewswire/ -- MassRoots, Inc. ("MassRoots" or the "Company") (OTCQB:MSRT), one of the leading technology platforms for the regulated cannabis industry, is pleased to announce it is expanding its paid offerings to licensed dispensaries in the Californian market to enable them to more effectively offer time-limited deals to consumers. According to New Frontier Financial, the regulated cannabis market in California is one of the largest and most rapidly growing in the world, estimated to generate $3.09 billion in cannabis sales by 2020.
While MassRoots is focused on growing its paid client-base of dispensaries in the California and Colorado markets, as a technology platform, the Company has the ability to generate revenue in any country or state with a regulated cannabis market. As such, MassRoots' business model offers direct exposure to the U.S. regulated cannabis market without ever touching the plant itself.
"We believe providing the roughly 2,500 regulated dispensaries with the technology they need to grow their businesses presents MassRoots with an opportunity to create significant shareholder value," stated Isaac Dietrich, MassRoots' Chief Executive Officer. "We believe our paid dispensary offerings have the potential to grow foot-traffic and revenues at dispensaries across the United States, and we look forward to introducing these dispensaries to our platform including our new deals listing service."
In order to accelerate the growth of paid subscriptions to its platform, MassRoots is expanding the size of its sales team from 5 to 10 full-time employees who will focus on the Los Angeles, San Francisco and Denver markets.
About MassRoots MassRoots, Inc. is one of the leading technology platforms for the regulated cannabis industry. Powered by more than one million registered users, the Company's mobile apps empower consumers to make educated cannabis purchasing decisions through community-driven reviews. With a significant market share of medical cannabis patients in certain markets and more than 35,000 shareholders, the Company believes it is uniquely positioned to best serve the needs of the cannabis industry. For more information, please visit www.MassRoots.com/Investors and review MassRoots' filings with the U.S. Securities and Exchange Commission.
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