WeedClub acquires Extract.com, rebrands Blockchain Platform to Extract

With marijuana now legal in states across the US, more and more businesses are popping up supporting this fast-growing ecosystem. One of those companies is WeedClub which coins itself as the “Cannabis Business Hub” – wondering what that means? Here’s a little snippet from their about page:

For members of the Professional Marijuana Industry, WeedClub fosters a safe & elegant environment to discover and connect.

For consumers, WeedClub is a fast and accurate way to discover local dispensaries and retailers.

Members enjoy access to our messaging platform. Members can find and communicate with each other without revealing their personal information. Furthermore, WeedClub does not store or log messages in our system. In tandem with the way Member Information is hidden from view, we only allow verified Members to access the Vendor contact information β€” adding to the level of trust in our fledgeling community.

(Source – WeedClub.com)

Evan Horowitz is the Co-Founder and CEO at WeedClub and if that names rings a bell, it’s because he’s also been in the domain name industry for a long time. Among a solid list of previous ventures Evan ran Hunting Moon, which started thirteen years ago and took part in millions of dollars in domain name deals. While they specialized in adult domains, they also owned and brokered a wide range of names.

One of their most notable brokerage deals was six LL.com domains that they brokered back in 2012. So suffice it to say, when it comes to domain names, Evan gets it.

This week Evan announced on Facebook a major domain acquisition for WeedClub – Extract.com which is going to be the home for their new Blockchain Platform, Extract.

First things first, this is a big name and definitely a really nice acquisition for Evan. Second, it highlights a point that I make a lot when talking to other startup founders about domain names. If you acquire your matching .COM, you can call your company/product/brand by it’s name, hence in this case, Evan gets to now have a platform called Extract. If you don’t own the .COM, then you can to call your company/product/brand using it’s domain name otherwise people will get confused and go to the .COM.

Extract.com was originally listed for sale on Ganjapreneur.com, a company run by Andrew Rosner from Media Options. I don’t think the price has been released at this time but if either Andrew or Evan is reading this and wants to share either the price or the range it sold it, that would be cool πŸ™‚

Huge congrats to both Evan and Andrew, this is a great domain and will no doubt give WeedClub’s Blockchain Platform an incredibly strong brand to build on.

{ 10 comments… add one }

  • Ravi parwani May 25, 2019, 8:33 am

    Thanks for sharing Morgan . really it’s a great domain .

    Reply
  • Evan @ WeedClub May 25, 2019, 8:58 am

    Thanks Morgan! WeedClub and Media Options collaborated for many months to decide on the best Brand name for our Blockchain Publishing Platform. The platform is the “Extract” of our Members’ Data, and Regulators can Extract Data in real-time on-demand via our blockchain-based platform— a huge improvement over the current state of the art.

    The value of the domain is somewhat immeasurable imo, however we agreed to something in the low to mid 6-figures. This will be revealed in our financials sooner or later so we will revert back to MorganLinton.com when the news is ready for sharing.

    WeedClub is very helpful for stakeholders in the cannabis and hemp supply chains. Please refer your friends as we grow by word of mouth and please follow us on Twitter as well @420.

    Reply
    • Fat Anon May 25, 2019, 9:29 am

      Low to mid 6 was a steal for you, congrats on a great new name!

      Reply
  • Francois May 25, 2019, 10:25 am

    Congrats Evan, it’s a very nice one!

    Reply
  • MarijuanaGuy May 25, 2019, 11:55 am

    Yup, marijuana domains are hot, I get lots of inquiries everyday for my marijuana domains.

    Reply
  • John May 26, 2019, 11:46 am

    I wasn’t going to say anything, but…Extract.com is a valuable domain asset in itself. I’m sorry to see it used for this, however, and consider it a waste of a very good domain that could be used better for other things. The two word “Weed Club” is still better for the purposes here. I could probably have also found a better two word .com free to reg if people were really set on a name change.

    Reply
    • John May 26, 2019, 11:50 am

      PS, to Evan: you doubtless ran into the “shorter is always better” bias in this matter. I have kind of written the equivalent of a book about it in the blog comments over the past few years. It’s a myth, and sometimes much worse than just a myth, and there is a lot of the darker basics of human nature that goes into that.

      Reply
    • John May 26, 2019, 11:53 am

      Interesting, literally just on my first try after leaving here I found one that may actually be a better option free to reg. It’s the plural of a singular that’s already taken, and I tried the plural first. Not going to say what it is, however, and may reg it myself. It’s also very short though two words.

      Reply
  • Bob May 27, 2019, 12:17 am

    Good reading. BlockExtract.com now for sale at Sedo which seems the best alternative for just $700 USD which is about the same pricing as for expired domains, not 6 figures! https://sedo.com/search/details/?domain=blockextract.com

    Reply
  • Dave May 27, 2019, 6:08 pm

    I had been keeping an eye on this domain and congrats to Andrew / Media Options and to the buyer.

    I own MyExtract / com so this type of sale is great for me to see!

    Thanks
    Dave

    Reply

Leave a Comment