Peter Thiel's venture capital firm is getting into the marijuana industry

Peter Thiel's venture capital firm is getting into the marijuana industry
(Image credit: iStock)

Peter Thiel is getting into the marijuana business, The Guardian reported. The Paypal co-founder and Silicon Valley entrepreneur is one of the four general partners heading up the Founders Fund, a venture capital outfit that backs unusual and cutting edge technologies. On Thursday morning, the Founders Fund confirmed rumors that it's angling to buy a multi-million dollar minority stake in Privateer Holdings, a company in Seattle that owns Leafly.com.

"For those who haven't heard of it," The Guardian explained, "Leafly is like Yelp for pot and medical marijuana buyers looking for reviews and price information."

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.