Lantern, a cannabis delivery platform that started operations in 2020, will operate as an independent private business in the wake of the sale of sister company Drizly to Uber.
San Francisco-based Uber Technologies on Tuesday announced an agreement to acquire Boston-based Drizly, the nation’s leading alcohol delivery platform, for $1.1 billion, mostly in stock.
Drizly launched Lantern last May, but Lantern isn’t part of the Uber deal.
“Since launching in 2020, Lantern has been an independent subsidiary of Drizly Group and will now operate as a fully autonomous private company,” Lantern President Meredith Mahoney said in a statement.
She said Lantern’s management team, staff and core products will remain the same, while Drizly’s founders, investors and board members will serve as strategic advisers to Lantern.
In an interview with CNBC, Uber CEO Dara Khosrowshahi said the company currently isn’t interested in marijuana delivery but indicated that sentiment could change.
Uber started as a ride-share service but has branched out into food delivery under Uber Eats, making the Drizly acquisition a natural fit.
Lantern offers its cannabis delivery services in Massachusetts and Michigan and is positioned to expand into new legal marijuana markets, Mahoney said.
Uber’s acquisition of Drizly, subject to regulatory approvals, is expected to close sometime in the first half of this year.
*Via Marijuana Business Daily*