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December 20, 2021Blog Posts

Waitr plans to acquire a cannabis dispensary POS company for $90M

Restaurant Dive

Waitr has announced its intention to acquire Cova, a cannabis dispensary point-of-sale company, for $90 million. In a statement, Waitr CEO Carl Grimstad said transactions on the Cova platform could reach approximately $2.3 billion.

This isn’t Waitr’s first play in the cannabis space. In March, the company announced a partnership with Flow Payments to create a compliant marketplace, delivery and payment solution for dispensaries selling cannabis.

The global licensed dispensary sales of cannabis is expected to grow to $40.6 billion by 2024 with a compound annual growth rate of 24%, according to a report from ArcView Market Research and BDS Analytics. The report predicts the U.S. will account for about 73% of that market.

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Crypto. The buzzword you hear everywhere from the news to friends hyping it up. Has the craze gone mainstream and reached businesses?

Big names like Microsoft, AMC, Starbucks, and AT&T are in, but what do small businesses think? The Strawhecker Group (TSG) used new survey data from nearly 600 small businesses in the U.S. to illustrate their knowledge, attitudes, and acceptance of cryptocurrency.

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Payments professionals across the ecosystem will find this infographic to be a great resource as the market continues to evolve. Are you working with merchants on a crypto strategy?

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