WM Exchange to Provide Secure, Transparent Digital Transactions to Licensed Wholesale Buyers and Sellers of Cannabis Products
IRVINE, Calif.–(BUSINESS WIRE)– Weedmaps today 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. Built on Weedmaps’ leading technology infrastructure — which powers thousands of cannabis businesses around the world — WM Exchange enables highly efficient, transparent and secure wholesale transactions between verified buyers and sellers.
“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. “By bringing the power of e-commerce to the wholesale process, WM Exchange provides a highly secure, transparent marketplace to buy and sell high-quality, verified and lab-tested cannabis products. Most importantly, WM Exchange helps retailers get access to the most popular cannabis products available while giving sellers cost-efficient access to new customers they couldn’t otherwise reach.”
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. Because licensed brands and sellers can upload licensing and lab testing documentation to the platform, transactions can be conducted with trust and confidence.
“Since we launched Weedmaps in 2008, we have transformed the cannabis purchasing experience between consumers, retailers and brands. Our goal is to bring that same level of transformation to the wholesale marketplace,” added Mr. Beals.
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.
For more information, please visit www.weedmaps.com/business/exchange.
Founded in 2008, Weedmaps is a leading technology and software infrastructure provider to the cannabis industry. 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.
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. Headquartered in Irvine, California, Weedmaps employs more than 400 professionals around the world, including in Barcelona, Berlin, Boston, Denver, New York, Phoenix and Toronto. Visit us at www.weedmaps.com.
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