Oct 18, 2022
Last year, Uber (NYSE: UBER), a global leader in e-commerce and delivery technology, said it could start delivering cannabis once federal regulation allowed the company to do so.
During an interview with TechCheck in 2021, Uber CEO Dara Khosrowshahi said, “When the road is clear for cannabis, when federal laws come into play, we’re absolutely going to take a look at it.”
Since then, the global leader in e-commerce and delivery technology has followed through on its statement and will start to deliver cannabis in Toronto through a partnership with Leafly (Nasdaq: LFLY), a leading online cannabis marketplace and information resource.
Starting today, Torontonians that are 19 or older can place orders from local licensed cannabis retailers in the Uber Eats app and have it delivered to their door. We are favorable on the distribution that Uber Eats provides Leafly and are bullish on the amount of value that can be generated via the relationship.
We believe the agreement is the first of many for Uber and expect the tech giant to start to capitalize on the United States (US) once regulations allow it to do so. By forming the first cannabis delivery partnership on a major third-party delivery platform in the world, the companies are well positioned to capture market share in Canada and we will monitor how the relationship evolves from here.
Uber Eats Canada General Manager Lola Kassim said, “We are partnering with industry leaders like Leafly to help retailers offer safe, convenient options for people in Toronto to purchase legal cannabis for delivery to their homes, which will help combat the illegal market and help reduce impaired driving. Over the last few years, we have invested heavily in our delivery business and selection has expanded tremendously. Uber Eats has grown quickly to become a versatile platform usable by diverse businesses large and small.”
We believe the relationship between Uber and Leafly represents a major step forward for the cannabis sector and will monitor how other tech giants approach the sector following this announcement.
https://technical420.com/cannabis-article/uber-eats-makes-a-splash-in-the-cannabis-sector/#
Comments