After the Greenlight Technologies acquisition, the company is working on blockchain-based loyalty solutions for customers and is also in talks for acquiring a trade show
DENVER, CO / ACCESSWIRE / October 4, 2019 / Leafbuyer Technologies, Inc. (OTCQB:LBUY) ("Leafbuyer") is a marketing and technology solutions company catering to the legal cannabis industry. Based in Colorado, the company operates through its online portal, Leafbuyer.com, which aims to connect legal cannabis businesses and dispensaries with consumers and allowing these businesses to display their product variety and build a loyal consumer base. The platform integrates with several dispensary point-of-sale systems to offer live, up-to-date menu information.
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Leafbuyer is currently a market leader within its niche segment in Oklahoma and has penetrated several U.S. states. The rapid expansion and demand for its products and services warranted the June 2019 opening of the company's first satellite office, located in Los Angeles. In early July 2019, the company was in the news for raising $4.5 million through a private placement of common stock and warrants to two institutional investors. The management intends to use the net proceeds of $4.04 million for financing its working capital and eventually generating positive free cash flows.
Their growth strategy focuses on aggressive user acquisition as they aim to double Leafbuyer's organic growth by the end of 2019. The core team is looking at carrying out some relevant strategic acquisitions with strong synergies in the coming months. It is worth noting that Leafbuyer acquired Greenlight Technologies, a California-based application development company. Currently, the management is in discussions to acquire Las Vegas-based trade show, CBD.io.
On the innovation front, the company has a substantial loyalty platform to help dispensary clients retain existing customers, and blockchain technology enhances the transparency of this program. There is a big gap of customer loyalty between large retail chains and the small mom-and-pop stores and dispensaries. CEO Kurt Rossner believes that the use of blockchain technology helps bridge this gap and helps have stronger accountability while it is embedded into the point-of-sale system of the clients. Rossner also announced the company's intention to launch a new version of the mobile application, which integrates the Greenlight order ahead and delivery technology with the existing Leafbuyer app and blockchain wallet. The management believes that these initiatives will help augment customer loyalty and improve retention.
The Leafbuyer management is also taking steps towards entering the big data game. They are collecting the data of millions of consumers visiting the platform every month, analyzing it, and they intend on passing the relevant insights to the cannabis companies to help them in better understanding their needs and mindset, develop new products, and create more accurate demand forecasts.
For more details on Leafbuyer, please visit https://www.leafbuyer.com/
About Leafbuyer Technologies, Inc.
Leafbuyer.com is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer works alongside businesses to showcase their unique products and build a network of loyal patrons. Leafbuyer's national network of cannabis deals and information reaches millions of consumers every month. Leafbuyer is the official cannabis deals platform of Dope Media, LA Weekly and Voice Media Group.
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Leafbuyer Technologies, Inc.
Andre Leonard
Senior Marketing Manager
Email: [email protected]
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TraDigital IR
MJ Clyburn, Chief Executive Officer
Phone : 917-327-6847
Email: [email protected]
SOURCE: Leafbuyer Technologies Inc.