Snoop helped the cannabis company “Dutchie” double their valuation.
If there’s two things we know the 2021 version of Snoop Dogg loves, it’s cannabis and shrewd business moves.
Coming on the heels of Snoop’s announcement that he was running an NFT Influencer Twitter account, and just a couple weeks ahead of his upcoming album, Algorithm, Bloomberg has reported that the cannabis company Dutchie, which the hip-hop icon has invested in since 2018, just received a valuation of $3.75 billion.
Yes, that’s billion with a b and yes, that means Snoop just got a little bit richer.
Dutchie, based in Bend, Oregon, was valued at $1.7 billion just seven months ago, but has continued to grow as more and more states legalize cannabis across the country.
“We believe cannabis is good for humanity, and we’re committed to doing our part to propel this remarkable industry forward based on that core belief,” Dutchie CEO and co-founder Ross Lipson said in a press release. “We are powering cannabis commerce through the products and support that we provide our dispensary partners … We’re working arm-in-arm with our customers to create safe and easy access to cannabis while opening people’s hearts and minds to the good it can do.”
Snoop’s love for weed has been well-documented and it’s only right that he is involved with the growth of the industry surrounding it. Earlier this year, it was reported that another cannabis company which Snoop had invested in, Cannabinoid Technologies, received a $68 million valuation. And with Snoop’s own line of cannabis products called Leafs By Snoop, it’s clear the Doggystyle rapper has no plans to stop pushing the industry forward.
Keep an eye out for Algorithm when it drops on November 12 and let us know what you think of Snoop Dogg’s involvement with the world of cannabis in the comments.