CANNABASE'S BECK: GROWING ONLINE MARIJUNA MARKETPLACE 

August 12, 2016

In "Taking Stock with Kathleen Hays and Pimm Fox," Jennifer Beck, Co-Founder and Managing Director of Cannabase discusses creating an online wholesale marijuana marketplace that connects commercial growers with retailers and dispensaries. 

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MORE PRESS COVERAGE


 

 

MARIJUANA PRICES FALL IN 2016 AS GROWERS FLOOD THE MARKET WITH POT

January 31, 2017   |   By Debra Borchardt

The falling price of legal marijuana is shaking up the dynamics of the marketplace...

... As in any economy, it's the law of supply and demand. Right now, there is too much supply of marijuana for the demand. Jennifer Beck, owner of Cannabase, Colorado's leading wholesale marketplace said, “Although the consumer is growing - we still see marijuana sales breaking new records. Falling prices and oversupply (including massive congestion in the wholesale space) suggest that sales are not growing nearly as quickly as production.” Beck said there is no end in sight for the amount of cultivation that is occurring and that it's hard to know when the market will be able find equilibrium.

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Bloomberg

AS POT PRICES PLUNGE, GROWERS SCRAMBLE TO CUT THEIR COSTS

January 17, 2017   |   By Jack Kaskey

The increasing supply of legal marijuana is turning into a major buzz kill for growers as prices plunge -- and an opportunity for companies that can help cut production costs.

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CONSOLIDATION IS HAPPENING - WHOLESALE PLATFORM CANNABASE ACQUIRED

November 14, 2016   |   By Matthew Kind

Jennifer Beck, CEO of Cannabase discusses how and why she made the decision to be acquired by Helix TCS and how Cannabase is now in a stronger position post-acquisition.

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 CO ONLINE WHOLESALER PARTNERING WITH CANNABIS SOFTWARE FIRMS

August 1, 2016   |   By John Schroyer

Colorado-based online wholesale platform Cannabase has entered into exclusive partnerships with seed-to-sale tracking software companies MJ Freeway and BioTrackTHC.

The partnership, announced by the companies, will bring new weight to Cannabase’s pricing and inventory information, given that it will now be backed by MJ Freeway’s and BioTrackTHC’s data.

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 MJ FREEWAY AND CANNABASE ANNOUNCE EXCLUSIVE PARTNERSHIP

August 1, 2016

Cannabase, the oldest and largest online wholesale cannabis exchange in the legal cannabis industry, announces its partnership with MJ Freeway, a market leading seed-to-sale software provider.

The partnership paves the way for a live cannabis exchange marketplace powered by MJ Freeway’s seed-to-sale – specifically price and inventory – data. Cannabis retailers and cultivators will find key challenges solved in the integration of MJ Freeway’s live data.

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CANNABASE AND BIOTRACK THC ANNOUNCE PARTNERSHIP

July 29, 2016   |    By Brian MacIver

BioTrackTHC and Cannabase have joined forces to streamline and facilitate the online cannabis wholesale exchange process, both groups announced July 26 in a press release.

BioTrackTHC, a leading seed-to-sale tracking software provider, and Cannabase, host of the Cannabase Marketplace online cannabis exchange, will integrate their systems to make wholesale online cannabis sales more secure and transparent, according to the companies. BioTrackTHC’s software will be implemented to provide live confirmation of inventory data of Cannabase Marketplace’s users. This is a complete shift from the practice of self-reporting inventory that has been common in the industry’s online exchanges up to now, says Cannabase Director of Operations and Co-Founder Jennifer Beck.

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BIOTRACKTHC AND CANNABASE ANNOUNCE PARTNERSHIP

July 27, 2016

Cannabase, a software and technology platform for the legal cannabis industry, and host of Cannabase Marketplace – the oldest and largest online wholesale cannabis exchange in the legal cannabis industry – announces its partnership with BioTrackTHC, a leading provider of cannabis seed-to-sale inventory tracking software systems for both government regulators and cannabis businesses.

Under this partnership, BioTrackTHC and Cannabase endeavor to integrate their systems and provide a seamless experience for cannabis supply-chain activities. Cannabis businesses using BioTrackTHC’s enterprise system will be able to provide real-time confirmation of live inventory data to support the execution of real-time exchange transactions on Cannabase. This unprecedented relationship will solve key structural problems involved in the buying and selling of wholesale cannabis.

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POT WHOLESALE PRICES DIVE AS GROWERS FLOOD MARKET

July 19, 2016  |   By Alicia Stice

A drop in wholesale marijuana prices could leave some Colorado growers in a financial pinch, according to one analysis.

Since this time last year, wholesale prices for recreational marijuana have dropped from $2,047 per pound to $1,360, according to online marketplace Cannabase. That marks a price decline of more than a third, and could slash wholesaler’s profits just as some have expanded their operations, Cannabase CFO Erik Romero said.

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HELIIX TCS ACQUIRES CANNABASE

July 5, 2016        |           By John Schroyer

Helix TCS, a Colorado cannabis company that offers a wide range of services for industry firms, announced Tuesday it has acquired Cannabase, a leading online wholesale platform where many of the state’s growers and retailers buy and sell marijuana.

The move broadens Helix TCS’s reach into the marijuana industry. Helix, a public company which trades on the over the counter markets under the ticker symbol HLIX, already offers armed security, consulting services on banking and compliance, logistical support, and more. Terms weren’t disclosed.

“Cannabase’s critical mass in the marketplace, coupled with the deep pipeline of market-ready technology solutions, made its acquisition a strategic imperative,” Zac Venegas, the CEO of Helix TCS, said in a press release. “This supports our mission to provide a compliant, integrated operating solution to clients.”

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 CASH CROP CANNABIS PODCAST: JENNIFER BECK

By Ryan Estes

Jennifer is the Managing Director and co-founder of Cannabase, the oldest and largest electronic wholesale marketplace, representing over 70% of Colorado’s licensed businesses. In Cannabase Marketplace, licensed cultivators, infused product manufacturers, and dispensary owners can list and discover targeted wholesale inventory ranging from bud, trim, extract, seeds and clones, while connecting with service providers in their area and exploring proprietary Cannalytics™ market data. When she’s not focusing on bringing great technology to the budding cannabis industry, Jennifer serves as the Vice Chairwoman for the Colorado Cannabis Chamber of Commerce, and the Chairwoman for the Chamber’s women’s council – WOW (Women of Weed).

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 COLORADO WHOLESALE RECREATIONAL CANNABIS PRICES TUMBLING

February 25, 2016        |           By John Schroyer

 According to data from the online wholesale marketplace Cannabase, the average monthly average asking price per pound for recreational flower dropped to an average of $1402 in June from $2,106 in January.

The lowest monthly asking price on the Denver-based site plunged even more, to $750 last month from $1,800 in January.

Average retail marijuana prices, by contrast, appear to have declined only slightly this year in Colorado. That’s good news for retail shops, particularly if they’re able to capitalize on the low wholesale prices and pocket the difference.

Meanwhile, the Cannabase numbers point to relatively stable wholesale prices for medical marijuana. The average asking price for a pound of medical cannabis flower on the site was little changed, at $1,850 in June versus $1,900 in January. The lowest monthly asking prices have even increased, to $1,800 per pound in June from $1,600 in January.

The pricing on the recreational side is an enormous change from late last year, when prices were generally well above $2,000 per pound on the site.

Cannabase is a solid metric for judging where the Colorado wholesale market is at in general, because some 70% of all licensees in the state – cultivators, retailers, edibles makers, etc. – do business through the site. And while those numbers are asking prices as opposed to final sales numbers, they’re still an indicator of the wholesale market’s health.

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HOME GROWN:

HOW A MARIJUANA COMPANY KEEPS THEIR DESIGN LOW KEY

April 20, 2015  |  By Nick Anderson

Cannabase approached [creating a wholesale exchange] as a user would — starting with the employees that would actually be using their system to order product. The average dispensary has a turnover rate of over 80 percent, so it didn’t surprise Jen that those workers failed to learn how to use a website that operated more like NASDAQ than an online store.

“You wanna build something that feels like a mix of Craigslist and Facebook, using tools they’re familiar with,” she said. Market forecasts — while important — were secondary to the interaction and usability of the site.

“We didn’t care if it looked like Bloomberg. We didn’t need it to act like a fancy stock exchange. Our goal was to get users in, get them engaging.”

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HIGH TECH:

5 CANNABUSINESSES ON THE RISE IN COLORADO

April 20, 2015  |  By Maura Gaughan

Cannabase is a suite of mobile apps that connects tokers to cannabusiness owners. They have three offerings that allow you to log your stoned hours, find a dispensary and get cannalytics around 420-friendly data.

Cannabase Connects allows users to create a social profile, learn about "trending" strains, rate and review stores among a number of other interactivities. Cannabase Maps show all the dispensaries in the user's area and even provides directions. The app is a private network that licensed Cannabusinesses can use to gather analytics, connect with other companies and is a secure center for employees to login to for a number of features.
We caught up with Jennifer Beck, CEO and founder of Cannabase, and got their take on how the industry has evolved.

 

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westword

MARIJUANA & WOMEN:

WILL THE INDUSTRY SET A NEW STANDARD FOR GENDER EQUALITY?

March 3, 2015  |  By Thomas Mitchel

Beck is the owner and founder of pot social networking site, Cannabase, and vice-chair of the Colorado Cannabis Chamber of Commerce. It was through the Chamber that she helped start Women of Weed — a committee made for women already in the industry seeking the resources and community so many other lines of work have.

"At first the reaction around the table was concern — 'Why do you think you need that? Do you not feel accepted or treated well enough here?' And that's not the purpose of it at all," Beck says. "It's not focused on networking and it's not an entrepreneur class. It's a resource, not a support group, for women who are in this very challenging, isolating business where you're dealing with social stigmas and taboos."

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LEARN HOW CANNABIS DISPENSARIES AND CULTIVATORS CONNECT WITH CANNABASE

 

Cannabase offers an online wholesale marijuana marketplace that connects commercial growers with retailers and dispensaries. Cannabase promises to do the heavy lifting for retailers and growers to help them facilitate their ability to both buy and sell cannabis with the right partners. Listen to this interview with Jennifer Beck, co-founder and CEO of Cannabase in Denver Colorado.

Prior to October 1 2014 dispensaries were required to grow 70% of their own cannabis. This requirement was called, vertical integration. With the end of vertical integration both dispensaries and cultivators are freed from the burden of selling only what they grow. This presents tremendous opportunities for both growers and retailers. Cannabase.io aims to help these two parties connect.

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CO ENTREPRENEURS EYE COMMODITY TRADING FOR CANNABIS

February 27, 2015  |  By Zach Fox

The other millennial-founded company is Cannabase, which launched Jan. 1, 2014. With a somewhat contrarian tack, Jennifer Beck, CEO and co-founder of Cannabase, eschews the idea that it is a commodity exchange in infancy, marketing itself instead as a data and technology company. The company has three products: a mapping feature where consumers can search for dispensaries, a social network platform for consumers to interact with dispensaries and a private marketplace for wholesale transactions.

"The power of Cannabase isn't that we're competing on an app level — it's that we have the intelligence of a platform," Beck said. "Each of the pieces here works together in a way that helps bring an underground industry above ground."

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LADIES OF THE GREEN:

THE FEMALE ENTREPRENEURS BREAKING INTO THE MARIJUANA INDUSTRY

November 18, 2015    |      By Casey Quinlan

“I don’t think the cannabis industry gets enough credit for how enormously sensitive and inclusive it is,” Beck explains. “After all, the industry itself is an outcast in many ways — it’s a divisive topic that still scares a lot of people, and it’s federally illegal. Although being a young woman isn’t always an asset as a CEO, I feel lucky to be in an industry filled with so much energy and passion that nine times out of 10 my age and gender are irrelevant as soon as someone asks about Cannabase.”

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COLORADO'S EMERGING WHOLESALE MARIJUANA MARKET: Q&A WITH CANNABASE CEO JENNIFER BECK

 October 1, 2014      |      By John Schroyer  

Vertical integration was a good decision; it kept the market small while it needed to. It created very high barriers to entry. It forced people to create very quick partnerships in order to facilitate both the grow and the retail side, and to manage both effectively and in a compliant manner.

So this is going to be a real weight off a lot of business owners’ shoulders.

It’s going to really lower the barrier to entry into the cannabis business arena. But most importantly, it’s going to be great for the consumer. I think we’ll start to see a lot more variety, lower prices, higher quality, all of the natural ramifications of a high-functioning, efficient marketplace.

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A TOAST? HOW ABOUT A TOKE?

July 25th, 2014      |       By Lois Smith Brady

Before Jennifer Beck, 27, and Chase Beck, 24, were married on May 3, also at the Devil’s Thumb Ranch, they briefly discussed serving THC-infused cupcakes in addition to traditional ones. Mr. and Mrs. Beck, who founded Cannabase.io, a Denver Internet company that connects customers to marijuana-based businesses, ultimately decided not to include the special cupcakes, in part because it was springtime, the season when the rivers are raging with snowmelt and the bears are coming out of hibernation — not the ideal moment for anyone to be stoned in the mountains.

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DENVER TECH STARTUP TAKES ROOT IN COLORADO'S MARIJUANA WHOLESALE MARKET

January 20, 2014

Denver, CO - Cannabase, a privately-held Denver technology startup, is excited to announce the launch of Cannabase... a subscription-based service that will give MED-licensed businesses in Colorado the opportunity to participate in and monitor the wholesale marijuana market with unprecedented ease, security, and convenience. The official launch date is Monday, January 20th, 2014.

“Our goal is to use the highest quality technology available to connect the dots for businesses in this burgeoning industry,” says Jennifer Gargotto, CEO and co-founder of Cannabase.

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CANNABASE: SAFE WHOLESALE MARIJUANA EXCHANGE & COMMUNITY CONNECTION FOR THE CANNABIS INDUSTRY

January 17, 2014    

"Cannabase (cannabase.io) ... is the first comprehensive platform to connect the legal marijuana community. It allows businesses a place to exchange wholesale bud, connect with consumers, increase their patient counts, and more. For individuals, it's a great place to privately form events and secure connections, connect with dispensaries, and access great deals on grow supplies, glass, flower and more. It's built on fast and very secure technology, and is fully outfitted for a great mobile or desktop experience."

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