Powered by more than one million registered users, MassRoots enables consumers to rate products and strains based on their efficacy (i.e., effectiveness for treating ailments such back-pain or epilepsy) and then presents this information in easy-to-use formats for consumers to make educated purchasing decisions at their local dispensary. Businesses are able to leverage MassRoots by strategically advertising to consumers based on their preferences and tendencies.
As of the end of Q1 2017, MassRoots has grown to more than 1,000,000 users. Over the coming months, the Company plans to introduce new features for both cannabis users and businesses, as well as fully index the our public content on Google for SEO value, both of which we expect to accelerate our user growth.
During 2017, MassRoots significantly grew its revenues with over 75% of these sales coming solely from the Colorado and California markets, while the wave of legalization during the November 2016 elections is in the process of opening or expanding markets in 8 additional states. Our two closest comparables, Weedmaps and Leafly, are expected to generate more than $25 million and $15 million, respectively, in digital advertising revenue during 2017. With an already comparable user base to both of these services, we believe our annual revenue run rate will grow to this range within the next four to six fiscal quarters.
We believe we have one of the best models to profit off of the growing trend of cannabis regulation. Because we are not involved in the production or sale of cannabis, we do not have to build grow facilities, open retail stores, or have a physical presence in the state in order to generate revenue. As such, our scalability process into new markets is extremely rapid and cost-efficient. At the same time, our revenue model is not tied to the success of a particular location, brand or ballot initiative — we believe we will have a significant percentage of all dispensaries and brands on our application, making MassRoots a technology platform for the entire cannabis industry.