About Weedmaps
Weedmaps, announced the launch of WM Exchange, a digital marketplace where licensed cannabis brands, distributors and retailers can safely and efficiently buy and sell cannabis products.
Weedmaps is a leading technology and software infrastructure provider to the cannabis industry. There suite of cloud-based software and data solutions include point of sale, logistics and ordering solutions that enable customers to scale their businesses while complying with the complex and disparate regulations applicable to the cannabis industry.
The Marketplace
WM Exchange, built on Weedmaps technology infrastructure, will enable secure wholesale transactions between verified buyers and sellers.
For brands
- Streamline the Sales Process for your product catalog
- Find vetted retail partners to help you grow
- Manage and analyze purchase orders from one platform
For retailers
- Shop trusted brands in one place
- Streamline your buying process
- Easily keep your shelves stocked and your customers happy
“We believe WM Exchange will fundamentally change and improve the way cannabis buyers and sellers engage in wholesale transactions,” said Chris Beals, CEO of Weedmaps.
Using WM Exchange, buyers and sellers alike will have complete visibility into pricing, inventory availability and product information, along with powerful regulatory and compliance tools and real-time delivery and fulfillment information.WM Exchange will also allow sellers to upload licensing and testing documentation directly.
WM Exchange is currently open to select cannabis businesses during a beta period. The company expects to open the platform to additional participants in the coming months.
Let’s Take A Look At The History Of Weedmaps
Weedmaps was launched in July 2008 by Justin Hartfield and Keith Hoerling.
In November 2010 WeedMaps was acquired by General Cannabis Incorporated for an undisclosed amount. As part of the acquisition, founder Justin Hartfield became WeedMaps’ Chief Web Officer.
In March of 2019, Chris Beals was named CEO of Weedmaps, and Doug Francis was named Chairman of the company.
In November 2011 Weedmaps acquired Marijuana.com for $4.2 million. The acquisition included the Marijuana.com domain name as well as all of the site’s content.
In December 2011, Weedmaps acquired MMJMenu, a Denver-based software entity that provides back-end enterprise software for medical marijuana dispensaries. The software handles everything from patient management to inventory control to check out at point of sale.
In February 2013 General Cannabis sold all cannabis-related businesses, including WeedMaps, back to the original founders.
Within the last few years, Weedmaps has been a controversial topic, especially after 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.
On March 08, Weedmaps responded to a cease-and-desist letter sent by the California Bureau of Cannabis Control responding to a threat on possible criminal and civil penalties if Weedmaps didn’t remove advertisements from unlicensed shops.
In March of 2019, Chris Beals was named CEO of Weedmaps, and Doug Francis was named Chairman of the company.
Do you think the launch of WM Exchange is the right move for Weedmaps?
