MedMen is also beginning life as a public company in Canada. 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. [1], Headquartered in Irvine, California, Weedmaps has more than 400 employees, and has offices in Denver, Tucson, New York, Barcelona and Toronto. Views about medical marijuana appear to be changing across the South, where efforts to legalize it have long been stymied by Bible Belt politics. Are Cannabis Stocks a Good Investment Right Now. 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. [19] It is currently available in California and Oklahoma. Farzana on November 20th, 2019 - 11:16pm . 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. WeedMaps is a marijuana technology and media brand. "[11], In October 2011, Weedmaps entered into an online partnership with NORML.org, helping to revamp the site. Weedmaps is the most widely used and downloaded marijuana mobile application on the Google Play and the Apple App Store. Fakespot has to date not responded to requests for an updated audit. The company is headquartered in Irvine, California. 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. 123.95k followers • 20 symbols Watchlist by Yahoo Finance. Weedmaps is the leading technology and software infrastructure provider to the cannabis industry. [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. An independent analysis of the text of reviews estimates that 62% of reviews are fake. WeedMaps offers search options for free to users. Justin Hartfield founded WeedMaps in 2008 and took the company public in 2010. Dec. 10, 2020, 02:24 PM (RTTNews) - WM Holding Company, LLC, which operates online cannabis shop directory Weedmaps, and Silver Spike Acquisition Corp. (SSPK), a … Several companies have marijuana subscription services that deliver products directly to consumers. As of 2020, Weedmaps has rolled out "Verified Reviews" and other automated review moderation solutions to improve review quality. News; Companies; Insiders; Investors; Trend; Activists; Ownership; Member Companies. 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 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. [12], In August 2019, Weedmaps launched a 30,000 square-foot Museum of Weed in West Hollywood, "aimed at destigmatizing cannabis", telling the story of cannabis prohibition over the last century. It provides an online search for medical marijuana dispensaries in the U.S. Users can also compare prices and post reviews of different dispensaries. The 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. Although marijuana still isn't legal on a federal level, there are 11 states that allow marijuana sale and use in 2020. The museum finished its 3-month run at the end of October. "[3] In November 2010 WeedMaps was acquired by General Cannabis Incorporated for an undisclosed amount. [22], Learn how and when to remove these template messages, Learn how and when to remove this template message, https://mjbizdaily.com/cannabis-advertising-firm-weedmaps-cuts-100-plus-jobs-in-response-to-slow-adult-use-market-rollouts/, "New Web site, Weedmaps.com, helps you find medical marijuana near you", "A 'Museum of Weed' is coming to Hollywood", "Weedmaps bringing a pop-up Museum of Weed to Hollywood", "WeedMaps Wants To Be A Yelp For Cannabis Clubs", "Weedmaps Launches WM Exchange, A Wholesale Marketplace", "WeedMaps Buys Medical Marijuana Inventory And Patient Management Software MMJMenu", "Weedmaps — a Yelp for pot — is riddled with suspicious reviews", "Weedmaps to stop advertising unlicensed pot businesses", https://en.wikipedia.org/w/index.php?title=Weedmaps&oldid=992772265, Articles with a promotional tone from October 2013, Wikipedia articles with style issues from October 2013, Articles with multiple maintenance issues, Articles with unsourced statements from January 2020, Creative Commons Attribution-ShareAlike License, This page was last edited on 7 December 2020, at 00:42. Shares of Northern Star traded at around $16 recently, about 23% higher than the $13 opening price at its IPO earlier this month. 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, a study by Fakespot found many reviews on the site to be suspicious. Publicly Traded Cannabis and Medical Marijuana Dispensaries Companies - SIC Code 512227. 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 … It was acquired by privately-held GrowOne in 2015. Founded in 2008, WMH operates Weedmaps, the leading online listings marketplace for cannabis consumers and businesses, and WM Business, … Eventually, Hartfield believes, the company could be acquired by … 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 … The estimated post-transaction equity value of the combined … As part of acquisition, founder Justin Hartfield became WeedMaps' Chief Web Officer. 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. Justin Hartfield founded WeedMaps in 2008 and took the company public in 2010. Cannabis … [6], In November 2011 Weedmaps acquired Marijuana.com for $4.2 million. Now renamed General Cannabis, CANA trades at $4.05 on the pink sheets and — unlike its publicly traded pot peer ... and they have something called Weedmaps TV. 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. Yahoo News said, “Weedmaps has been a driving force behind much of the legislative change we've seen in the past 10 years.” WeedMaps' current CEO is Chris Beals. Fakespot CSO Ming Ooi gave Weedmaps an F-grade. The deal will value Weedmaps at $1.5 billion. Marijuana Stocks Spike, Where to Look for Dividends. Flowsent, Nugg Club, and Lucky Box Club are among those companies. 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 has used its platform and revenue to help promote marijuana legalization across the U.S. Reply. 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. WeedMaps was once part of a small publicly traded company, but it went private last January. 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. On December 31, Medmen’s share price rose by 22.81% to 0.70 Canadian dollars on the CSE (Canadian Securities Exchange). Weedmaps is a tech company serving the cannabis industry, founded in 2008 by Justin Hartfield and Keith Hoerling. [17][18] The application offers similar functionality to the website, but does not allow ordering, due to Google and Apple's restrictions. In December 2011, Weedmaps acquired MMJMenu, a Denver-based software entity that "provides back-end enterprise software for medical marijuana dispensaries. 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. Publicly traded psychedelic company Cybin acquired Adelia Therapeutics, a company developing ketamine analogue drugs. Which Are The Biggest Cannabis Companies in the U.S.? Weedmaps - an e-commerce platform specializing in the cannabis industry - will become a publicly traded company through the takeover. Therein lies part of the problem. [citation needed]. The 10 Largest Marijuana Stocks in 2020 Following a disastrous 2019 for the cannabis industry, only nine pot stocks still boast billion-dollar valuations. Investing in publicly traded venture capital firms provides a form of diversification since the returns won’t be overly correlated to the public markets. In April 2019, Weedmaps launched their wholesale exchange platform, WM Exchange. Publicly Traded Venture Capital Firms. Weedmaps is a tech company serving the cannabis industry, founded in 2008 by Justin Hartfield and Keith Hoerling. The site also has sections for industry news, learning about cannabis and strain information. [9][10], Also in June 2013, Business Insider dubbed Hartfield "The First Venture Capitalist of The Pot Industry. Village Farms International was ranked as the top value marijuana stock. Weedmaps is going public through a merger with Silver Spike Acquisition Corp., a SPAC. 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. Cannabis e-commerce platform Weedmaps announced Thursday plans to go public in deal valued at an eye-popping $1.5 billion. Marijuana stocks with the highest 12-month total return were GrowGeneration, Trulieve Cannabis, Planet 13 Holdings, Russell 1000, and the ETFMG Alternative Harvest. WeedMaps is like Yelp but for the marijuana industry. [21] An auditing company called Fakespot found that only 38% of reviews were valid on Weedmaps. [2], A 2009 New York Daily News article said of Weedmaps, "There's a new stoner's paradise on the Web" that is a website "where medical marijuana patients can connect with other patients in their area, to freely discuss and review local cannabis co-operatives and dispensaries. 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. 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. We don't know yet if WeedMaps will pursue an IPO in the near future. 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. Village Farms International (VFF.TO) had the lowest 12-month trailing price-to-sales ratio. “Suffice to say a … The company was founded in 2008 with a strong belief in the power of cannabis and the importance of enabling safe, legal access to consumers worldwide. Leafly is a major competitor to WeedMaps. “ 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 … Headquartered in Irvine, California, Weedmaps has more than 400 employees, and has offices in Denver, Tucson, New York, Barcelona and Toronto. Cannabis Stocks. Shares can be bought, sold, and traded on stock exchanges, such as … The website also offers information on different strains of marijuana and the sale and usage of its products. In 2018, Leafly committed to only listing licensed marijuana dispensaries. 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. The acquisition included the Marijuana.com domain name as well as all of the site's content. [16] Consumers can also place online orders for products from dispensaries or delivery services via the site. Northern Star’s … 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. The technology and software provider to the cannabis industry has signed a definitive agreement with a publicly traded special purpose acquisition company (SPAC), Silver … “Weedmaps Deals” immediately connects patients in every medical marijuana state with hundreds of the best offers and discounts in their local areas every day. The marijuana industry has seen growth partially driven by WeedMaps’ commitment to the cause. I guess for Beals’ sake, it’s a good thing a Weedmaps IPO hasn’t come to fruition. 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. Recently, Investopedia reported on some of the best marijuana stocks for 2020. 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. If you’re not accredited, you might think about investing in one or more publicly traded firms out there that provide exposure to startups. This partnership signified Weedmaps' effort to aid legalization efforts and take a more active approach within the marijuana community. Once the RTO is complete which is expected in the second quarter of this year, MedMen will essentially become a publicly traded company itself. This list is made from self-reported SIC codes that companies file with the SEC. The company makes money by charging the dispensaries for placement and advertising along with rebuttals of poor reviews. 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. Weedmaps.com provides adult use and medical marijuana dispensary locations (including updated menus and reviews), doctors' offices, brands, and delivery services throughout the United States and Canada. "[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. https://finance.yahoo.com/video/weedmaps-public-via-spac-1-180817424.html WeedMaps made three acquisitions in 2011 — mmjmenu, WeedLaws, and Marijuana.com, according to Crunchbase. 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.”. [4][5], Although the company does not disclose revenue figures, some media outlets have reported historical sales estimates for the company. [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." While publicly traded VCs may not be correlated with other stocks in your … The company General Cannabis acquired WeedMaps, which effectively made WeedMaps a publicly traded company. Follow this list to discover and track the stock of publicly traded companies with exposure to cannabis For example, a 2010 TechCrunch article reported that Weedmaps grew monthly revenue of $20,000 in 2009 to $400,000 per month in 2010, with approximately 50,000 registered users at the time. If Weedmaps was a publicly-traded company, there would be a massive management shakeup and the CEO would be held accountable. 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. Eaze Technologies is another privately-held marijuana delivery company located in California. [4][7], In February 2013 General Cannabis sold all cannabis-related businesses, including WeedMaps, back to the original founders. The company General Cannabis acquired WeedMaps, which effectively made WeedMaps a publicly traded company. Canopy Growth, Cronos Group, and Tilray are among the largest marijuana companies. The software handles everything from patient management to inventory control to checkout at point of sale. There are no news on the next destination for the museum.[13][14][15]. Of sale was a publicly-traded company, but it went private last January delivery services the! 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