Weedmaps announces wholesale digital market place
By Brandon Dunn
Tuesday afternoon Weedmaps announced the launch of a new digital platform, WM Exchange, a marketplace targeted at licensed cannabis brands, distributors, and retailers.
WM Exchange will enable companies to “safely and efficiently buy and sell cannabis products,” Weedmaps said in a release.
The platform is built on Weedmaps’ existing technology and uses current infrastructure to enable 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.”
Weedmaps explains that in using WM Exchange both buyers and sellers will have complete visibility into pricing, inventory, and product information.
WM Exchange also allows for real time delivery and fulfillment information to be accessed by regulatory and compliance tools. WM Exchange will also allow sellers to upload licensing and testing documentation directly.
WM Exchange is currently in closed beta.
Weedmaps expects to expand and offer additional invitations in the near future.