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Weedmaps expects to receive gross proceeds of up to $575 million from the deal, it said in a Securities and Exchange Commission filing, in part from Silver Spike-raised funds and through $325 million in a private investment in public equity, or PIPE, transaction, which includes funds from the Federated Hermes Kaufmann Funds, Senvest Management LLC, and AFV Partners, the company said. 4 However, officials have yet to identify the optimal set of social equity policies. Weedmaps’ New Docuseries Digs into the Challenges California’s Cannabis Industry Faces Four Years After Legalization ‘Uprooted’ explores how … Social equity support Decades of propaganda have seeded misconceptions and misunderstandings about cannabis. It seemed your net income really dropped in 2019 and then it bounced back in 2020. The Weedmaps initiative will provide minority entrepreneurs with the skills, tools and resources they need to compete for those licenses. Weedmaps has partnered with Triller to be the official sponsor for the November 28 bout between Roy Jones Jr. and Mike Tyson. Weedmaps announces partnership with Triller as official sponsor for Mike Tyson's return to the ring. Weedmaps’ mission is to power a diverse and inclusive cannabis industry. Separately through our policy team, we actually wrote a lot of the initial draft language on social equity programs and have been big advocates for actually having social equity programs within jurisdictions that are opening up. Weedmaps, Weedmaps parent WM Holding Co. going public via merger with Silver Spike Acquisition Corp. Weedmaps is dominant cannabis SaaS player and … All Rights Reserved. Adolf helped craft the social equity program in the city of Oakland and advocates for greater equity in the cannabis industry at large. Beginning later this year, US retail advertisers on Weedmaps will be required to provide a state license number on their listing. the Weedmaps small logo Asked after the fight whether he smoked before stepping into the ring, Tyson reportedly said, “absolutely, yes.” IRVINE, Calif.--(BUSINESS WIRE)--Weedmaps, a leading technology and software infrastructure provider to the cannabis industry, today announced a new set of tools to help social equity cannabis entrepreneurs as they seek to apply for and secure cannabis licenses. The company’s branding will be displayed throughout the event, including in the ring, on the screen during the broadcast, in the locker room, and in the press room. Before we sta Weedmaps also indicated it would launch an initiative to support unlicensed, minority-owned marijuana businesses as they become licensed. Weedmaps Owner, Zipp Delivery; Social Equity Advocate Adolf Ward is the owner of two delivery licenses, one based in Oakland and one in Sacramento, named Zipp Delivery. It also provides software-as-a-service (SaaS) to cannabis retailers and brands. To help facilitate the entrance and success of licensed Social Equity business owners, we are providing tools designed to support entrepreneurs as they enter the cannabis marketplace. “Weedmaps always has and will continue to advocate for a flourishing, legal cannabis market, and taking action to address social equity is integral to making that a reality. Copyright © 2020 Weedmaps. It is projected for the combined company to poses an equity value of roughly $1.5 billion, supposing the $10.00 per share PIPE price. We actually launched something called the WM Teal (Together for Equity Access and Legislation) and that was basically a social equity support program that we launched late last year, which was basically intended to give free software, support, consulting services and to help these businesses participate. Weedmaps is no longer going to allow for or advertise unlicensed cannabis businesses, the company announced on Wednesday, along with plans to provide tools to help social equity entrepreneurs enter the space.. ... social equity and licensing in many jurisdictions.” The deal means it’s parent company will take over Silver Spike’s Nasdaq listing with its … According to their statement, they “connect consumers to retailers and brands, and advocate for accessible cannabis for all patients and adults.” Privacy Policy. WeedMaps is essentially Yelp for people looking toke up. (949) 345-7592 IRVINE, Calif.-- (BUSINESS WIRE)--Weedmaps, a leading technology and software infrastructure provider to the cannabis industry, today announced a new set of tools to help social equity … Nas has released a new PSA with Weedmaps to advocate for cannabis legalization, social equity, and the empowerment of Black entrepreneurs in the cannabis industry. Alex Clark pr@weedmaps.com, Ongoing coaching and professional support. & Among the services and benefits Weedmaps will offer: “For too long, unjust laws and regulations have crippled small-business owners who want to make an honest living and provide safe, legal cannabis products to medical patients and adult use consumers,” said Chris Beals, CEO of Weedmaps. The technology and software provider to the cannabis industry for the past decade has launched a first-of-its-kind initiative to help social equity, low-income and minority-owned businesses in the United States enter and thrive in the fast-growing legal cannabis industry. The PSA will air twice during the Mike Tyson vs Roy Jones Jr. fight occurring this Saturday. WM Policy — the “think tank” within Weedmaps — provides data-driven research, analysis, and guidance to elected and appointed government officials and public sector leaders, industry executives, advocates, the news media, and others seeking to understand the wide range of cannabis … the Weedmaps logo “The best way to address the unlicensed cannabis problem, promote small, minority-owned businesses, and correct social injustice is simple: give more cannabis business licenses to the people who deserve them. Since then, Weedmaps has worked tirelessly, not only to be the most comprehensive platform for consumers, but to build the software solutions that power businesses compliantly in the space; to advocate for legalization, social equity and licensing in many jurisdictions; and to facilitate further learning through partnering with dozens of subject matter experts on providing detailed, … A community connecting cannabis consumers, patients, retailers, doctors, and brands since 2008. Founded in 2008, Weedmaps is a leading technology and software infrastructure provider to the cannabis industry. Visit us at www.weedmaps.com. This requirement joins existing consumer information tools offered by the company, including surfacing lab data on product pages and a “Brand Verified” program that combats counterfeiting. Founded in … are registered trademarks of Ghost Management Group. The company will provide a variety of free services and in-kind offerings to ensure that social equity entrepreneurs have the opportunity to compete in the industry. And get them.”. It seemed your net income really dropped in 2019 and then it bounced back in 2020. Weedmaps CEO Chris Beals: Thank you. In addition, Weedmaps will explore ways to make it easier for patients and adult-use consumers to identify the license number on advertised listings. Green Market Report: I had a question regarding your numbers in 2019 versus your numbers in 2020. News. Social Equity Applicants to Receive Product and Business Support; Changes on Site Will Promote Licensed Businesses and Restrict Unlicensed Business Advertising. Since then, Weedmaps has worked tirelessly, not only to be the most comprehensive platform for consumers, but to build the software solutions that power businesses compliantly in the space, to advocate for legalization, social equity, and licensing in many jurisdictions, and to facilitate further learning through partnering with dozens of subject matter experts on providing detailed, … Terms of Use | Our suite of cloud-based software and data solutions includes 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. LLC. Weedmaps Social Equity Program To help facilitate the entrance and success of licensed Social Equity business owners, we are providing tools designed to support entrepreneurs as … The company is also restricting the use of its point of sale, online orders, delivery logistics, and wholesale exchange software-as-a-service (SaaS) platforms to licensed operators exclusively. This is just one of many steps we are proactively taking to break down stigmas, promote social equity, and encourage all to join us in the fight for change.” Weedmaps was founded in 2008. Still, WeedMaps’ future is just as much linked to efforts to legalize pot nationwide as companies that grow or dispense weed. The estimated post transaction equity value of the combined Company is approximately $1.5 billion, assuming the $10.00 per share PIPE price and no redemptions by Silver Spike shareholders. Green Market Report: I had a question regarding your numbers in 2019 versus your numbers in 2020. One of the most important and impactful promises of cannabis legalization is that it will give minority entrepreneurs the ability to enter the new industry and help reverse the damages inflicted on those disproportionately affected by the failed “War on Drugs.” Unfortunately, as a result of limited access to capital and limited license opportunities provided by local governments, these entrepreneurs are actually finding it nearly impossible to participate in the legal market. Weedmaps, a leading technology and software infrastructure provider to the cannabis industry, today announced a new set of tools to help social equity By Chris Beals, CEO of Weedmaps. On November 18, the BET network aired the two-hour special titled Smoke: Marijuana + Black America. As Mr. Beals stated on August 21, when announcing Weedmaps’ social equity program, the Company is redoubling its efforts to educate state and local governments across the country on … If you are interested in our Social Equity Program, please sign up to learn more. Weedmaps has also sponsored X Games athletes, but this is the cannabis company’s first foray into former boxers old enough to be your dad and risking serious cranial injury sponsorship. We’ve worked closely, for instance, with the NAACP and other groups in New Jersey in advocating for that. WM Holding Company (WMH) is planning to go public following a $1.5 billion merger deal with special purpose acquisition company (SPAC) Silver Spike Acquisition Corp. “The company will provide a variety of free services and in-kind offerings to ensure that social equity … While helping social equity businesses get licensed, the company is also committed to helping licensed businesses thrive. “We hope to give a leg up to entrepreneurs that need and deserve support.” Beals also noted that on the public policy front, the company will redouble its efforts to educate local governments across the country on the need for equitable cannabis licensing for medical access and economic development. We are currently offering a range of software and professional support items, with additional support to follow shortly. Since then, Weedmaps has worked tirelessly, not only to be the most comprehensive platform for consumers, but to build the software solutions that power businesses compliantly in … If you have any questions but do not want to sign up at this time, please email socialequity@weedmaps.com. Thank you. Whilst the producer goldrush calms down, see yesterday's Canopy story / release Canopy Growth We Don’t Grow Much These Days It's now time for the cannabis platform goldrush which we'd suggest has been sped up by the effects of COVID and the spending bonanza over the last 9 months. Cannabis Review Site Weedmaps Plans IPO After Closing $1.5 Billion SPAC Merger. IRVINE, Calif.–(BUSINESS WIRE)–Today, Weedmaps, the largest know-how firm in the authorized hashish economic system, was introduced as an official sponsor of the extremely anticipated Mike Tyson vs. Roy Jones Jr. battle introduced by the viral leisure platform Triller. Hip Hop icon/businessman Nasir “Nas” … “Minorities make up the majority of the unlicensed business owners in the cannabis industry--and the overwhelming majority of them want to operate out of the shadows,” noted Julian Canete, president and CEO of the California Hispanic Chambers of Commerce. In addition, our platform provides consumers with information regarding cannabis products across our web and mobile platforms, including listing local retailers and brands, facilitating product discovery and allowing consumers to educate themselves on cannabis and its history, uses and legal status. Weedmaps - an e-commerce platform focused on the marijuana industry - will become a publicly traded company through a merger with blank-check … Weedmaps CEO Chris Beals: Thank you. It is projected for the combined company to poses an equity value of roughly $1.5 billion, supposing the $10.00 per share PIPE price. “It also underscores our commitment to working with lawmakers and regulators to foster a flourishing legal market.”. As Mr. Beals stated on August 21, when announcing Weedmaps’ social equity program, the Company is redoubling its efforts to educate state and local governments across the country on … For more information about Weedmaps’ social equity programs, qualified businesses are encouraged to visit www.weedmaps.com/socialequity. Founded in 2008, WMH operates Weedmaps, a digital site for marijuana businesses and their customers. As Weedmaps moves towards its 12th year as the largest tech company serving the cannabis industry, we are happy to celebrate Illinois becoming the 11th state to commence adult-use cannabis sales. During the event, Weedmaps will debut a content collaboration narrated by Nas that focuses on the relationship between systemic racism, social equity, and cannabis prohibition. In an effort to accelerate more minority and inclusive participation in the cannabis industry and provide the resources that government-sponsored social equity programs may not, Weedmaps is launching a program aimed at supporting these entrepreneurs as they apply for and obtain licenses. State and local governments with adult-use cannabis laws have made some progress towards advancing social equity objectives – most recently in Illinois, where the recently-passed adult-use cannabis law contains some of the nation’s most far-reaching provisions promoting social equity. “These enhancements to existing safeguards on our platform will help patients and adult-use consumers find cannabis retailers that have provided evidence of state licensure,” Beals added. 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