Scott Gordon, CEO and Chairman of Silver Spike, said the publicly-traded special purpose acquisition company believes Weedmaps “is the most compelling investment opportunity in cannabis today.” Silver Spike raised $250 million in a Nasdaq initial public offering in August 2019 with plans to buy a cannabis-related company. WeedMaps is like Yelp but for the marijuana industry. Weedmaps is going public December 13, 2020 FILE-In this Tuesday, Aug. 6, 2019 file photo file photo, Marijuana plants growing under special grow lights, at GB Sciences Louisiana, in Baton Rouge, La. Weedmaps is the most widely used and downloaded marijuana mobile application on the Google Play and the Apple App Store. Publicly Traded Cannabis and Medical Marijuana Dispensaries Companies - SIC Code 512227. Justin Hartfield founded WeedMaps in 2008 and took the company public in 2010. Weedmaps, the online directory of cannabis-store menus and locations that’s served alternately as a “little black book” for licensed weed stores and a Craigslist for off-books and illicit marijuana sales, has been subpoenaed to provide information to the federal government. Village Farms International was ranked as the top value marijuana stock. Recently, Investopedia reported on some of the best marijuana stocks for 2020. Aurora Cannabis and Harvest Health and Recreation Inc. Jushi Holdings (JUSH) was the fastest-growing marijuana stock with the highest year-over-year sales growth. The estimated post-transaction equity value of the combined … Marijuana Stocks Spike, Where to Look for Dividends. Which Are The Biggest Cannabis Companies in the U.S.? Follow this list to discover and track the stock of publicly traded companies with exposure to cannabis Farzana on November 20th, 2019 - 11:16pm . [6], In November 2011 Weedmaps acquired Marijuana.com for $4.2 million. Weedmaps is a tech company serving the cannabis industry, founded in 2008 by Justin Hartfield and Keith Hoerling. "[20] MMJMenu allows medical marijuana businesses to track their sales and revenue from seed to sale, servicing medical marijuana states such as California, Colorado, Washington, and Michigan. Canopy Growth, Cronos Group, and Tilray are among the largest marijuana companies. Flowsent, Nugg Club, and Lucky Box Club are among those companies. In August 2019, the company announced it would only allow state-licensed dispensaries to be advertised on the site, allowing clients until the end of the year to update their license information. WeedMaps was once part of a small publicly traded company, but it went private last January. [1], Headquartered in Irvine, California, Weedmaps has more than 400 employees, and has offices in Denver, Tucson, New York, Barcelona and Toronto. [19] It is currently available in California and Oklahoma. Cannabis … TheStranger reported in the spring of 2020 that the company's history of illicit listings may have “serious consequences for WeedMaps’ announced plans of an IPO.”. WM Holding Company, LLC, which operates online cannabis shop directory Weedmaps, and Silver Spike Acquisition Corp. (SSPK), a publicly-traded special purpose acquisition company, said Thursday they have agreed for a business combination that would result in WM Holding becoming a public company. Weedmaps is a tech company serving the cannabis industry, founded in 2008 by Justin Hartfield and Keith Hoerling. WM Holding Company, LLC, better known as Weedmaps, and Silver Spike Acquisition Corp. (Nasdaq: SSPK), a publicly-traded special purpose acquisition company, announced today a definitive agreement for a business combination that would result in WMH becoming a public company that would remain on the NASDAQ marketplace. Fakespot CSO Ming Ooi gave Weedmaps an F-grade. The acquisition included the Marijuana.com domain name as well as all of the site's content. Weedmaps mistakenly leaked data showing that the majority of reviewers were from a small group of IPs that all gave good reviews of the site which means that individual users were leaving multiple reviews. Are Cannabis Stocks a Good Investment Right Now. [21] An auditing company called Fakespot found that only 38% of reviews were valid on Weedmaps. Leafly is a major competitor to WeedMaps. The company General Cannabis acquired WeedMaps, which effectively made WeedMaps a publicly traded company. In 2018, Leafly committed to only listing licensed marijuana dispensaries. On the public market, people can invest in publicly-traded companies by purchasing shares through a broker or, if a company offers it, investing directly via a direct stock purchase plan. Shares can be bought, sold, and traded on stock exchanges, such as … “ Today, we can proudly claim the title of the only US-based, publicly-traded company that touches every aspect of the cannabis lifecycle—from cultivation, to extraction, to … WeedMaps offers search options for free to users. “Suffice to say a … An independent analysis of the text of reviews estimates that 62% of reviews are fake. Weedmaps is going public through a merger with Silver Spike Acquisition Corp., a SPAC. If Weedmaps was a publicly-traded company, there would be a massive management shakeup and the CEO would be held accountable. As part of acquisition, founder Justin Hartfield became WeedMaps' Chief Web Officer. Northern Star’s … [9][10], Also in June 2013, Business Insider dubbed Hartfield "The First Venture Capitalist of The Pot Industry. [16] Consumers can also place online orders for products from dispensaries or delivery services via the site. [1] As of October 2019, the company announced they would lay off approximately 25 percent of its workforce, due to the slow introduction of recreational markets in California and Massachusetts. Weedmaps, the online directory of cannabis-store menus and locations that’s served alternately as a “little black book” for licensed weed stores and a Craigslist for off-books and illicit marijuana sales, has been subpoenaed to provide information to the federal government. Justin Hartfield founded WeedMaps in 2008 and took the company public in 2010. [8], In June 2013, Hartfield and business partner and COO Doug Francis formally announced the formation of Ghost Group and its offspring, the Emerald Ocean Capital firm, the first marijuana Venture Capital firm to connect and invest through "Emerging Companies in Legal Cannabis and Medical Marijuana Sectors." The deal will value Weedmaps at $1.5 billion. In April 2019, Weedmaps launched their wholesale exchange platform, WM Exchange. In September 2019, Weedmaps announced the launch of its own point of sale system, WM Retail, and announced live menu integrations for consumers using Cova or Meadow point of sale systems. Eventually, Hartfield believes, the company could be acquired by … Many in the industry criticized the decision to keep them on the site after the grace period for dispensaries that had been operating under Proposition 215 expired in early 2019. “Weedmaps Deals” immediately connects patients in every medical marijuana state with hundreds of the best offers and discounts in their local areas every day. 123.95k followers • 20 symbols Watchlist by Yahoo Finance. Shares of Northern Star traded at around $16 recently, about 23% higher than the $13 opening price at its IPO earlier this month. https://finance.yahoo.com/video/weedmaps-public-via-spac-1-180817424.html Weedmaps.com, the world’s largest online medical marijuana resource, is proud to announce the launch of “Weedmaps Deals,” the first cannabis resource of its kind. This list is made from self-reported SIC codes that companies file with the SEC. It was acquired by privately-held GrowOne in 2015. Between the anticipated closing of the deal, which will make WeedMaps essentially a publicly traded company on the Pink Sheets and California’s vote on … Cannabis e-commerce platform Weedmaps announced Thursday plans to go public in deal valued at an eye-popping $1.5 billion. If you’re not accredited, you might think about investing in one or more publicly traded firms out there that provide exposure to startups. Investing in publicly traded venture capital firms provides a form of diversification since the returns won’t be overly correlated to the public markets. The The museum finished its 3-month run at the end of October. The software handles everything from patient management to inventory control to checkout at point of sale. In March 2019, Chris Beals was named CEO of Weedmaps, and previous CEO Doug Francis stepped back from the day-to-day running of the company to serve as Chairman of the company. In 2016, a study by Fakespot found many reviews on the site to be suspicious. In December 2011, Weedmaps acquired MMJMenu, a Denver-based software entity that "provides back-end enterprise software for medical marijuana dispensaries. The company makes money by charging the dispensaries for placement and advertising along with rebuttals of poor reviews. On December 31, Medmen’s share price rose by 22.81% to 0.70 Canadian dollars on the CSE (Canadian Securities Exchange). WeedMaps has faced scrutiny for continued listings of unlicensed and illegal marijuana dispensaries even after it received a cease-and-desist order in 2018 from California’s Bureau of Cannabis Control, according to Leafly. The company expected to move $1 billion worth of marijuana products in 2020, but scaled back the goal to $412 million, according to MarketWatch. WeedMaps is a marijuana technology and media brand. In March 2019, Chris Beals was named CEO of Weedmaps, and previous CEO Doug Francis stepped back from the day-to-day running of the … [17][18] The application offers similar functionality to the website, but does not allow ordering, due to Google and Apple's restrictions. The site also has sections for industry news, learning about cannabis and strain information. WeedMaps has used its platform and revenue to help promote marijuana legalization across the U.S. Eaze Technologies is another privately-held marijuana delivery company located in California. Therein lies part of the problem. If you’re an accredited investor, check out Alumni Ventures Group , a firm that lets you invest in deals alongside some of the best venture capital firms out there. After the passing of adult-use cannabis in California through Proposition 64, Weedmaps continued to list dispensaries that had previously advertised on the site, expecting they would received licenses. WeedMaps made three acquisitions in 2011 — mmjmenu, WeedLaws, and Marijuana.com, according to Crunchbase. Our signature consumer-facing platform (available on the web at www.weedmaps.com, as well as through native Android and iOS apps), provides consumers with information regarding cannabis products, including online ordering, local retailer and brand listings, product discovery, and consumer education on cannabis and its history, uses, and legal status. "[3] In November 2010 WeedMaps was acquired by General Cannabis Incorporated for an undisclosed amount. Marijuana stocks with the highest 12-month total return were GrowGeneration, Trulieve Cannabis, Planet 13 Holdings, Russell 1000, and the ETFMG Alternative Harvest. News; Companies; Insiders; Investors; Trend; Activists; Ownership; Member Companies. The 10 Largest Marijuana Stocks in 2020 Following a disastrous 2019 for the cannabis industry, only nine pot stocks still boast billion-dollar valuations. WM Holding Company, LLC, better known as Weedmaps, and Silver Spike Acquisition Corp. (Nasdaq: SSPK), a publicly-traded special purpose acquisition company, announced today a definitive agreement for a business combination that would result in WMH becoming a public company that would remain on the NASDAQ marketplace. As of 2020, Weedmaps has rolled out "Verified Reviews" and other automated review moderation solutions to improve review quality. Publicly Traded Venture Capital Firms. Weedmaps is going public December 13, 2020 FILE-In this Tuesday, Aug. 6, 2019 file photo file photo, Marijuana plants growing under special grow lights, at GB Sciences Louisiana, in Baton Rouge, La. In a news release, Weedmaps parent company WM Holding (WMH) said it would merge with Silver Spike Acquisition Corp. (SSPK), a blank check company formed by investment management firm Silver Spike Capital. It provides an online search for medical marijuana dispensaries in the U.S. Users can also compare prices and post reviews of different dispensaries. Cannabis Stocks. Views about medical marijuana appear to be changing across the South, where efforts to legalize it have long been stymied by Bible Belt politics. In 2016, Hartfield and WeedMaps made a $250,000 contribution to help support the push for recreational marijuana legalization in California, according to The Green Fund. 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