The key moments, with employee sentiment along the way.
2008
🌱
2008
Founded as the Yelp of weed
Doug Francis and Justin Hartfield build a dispensary-listings site a decade before cannabis investing goes mainstream.
Wikipedia
Jun 2021
📈
Jun 2021
The peak: a $1.5B SPAC debut$1.5B
Merges with Silver Spike Acquisition Corp at the very height of cannabis-investment enthusiasm.
SEC filing
2022
2022
The cannabis crash
Wholesale prices collapse and the illicit market undercuts the licensed dispensaries Weedmaps sells to; growth stalls.
Seeking Alpha
2022
💔
2022
Slips out of the club
The stock loses most of its value within a year of the debut.
Seeking Alpha
2022–24
💬
From the inside · Glassdoor reviews, 2022–24
Glassdoor reviews charted the whiplash of the slide: layoff rounds arriving as often as quarterly — one landing two days before Thanksgiving 2022 — and remote-era perks, from monthly Fridays off to parental leave, steadily clawed back.
Apr 2026
Apr 2026
Waves goodbye to Nasdaq
Voluntarily delists to the OTC market, its value a small fraction of the $1.5B debut.
SEC filing
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
WM Technology operates Weedmaps, the dominant listings-and-software marketplace connecting cannabis consumers with licensed dispensaries. It went public in June 2021 via a $1.5B SPAC merger at the height of cannabis-investment enthusiasm, but collapsing wholesale prices and persistent illicit-market competition gutted its growth; the stock lost most of its value and the company delisted from Nasdaq to the OTC market.
Source: SEC / Seeking Alpha / Silver Spike ($1.5B SPAC merger with Silver Spike Acquisition Corp, June 2021; cannabis price collapse and illicit competition gutted it; voluntarily delisted from Nasdaq to OTC)
