Hollywood rapper and businessman Snopp Dpgg gears up for a new investment with a Marijuana-related technology, funding $25M as a startup.
According to TheDrum, the Long Beach star hopes to gather $25 million funds to finance a cannabis-related technology as a startup. The said investment will also include a weed delivery service.
Although the information on Snopp's business milestone isn't clearly provided, Snoop is currently into the process of making that happen, TheDrum stated.
As he takes the step on the cannabis industry, the rapper is also aiming to get high revenue on his million dollar investment, Frqntflyr cited.
On a live show in one of the episodes of his online show "GGN: The Double G News Network", Snoop admitted smoking in a White House bathroom. Avvording to The Washington Post, his revelation took place when his guest Jimmy Kimmel asked if he ever smoked (pertains to marijuana) at the White House. The rapper confirmed, though not naming anything. The rapper also revealed that he asked permission first prior to smoking.
Snoop isn't the only Hollywood star who is engaged in making money from drugs. Bob Marley's estate also used the late legendary's face for an international marijuana brand. The unnamed company will sell lotions, creams, and accessories all inspired by marijuana and Marley.
Last year, four states in the US have already legalized recreational marijuana. Among those states are Colorado, Alaska and Columbia while Oregon's legality will be effective this year, Governing reported. After the legalization has been made, the Weed business in Colorado profitably grows, businessmen gearing up with the booming industry.
Factobook publisher Cannabusiness Media reportedly estimate $1.6 billion - $1.9 billion sales of legal weed for medical purpose in the US. While another $600m to $700m was also sold for legal recreational use.
Prior to his investment, Snoop also had a share in Reddit.
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