Two of the fastest growing industries right now in the United States are on-demand technology and cannabis. These two industries are at the epicenter of growth and investors aren’t being shy about their appetite for companies in these arenas. But one company, in particular, has developed a unique business model that services both of these massive growth industries.
Driven Deliveries Inc. (OTC: DRVD) is one of the only publicly traded cannabis delivery service operating in the United States.
Now that’s what we call first mover advantage. Driven Deliveries provides on-demand marijuana delivery in select cities where allowed by law. The service provides the legal cannabis consumer the ability to purchase and receive their marijuana in a fast and convenient manner.
Consumers are growing increasingly lazy with most of all purchases from retail to food shopping being done online. And now you can add weed to that list. Driven Deliveries (OTC: DRVD) is quickly gaining steam in legal US markets as the new delivery option for customers is resulting in increased revenue and transactions for dispensaries.
Food delivery apps and services such as GrubHub and Uber Eats have already expanded revenue generated in the food-service industry by 22% or more. Consumers love getting what they want without having to leave their house to get it, plain and simple.
Investors are Starving for this Tech
Investors’ appetite for such delivery service companies seems to be insatiable. Take DoorDash for example. The company competes with GrubHub and Uber Eats but recently tripled its valuation in only about 5 months to $4 billion despite not even being profitable.
Moreover, Uber Eats owns about 20% of the market while GrubHub, including Seamless and Eat24, has 52% market share. And even in the face of that steep competition, DoorDash has raised nearly $1 billion overall to date. This should give you an idea of just how hungry investors are for on-demand service companies.
Even Chinese investor and WeChat owner, Tencent, is looking to get involved in the food-technology sector in a big way by contributing a significant piece of a $500-$700 million raise for India’s Swiggy. The investment would value Swiggy at $2.5-$3 billion. Another app called Rappi is a Colombian on-demand delivery startup that recently brought in a new round of funding at a valuation north of $1 billion.
But there’s a problem, most of these on-demand and food delivery companies are private. The regular retail investor doesn’t have access or the opportunity to invest in them. That is why we are putting the focus on Driven Deliveries Inc. (OTC: DRVD).
The closest thing to Driven Deliveries is EAZE, a private marijuana delivery service based in San Francisco. EAZE is closing a $65 million venture capital funding round that would value the company in excess of $300 million, according to Axios . With a similar model to Driven Deliveries, EAZE is essentially like an Uber for weed. EAZE currently only delivers in California but recently launched a marketplace for shipping cannabidiol products to 41 states and Washington D.C. But again, EAZE is a private company leaving Driven Deliveries (OTC: DRVD) is one of the only options for retail investors looking to capitalize on this growing trend.
Canada Had Its Turn, Now It’s All About the U.S.
According to Statista , the United States legal cannabis market is projected to be valued at $24.1 billion by 2025. And a recently introduced bill to Congress could catapult the industry to those record levels even quicker than originally expected.
The Secure and Fair Enforcement (SAFE) Banking Act, if passed, would allow federal banks to accept revenue from and provide banking services to businesses profiting from the sale of cannabis. The House and Financial Services Committee already voted 45 to 15 in favor of moving the legislation towards a vote.
The passing of this bill could send a lightning bolt straight through the heart of the U.S. cannabis market sparking industry growth that would trump what we saw in Canada after fully legalizing marijuana nationwide.
The SAFE banking act of 2019 could open the flood gates for the U.S. cannabis market. Forbes is predicting a combined yearly growth rate for North American marijuana sales to be 25% by 2021. To put that into perspective for you, the growth rate during the dot-com era was 22%.
The Amazon Touch
Driven Deliveries, Inc. (OTC: DRVD) is taking pages straight out of Amazon’s playbook. The company recently launched a new delivery model, Driven Direct. This will allow Driven Deliveries to work directly with brands and retailers to deliver a broad range of cannabis products directly to consumers.
Driven Direct’s structure will resemble that of Amazon’s delivery model. The program is designed to let entrepreneurs run their own local delivery networks featuring the Driven Deliveries logos. Each delivery unit will begin its day at a designated Driven station in California, where packages ordered from local retailers are then picked up by Driven Deliveries, Inc. drivers and delivered direct to the consumer. Location-based algorithms will determine which packages are sent to these delivery stations.
The program is critical in addressing the retailers’ primary transportation issue, last mile delivery. “Last Mile Delivery” is a term used in supply chain management and transportation planning to describe the movement of people and goods from a transportation hub to a final destination, in this case the consumer.
In 2018, the global last mile delivery market size was $30.2 billion and it is expected to reach $55.2 billion by the end of 2025, with a CAGR of 9.0% during 2019-2025. See the company press release.
But Everyone Wants to Be Like Amazon
We know what you’re thinking, of course a small company is going to want to resemble and try to replicate Amazon’s model and strategies. But how many companies trying to do so are being guided by former Amazon executives?
In February 2019, Driven Deliveries (OTC: DRVD) added Jerrin James to serve as the Chief Operating Officer. Mr. James is an accomplished global logistics and supply chain executive who has led operations, supply chain and logistics at technology giants such as Amazon, Groupon, and Facebook. Previously, he served as Head of Logistics at Facebook with global responsibility.
Mr. James was instrumental in optimizing end-to-end supply chain procedures, yielding significant efficiency gains in each one of his previous roles. He possesses extensive experience leading and executing multichannel distribution, supply chain and logistics strategies across multiple continents for these extremely fast-paced high-growth companies. See the company press release.
The value of adding someone like Jerrin James is immeasurable. The fact that someone with his track record and experience wanted to take on an executive position with Driven Deliveries (OTC: DRVD) speaks volumes about what this company has going on. So, it is no surprise that just 1 month after adding Mr. James, Driven Deliveries launches Driven Direct, a similar delivery model seen in Amazon.
But Wait, There’s More!
As if adding a former Amazon, Facebook, and Groupon executive wasn’t impressive enough, Driven Deliveries took it one step further. In March 2019, the company added Adam Berk to their Board of Directors.
Mr. Berk is the founder and developer of the technology and logistics company that went on to become GrubHub Inc.
As we mentioned earlier, GrubHub, including Seamless and Eat24, owns 52% of the on-demand food delivery service market. Mr. Berk also currently serves as the Chief Executive Officer of Stem Holdings, a leading cannabis MSO (multi-state organization) that is fully vertically integrated, with operations developing in over 10 states. See the company press release.
CEO of Driven Deliveries, Chris Boudreau, had this to say about these two key personnel additions with regards to the launch of Driven Direct,
“Management has built a strong foundation of human capital via the recent additions of Mr. Jerrin James from Amazon and Mr. Adam Berk of Osmio (now GrubHub) Jerrin’s background in operations, large-scale processes and advanced technologies coupled with Adam’s skills in E-commerce and logistics, provide a strategic advantage that will help to make Driven Direct a success. I’m confident that as the marijuana delivery market continues to evolve, bespoke services that address last mile delivery will become increasingly vital to the process. We intend to move aggressively into this market and establish ourselves as the leader in this expanding industry.”
But this isn’t where the growth trail ends, but where it begins. The company’s LOI to acquire Ganjarunner, Inc. could become a game-changing deal for the company. Why? Aside from rapidly expanding the corporate footprint, the deal will add accretive revenue growth and an existing customer base. The transaction also could significantly expand Driven’s next day delivery network and service area along with Ganjarunner’s California cannabis delivery license.
Ganjarunner has shown continuous revenue growth since its inception. Since May of 2018 Ganjarunner has fulfilled over 17,000 deliveries to more than 6,000 customers and has experienced revenue growth of 54% to $2.6 million. Ganjarunner is rapidly expanding its existing customer base of over 10,800 customers and by adding over 1,300 new customers in Q1 CY2019 alone. Ganjarunner adds a solid revenue foundation to Driven as over 82% of Ganjarunner’s current business is from derived from repeat customers.
It’s All About Growth
Driven Deliveries (OTC: DRVD) has homed in on two of the most rapidly growing industries in the market today, cannabis and on-demand technology. Separately, each industry provides tremendous growth for investors as company valuations continue to soar into the multi-billions. But there is just one company in the U.S. combining the two growth sectors into one unique, disruptive technology.
Driven Deliveries (OTC: DRVD) has first mover advantage while being led by a team of industry juggernauts. A well-rounded and experienced management team and board brings decades of knowledge and expertise from some of the largest, most successful companies in the world like Amazon, Facebook, and GrubHub. If such industry professionals are intrigued by what Driven Deliveries (OTC: DRVD) has to offer, don’t you think you should be too?
Disclaimer: Pursuant to an agreement between MIDAM VENTURES, LLC and a third party, Data Marketing Solutions Inc., Midam was hired for a period from 04/22/2018 – 5/22/2019 to publicly disseminate information about Driven Deliveries Inc. including on the Website and other media including Facebook and Twitter. We were paid $50,000 (CASH) for & were paid “0” shares of restricted common shares. We may buy or sell additional shares of Driven Deliveries Inc. Inc. in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.
Strong Potential For Marijuana Stocks This Summer? Amazon May Be Responsible
Ever hear of marijuana stocks? You probably have. The sector for marijuana stocks has exploded, our political landscape sees the legalization of marijuana as a priority, and the projections for the industry are eye-opening, to say the least. A survey by The Associated Press showed 61% of Americans, 76% of Democrats and 54% of Republicans support the legalization of marijuana.
From 1996 to 2019 the number of states that supported the medical use of marijuana increased from 0 to 47 states. Full legality, including recreational, has jumped from 0 to 11 states with more states slowly moving towards full legality.
Although the industry is already experiencing a strong explosion of growth, the market for marijuana still has plenty of room to fill. Given that the political and public climate has warmed up to marijuana legalization the industry will most likely fill that room.
Even with growth, the industry isn’t the easiest to navigate
Regardless of the industry’s support, the financial side can be a bit tricky for marijuana companies. Due to the mass influx of up and coming marijuana companies, diversification in the industry is a real struggle. Product diversification in the industry has been more driven towards the levels of THC or CBD in products which presents legality issues of use for higher level products. Also, the type of consumption allows for diversification. This includes vaping, marijuana-incorporated foods and drinks, and oils.
Another struggle for growing marijuana companies is actually being able to produce the marijuana they plan on using in their products. It is extremely time-consuming to get licensing for cultivating and processing. The most apparent workaround has been for companies to integrate with other companies who have gone through the entire process.
ParcelPal (PKG) (PTNYF) is a company that can help marijuana companies diversify. ParcelPal is an on-demand delivery service that delivers anything a consumer needs. Last month, the company launched its cannabis delivery service in partnership with Kiaro. ParcelPal could give marijuana companies extra customers and sales due to the outreach to consumers not able to access marijuana dispensaries.
An Amazon Connection
ParcelPal holds itself to having the highest standard of delivery services. Amazon and ParcelPal participated in a work order to fulfill deliveries, on behalf of Amazon, in British Columbia, Canada. ParcelPal’s excellence was reflected through Amazon’s recognition, granting them Gold Status due to it becoming one of Amazon’s fastest growing providers and having a near 99% first delivery success rate.
ParcelPal recently welcomed Parm Gill as an advisor to the Board of Directors of the company. Gill is the current Member of Provincial Parliament for Milton. Prior to his work in public service, Parm was involved in several family businesses in the manufacturing and hospitality industries. Parm studied at the Ivey School of Business at Western University, earning his Master of Business Administration degree.
“I am very excited to have Parm join the Advisory Board. Mr. Gill’s knowledge on economic issues and private sector experience will be an asset for ParcelPal moving forward. Mr. Gill has changed criminal law for the better and is always looking for the betterment of safety for all Canadians.”ParcelPal President and CEO Kelly Abbott
Let’s expand on the Amazon situation here. The reason is that it could mean something monumental for both the companies engaged with Amazon and for the cannabis industry at large. Amazon potentially could use its Whole Foods Market subsidiary as a hub to sell marijuana products!
John Macket, co-founder and CEO of Whole Foods, expressed, “If cannabis is ever passed in Texas, chances are good that grocery stores will be selling that too. You just never what happens over time with markets. They change and evolve.” Mackey has been consistent on his view of marijuana legalization, supporting it all the way back in 2013.
Of course, Amazon is seen as a behemoth spanning across multiple industries. Yet, it still has some difficulties to face in the marijuana industry. Although there is widespread support for marijuana, the drug isn’t legal federally or in some states yet.
Needless to say, for logistics companies like Amazon and delivery companies like ParcelPal, the opportunity ahead could be slated to “delivery” real revenue opportunities in the not too distant future.
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Disclaimer: Midam Ventures LLC has been compensated $75,000 per month by a ParcelPal Technology, Inc. for a period beginning September 1, 2018 and ending February 1, 2019 to publicly disseminate information about (PTNYF/PKG) to publicly disseminate information about (PTNYF/PKG). Midam Ventures has been compensated $100,000 by Parcel Pal and has extended coverage to April 1, 2019. Midam Ventures has been compensated $100,000 by Parcel Pal and has extended coverage to May 1, 2019. Midam Ventures has been compensated $200,000 by Parcel Pal and has extended coverage to June 1, 2019. We may buy or sell additional shares of (PTNYF/PKG) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information. We own zero shares. Click Here For Full Disclaimer
Driven Deliveries, Inc. (DRVD) Enters $530 Million Nevada Cannabis Market
SAN DIEGO, May 14, 2019 (GLOBE NEWSWIRE) — Driven Deliveries, Inc., (DRVD), the world’s first publicly traded cannabis delivery company, announced today that it has successfully launched operations in Nevada with Shango Marijuana Dispensary, one of the most successful stores in the State. The new endeavor provides Driven with a monumental opportunity to serve Las Vegas, the largest market in the State with massive tourism, and a central launch point for additional markets throughout Nevada.
The Nevada cannabis market has been growing at a rapid pace. Nevada retailers sold approximately $530 million worth of medical and recreational cannabis in 2018*. The $44.1 million in monthly revenue represents a 35% increase, when compared to monthly revenue in 2017. According to New Frontier and Arcview Market Research, annual legal cannabis sales in the state are projected to grow to an estimated $629.5 million by 2020.
Shango Premium Cannabis is the leading medical and recreational medical dispensary license holder, grower and manufacturer in multiple states across the country. The Company currently owns cannabis-related licenses in Oregon, Washington and Nevada, with expansion plans that include retail, manufacturing and product distribution in Michigan, New Jersey and California in the cannabis market and nationwide for its CBD products. Shango is vertically licensed to create a full range of award-winning cannabis products, including flower, extracts and cannabis-infused edibles, produced by expert cultivators and processors in Oregon, Nevada and Washington.
“Management is thrilled with our entrance into the white-hot Nevada cannabis marketplace,” stated Mr. Brian Hayek, President of Driven. “Our foray into the state, is a result of us leveraging strategic relationships and our proven track-record of providing impeccable service to our expanding client base. Driven has established strong brand recognition, throughout the western United States, and is currently targeting additional markets to increase its presence on a more national scale.”
“This is a great opportunity for Shango Las Vegas to partner with Driven to add a delivery service for our customers who are looking for quality products delivered on demand,” said Mr. Brandon Rexroad, Founder and CEO Shango. “We look forward to working with a premier name such as Driven as we continue to expand our outreach to the emerging Nevada marketplace.”
Driven Deliveries, Inc. is the first publicly traded cannabis delivery service operating within the United States. Founded by experienced technology and cannabis executives, the Company provides on-demand marijuana delivery, in select cities where allowed by law. Driven provides the legal cannabis consumers the ability to purchase and receive their marijuana in a fast and convenient manner. By 2020, legal cannabis revenue in the U.S. market is projected to hit $23 billion. In leveraging consumer trends, and offering a proprietary, turnkey delivery system to its customers, management believes it is uniquely positioned to best serve the needs of the emerging cannabis industry and capture notable market share within the sector. For more information, please visit https:// GoDriven . com/ and review Driven’s filings with the U.S. Securities and Exchange Commission.
ParcelPal (PKG.CN) (PTNYF) Welcomes Ontario MP Parm Gill to the Advisory Board of Directors
VANCOUVER, British Columbia, May 14, 2019 /PRNewswire/ — ParcelPal Technology Inc. (“ParcelPal” or the “Company”), (PKG.CN) (PKG.CN) (PT0.F) (PTNYF) is pleased to welcome Ontario MP Parm Gill as an advisor to the Board of Directors.
Parm Gill is the current Member of Provincial Parliament for Milton. Prior to his work in public service, Parm was involved in several family businesses in the manufacturing and hospitality industries. Parm studied at the Ivey School of Business at Western University, earning his Master of Business Administration degree.
Before being elected to the Ontario Legislature in 2018, Parm was the Federal Member of Parliament for Brampton-Springdale from 2011-2015.
While serving as the MP in the Canadian House of Commons, Parm was appointed as the Parliamentary Secretary to the Minister of Veteran Affairs, and later, the Minister of International Trade. Throughout his tenure, Parm was a member of many committees including the Standing Committee of Public Safety and National Security, Health, Canadian Heritage, Veterans Affairs, and International Trade.
REPORT: Special Delivery! On-Demand Tech Companies Hit Billion-Dollar Valuations; Here’s How Investors Can Capitalize In The Market
In 2012, Parm introduced a Private Member’s Bill, C-394. His bill introduced a new Criminal Code offense: prohibiting the recruitment or encouragement of a person to join a criminal organization. The bill passed with unanimous consent and became law in June 2014. The bill works to keep our streets, neighbourhoods, and committees safer which has always been a top priority for Parm.
As Chair of the Standing Committee on Justice Policy, Parm continues his advocacy work to keep our communities safe. The committee is responsible for studying and providing recommendations on bills related to policing and the courts.
President and CEO Kelly Abbott states, “I am very excited to have Parm join the Advisory Board. Mr. Gill’s knowledge on economic issues and private sector experience will be an asset for ParcelPal moving forward. Mr. Gill has changed criminal law for the better and is always looking for the betterment of safety for all Canadians.”
Parm Gill stated, “I am excited to be joining a company that has put public safety first. As ParcelPal moves further into cannabis and alcohol delivery, I am happy to advise on how they can continue the fight against intoxicated people on the roads and getting their products safely. ParcelPal has a bright future and I am excited to be part of a team that will grow their business across Canada and the United States.”
About ParcelPal Technology Inc.
ParcelPal is a technology-driven logistics company that connects consumers to the goods they love. Customers can shop at partner businesses and through the ParcelPal technology receive their purchased goods within an hour. The Company offers on-demand delivery of merchandise from leading retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver and soon in major cities Canada-wide.
ParcelPal Website: www. parcelpal . com
The Canadian Securities Exchange (“CSE”) or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release that has been prepared by management.
CSE – Symbol: PKG
FSE – Symbol: PT0
OTC – Symbol: PTNYF
Forward Looking Information
This news release contains forward looking statements relating to the Proposed Transaction, and the future potential of ParcelPal. Forward looking statements are often identified by terms such as “will”, “may”, “should”, “intends”, “anticipates”, “expects”, “plans” and similar expressions. All statements other than statements of historical fact, included in this release are forward looking statements that involve risks and uncertainties. These risks and uncertainties include, without limitation, the risk that the Proposed Transaction will not be completed due to, among other things, failure to execute definitive documentation, failure to complete satisfactory due diligence, failure to receive the approval of the CSE and the risk that ParcelPal will not be successful due to, among other things, general risks relating to the mobile application industry, failure of ParcelPal to gain market acceptance and potential challenges to the intellectual property utilized in ParcelPal. There can be no assurance that any forward looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The Company cannot guarantee that any forward looking statement will materialize and the reader is cautioned not to place undue reliance on any forward looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward looking statements contained in this news release are expressly qualified by this cautionary statement. The forward looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward looking statements as expressly required by Canadian securities laws.
peter@ parcelpal . com
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