Wikileaf Explained

Wikileaf
Type:Public
Industry:Cannabis consumer information
Founder:Dan Nelson
Hq Location City:Seattle, Washington
Parent:Nesta Holding Co.

Wikileaf Technologies is a Seattle business providing data services to the cannabis industry and information to consumers. The company provides price indexes and cannabis strain reviews and information.

Background

Wikileaf was founded in Seattle's South Lake Union area in 2014 by Dan Nelson,[1] some months before adult use legalization in Washington state under Initiative 502.[2] [3] That Spring, it was also featured as one of Entrepreneur Magazines Most Brilliant Business Ideas of 2014.[4] By 2016, with seven employees, it was acquired by Nesta, a Canadian fund.[5] The company provides an online resource for medical and recreational marijuana patients and consumers where users can compare marijuana dispensary prices and menus as well as research cannabis strains.[6] Wikileaf displays menus and prices for recreational and medical dispensaries in eleven states.[7] [8] The company has been dubbed "The Priceline of Pot"[9] although their price comparison model is a "reverse auction".[10] Users specify how much they are going to spend on their next marijuana dispensary visit and, then, all the marijuana dispensaries within his/her radius put forth the most amount (in grams) they can at this price point.

Wikileaf was acquired by Nesta Holding Co. Ltd. on May 2, 2016[11] for an undisclosed sum. Nesta is private equity firm located in Ottawa, Canada working with partnerships and brands within the cannabis community. It was founded in 2015 by Chuck Rifici, co-founder and former CEO of Canopy Growth Corporation (formerly Tweed Marijuana Inc.).[12]

In 2017, Wikileaf launched the first in-flight cannabis commercial to Virgin America.[13] In 2018, the company cracked down on illegal dispensaries on their platform.[14]

In 2019, Wikileaf raised $6.8 million in funding and announced their plans to open satellite offices in markets with high dispensary densities as well as newly legal states.[15] Through a reverse takeover of an existing Canadian company, it became listed on the Canadian stock exchange in late 2019.[16]

Business model

Wikileaf is currently providing dispensaries with free menu pages to showcase their products and prices. They plan to start offering companies that want increased exposure the opportunity to do so at a cost and will also have additional geo-targeted advertising opportunities for dispensaries looking to increase their exposure beyond their menu page.

Use

Cannabis consumers can use the site in three primary ways.

Mobile usage

Wikileaf has launched its mobile app for Android on October 17, 2016 and for Apple on Nov 09, 2016.

See also

Further reading

External links

Notes and References

  1. News: Wikileaf: A Dispensary Locator Done Different - Interview with Dan, Founder and CEO - Mary Jane's Diary. 2015-06-01. Mary Jane's Diary. 2017-03-21. en-US.
  2. Web site: As Wikileaf prepares for IPO, CEO Dan Nelson discusses cannatech's future. Fustich. Katie. July 26, 2019. Built in Seattle.
  3. News: Comparing the prices of marijuana gets easier. Lee. Jolie. September 4, 2015. USA Today.
  4. News: Dixie Elixirs Wants to Become the First National Marijuana Brand. Reuteman. Rob. 2014-05-21. Entrepreneur. 2017-01-11.
  5. News: This Seattle startup wants to bring price transparency to marijuana. McGrane. Clare. August 14, 2016. GeekWire.
  6. http://boingboing.net/2016/03/08/wikileaf-makes-finding-the-bes.html "Wikileaf makes finding the best weed, at the best prices, easy"
  7. News: Wikileaf, the 'Priceline of Pot', Is Going Public Next Week. Gabriela . Barkho. September 18, 2019. The New York Observer. Observer Media. New York, New York.
  8. News: Puget Sound Business Journal. American City Business Journals . Seattle. Pot price comparison website Wikileaf plans to go public this fall. Coral . Garnick . May 23, 2016.
  9. News: Comparing the prices of marijuana gets easier. USA TODAY. 2017-01-11.
  10. News: How the 'Priceline of Pot' Is Bringing Comparison Shopping to the Marijuana Boom. AdWeek. 2017-01-11.
  11. Nesta Acquires Wikileaf, the Only Price Comparison Site for US Cannabis Consumers - First Landmark Acquisition Catapults Nesta into the Billion-Dollar Legalized Cannabis Market. Ltd.. Nesta Holding Co.. www.prnewswire.com. en. 2017-03-21.
  12. Web site: Tweed Co-Founder Chuck Rifici Launches U.S. Cannabis Efforts with.
  13. https://merryjane.com/news/wikileaf-virgin-america-in-flight-canna-business-commercial "WikiLeaf Brings the First In-Flight Cannabis Commercial to Virgin America This Summer"
  14. https://mjbizdaily.com/weedmaps-removing-unlicensed-shops-may-impact-cannabis-industry/ "California Marijuana Notebook: How Weedmaps’ major change in course may impact the cannabis industry"
  15. https://ca.proactiveinvestors.com/companies/news/902800/wikileaf-prepares-to-go-public-after-seeing-incredible-growth-in-their-platform-902800.html "Wikileaf prepares to go public after seeing incredible growth in their platform"
  16. News: GeekWire. Seattle cannabis company Wikileaf set to go public in Canada via alternative method to IPO. Nat. Levy. Seattle. September 16, 2019.
  17. Web site: Wikileaf Is Like Yelp For Kine Bud. Biggs. John. TechCrunch. 13 February 2014 . 2017-01-11.

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