Weedmaps Goes Public In 1.5 Billion Merger

[Stones]

https://www.zerohedge.com/political/weedmaps-go-public-through-15-billion-merger

Weedmaps, a popular website where users can learn about different strains of marijuana and locate local dispensaries, has agreed to go public by merging with Silver Spike Acquisition Corp. in a deal which values the webstie at approximately $1.5 billion, according to Reuters.

A really solid site that skated past updates (and High Times)over the years. But still 1.5 is eye watering.

 

[Philip J. Fry]

"The company is expected to deliver $160 million in revenue and has been profitable for its entire 12-year history, according to Beals."

These taboo industries are awesome like that. 9 out of 10 businesses in these industries are managed like shit, since no professional manager with an MBA would tarnish their resume, by working in such an industry. However, for the ones that do enter the industry, it's basically free picking as competing companies are so poorly managed.

Manwin, now MindGeek, owns Brazzers, Digital Playground, Mofos, Reality Kings, Sean Cody, Men.com, Twistys, WhyNotBi, Redtube, PornHub, YouPorn, GayTube, Peeperz, PornMD, Thumbzilla, Tube8, Babes.com, WickedPictures, MyDirtyHobby, Webcams.com, and SexTube. That's like 60% or more of the adult market. That company used to be owned by one guy, Fabian Thylmann. Unlike search or social networks or the other industries where a company also dominate the market, politician not going to risk their career by calling people in the porn business to testify how they're not a monopoly. It's fucking beautiful.