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Driven Teams Up With Stem Holdings, Explores Cannabis E-Commerce Sector

June 11, 2020 11:15 am
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Cannabis retailer Driven Deliveries Inc. (OTCQB: DRVD) has partnered with Stem Holdings Inc. (OTCQB: STMH) (CSE:STEM) to expand its e-commerce offering and products distribution in California.

Under the deal, the Los-Angeles based delivery company – which provides customers via e-commerce platforms Ganjarunner and Budee — agreed to promote products of a full-service medical dispensary, Foothill Health & Wellness, which Steam recently purchased.

According to the press release, Driven will include Foothill's both popular and proprietary products in its offering, reaching 92% of the company's state coverage.

This year, Driven acquired Budee, which services over 115,000 consumers annually, and is expected to yield $7.7 million in online sales to the company.

Driven has been teaming up with California's cannabis brands providing direct-to-consumer delivery to the consumers in California.

Driven CEO Christian Schenk said the new partnership "is only a beginning."

"Our companies have been working closely together to chart a course for expansion in all markets in which Stem operates, and will use our respective capabilities to service the needs of our customers with greater variety, speed, and accuracy," Schenk said. 

As of June 11, Foothill's customers are offered a broad range of products available for one-hour home delivery. Products can be ordered online.

"The growth in consumer demand for delivery is evident across all product sectors, and particularly in cannabis as our medical consumers in California need to have their orders filled quickly and accurately," stated Stem Holdings CEO Adam Berk.

Stem operates as a holding company overseeing cultivation, production, sale, distribution, and retail of cannabis and related products.

"We further expect to increase our e-commerce footprint together in all other states in which Stem operates, which include Oregon and Nevada, among others," added Berk.

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Cannabis News Markets

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