NEW YORK, July 13, 2015 (GLOBE NEWSWIRE) -- Tumbleweed Holdings, Inc. (OTC:DCDC), a leader in the emerging cannabis information economy, has signed a letter of intent to acquire the GrasshopperSM retail loyalty platform, expanding Tumbleweed's commitment to delivering a robust suite of information technologies.
Grasshopper will offer a nation-wide cross-retailer loyalty program and a multi-dimensional social network for today's cannabis marketplace, all delivered via mobile applications. The program provides cannabis shoppers with valuable recognition when purchasing merchandise at participating retailers and engaging in the Grasshopper social network. Going beyond features found in typical cannabis software, Grasshopper aims to create true economic value by providing a leading edge shopping experience.
Retailers will benefit from increased foot traffic and improved customer lifetime value. Grasshopper's powerful business intelligence dashboard and marketing automation features will allow retailers to quickly understand shopping patterns and improve business decision-making in an increasingly competitive environment. Tumbleweed also plans to add full eCommerce shopping and purchasing functionality to the platform as regulations evolve.
Seth Lukash, President and COO of Tumbleweed remarked, "Given our strategic focus on information technology and business intelligence, we're excited by the prospect of extending our cannabis technology expertise into the retail and consumer space with the Grasshopper platform."
Added Patrick Moore, Chief Technology Officer of Tumbleweed, "The technology supporting the cannabis marketplace today is immature and unevenly distributed, at best. Grasshopper adds one more important dimension in our goal to dominate the cannabis market with the best technology available to all parties."
Grasshopper will be released in a limited public beta later this year. More details can be found by visiting http://startwithgrasshopper.com.
Tumbleweed's strategy is to acquire and operate profitable businesses in the emerging legal cannabis sector, with a focus on product testing, business intelligence, and technology and data applications, as regulations permit. We acquire, invest in and operate both established businesses and innovation-focused start-ups with strong management teams and business models in this sector. Opportunities being developed include scientific product testing facilities, software applications and data systems for the legal cannabis market, and other related product development solutions.
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CONTACT: For more information please contact: Gary Herman, Chairman & CEO email@example.com Tel: (212) 247-0581Source:Tumbleweed Holdings, Inc.