Online cannabis retailing is fast becoming the norm as consumer expectations change, and Jane offers a turnkey solution to building a strong online presence quickly. Socrates Rosenfeld, co-founder and CEO of Jane Applied sciences, is quick to level Jane's current positioning that has long been in the works. In an interview with TechCrunch, he says this was a bet the company made in 2015 that the way forward for e-commerce will not be a market, but the complete digitization of all businesses. "I suppose we are really looking at the next chapter in what will appear to be the future of e-commerce," Rosenfeld mentioned, "not just in the cannabis industry, perhaps around the world with numerous retail verticals like alcohol, convenience, food places and groceries. I don't think there is a more difficult environment than the cannabis business. Cannabis is often cited as being one of the many winners from the COVID-19 pandemic. Sales ignited when the world closed.
Jane Technologies internal numbers provide additional proof of support. To the best of his knowledge, only 17% of gross legal cannabis sales had been achieved online prior to the pandemic. However, during the height of the pandemic, online sales peaked at 52%, and now, in mid-2021, Jane Technologies says that online sales account for 38% of all legal cannabis sales. According to Rosenfeld, in 2019, Jane saw $ 100 million in total transactional volume, with one million people on the platform, and worked with 1,000 dispensaries. In 2021, the company predicts that it will reach $ 3. 5 billion in total transaction volume and is now working with 2,100 dispensaries, along with Canada. Much more impressive, the company has nearly doubled the variety of products listed in its product database, with 700,000 items, up from 350,000, showing a dramatic improvement in customer cannabis products. "We feel very fortunate to have been born into the cannabis industry, where there was no direct buyer ecosystem," said Rosenfeld. "And we had to go and figure out a way to connect and link the consumer with the model and the retailer. Last month, Jane Technologies partnered with its first Canadian retailer, Excessive Tide. Then two months ago, the company launched Jane Roots, a robust all-in-one eCommerce platform that allows dispensaries to focus primarily on interface design, while Jane handles retail integrations. “In the last 25 years that I have worked with e-commerce corporations, few have become enduring global platforms,” Housenbold said, in a launched statement. “Jane has all the right ingredients to grow into the next eBay or Shopify. They are creating a win-win for all components of the ecosystem: Brands, retailers and customers benefit from their platform and believe that Jane is the go-to service provider to build the way forward for the global cannabis trade..
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Flora Progress was expected to go public last week, however it delayed the transaction. On Tuesday morning, the Toronto-based company said it raised about $ 16.7 million after selling 3 million shares at $ 5 each, the top of the $ 4 to $ 5 range it had reported to investors. that they will anticipate. Boustead Securities is the underwriter to the IPO. Flora grows and processes medicinal grade cannabis oil and various products that it provides to distributors, including pharmacies, medical clinics, and beauty firms. He is currently focused on promoting products in the United States, Colombia, however he plans to develop to different countries in Latin America, Canada and Europe. Flora began generating revenue in August through its Flora Beauty and Hemp Textiles items, according to the agreement prospectus. Net losses increased to $ 14.3 million in 2020, from $ 2.8 million inlosses in 2019. Revenues were $ 106,000 in the last 12 months. Flora is the latest cannabis firm to attract the general public to equity markets. Ascend Wellness, a leading cannabis trader, went public last week and the stock rose on its debut in the Canadian market. AFC Gamma (AFCG), a marijuana lender, earned 21% on its first day of trading in March.…