Nov 22 (Reuters) – Uber Technologies Inc (UBER.N) will allow users in Ontario, Canada, to place orders for cannabis on its Uber Eats app, marking the ride-hailing giant’s foray into the booming business, a company spokesperson said on Monday.
Uber Eats will list cannabis retailer Tokyo Smoke on its marketplace on Monday, following which customers can place orders from the Uber Eats app and then pick it up at their nearest Tokyo Smoke store, the spokesperson said.
Uber, which already delivers liquor through its Eats unit, has had its sights set on the burgeoning cannabis market for some time now. Its CEO Dara Khosrowshahi told media in April the company will consider delivering cannabis when the legal coast is clear in the United States.
With more than three years into Canada’s legalisation of recreational cannabis, the country is trying to fix its ailing pot market, where illegal producers still control a large share of total annual sales.
The partnership will help Canadian adults purchase safe, legal cannabis, helping combat the underground illegal market which still accounts for over 40% of all non-medical cannabis sales nationally, Uber said on Monday.
Global cannabis stocks tracker MJ ETF climbed 2%, while Uber’s shares were up 1.2% at $44.78 in premarket trading.[Read More @ Reuters]