With Snoop Dogg’s help, cannabis tech company Dutchie has doubled its valuation to $3.75 billion, according to Bloomberg.
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The Bend, Oregon-based company has raised $350 million in funding, following a $200 million round seven months ago that valued Dutchie at $1.7 billion at the time. The firm is continuing to grow as new states legalize cannabis and others expand their current offerings.
“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.”
TechCrunch reported Snoop Dogg and NBA star Kevin Durant invested in Dutchie as far back as September 2018.
Dutchie isn’t the only Snoop Dogg-affiliated cannabis company to be hitting huge valuations in 2021. In May, it was announced Cannabinoid Technologies was valued at $68 million after raising $23.4 million from investors, ahead of being listed on the London Stock Exchange.
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Outside of business, Snoop Dogg’s love of smoking weed is still strong as ever. 50 Cent revealed he tried to stop Snoop Dogg getting high on the set of his Black Mafia Family series, but failed in his attempt.
“You can’t get him to stop smoking weed,” he said. “I went to the trailer. I was like, ‘Can you chill? Can you chill?’ He was like, ‘Get outta here man! No, it’s legal 50! It’s legal!’”
Snoop Dogg & Dr. Dre Albums To Start 'The Aftermath Takeover' Before End Of 2021
Snoop Dogg recently announced his new album Algorithm is set to arrive on November 12th via Def Jam Recordings. During an appearance on Shade 45 with Too $hort, he teased a collaboration with Eminem.
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“Everybody’s solo song was the last verse of the song before that, except the one with me and Eminem,” he said. “Because I felt like that was like a big reveal. When n-ggas hear that Eminem on that mothafucka, that’s just a whole other level.”
