NEW YORK: MassRoots, Inc., the ‘Facebook’ for cannabis consumers, is filing an offering to sell stock with hopes that the NASDAQ will approve it for a listing.
The social network was formed in April of 2013 as an online community for people that smoke pot. It now has 775,000 users and 380,000 followers on Instagram. While there are plenty of social networks like Facebook, Twitter or Instagram, many people are not comfortable sharing their cannabis consumption in a place that family, friends and co-workers go to.
MassRoots went public last April on the OTCQB Marketplace under the symbol MSRT; it’s trading at $1.28, well off its all-time high of $7.01. As of March, there were 90 shareholders of record and roughly 47 million shares issued and outstanding.