More about Leafly
Leafly, the industry’s best cannabis resource, launched the Leafly Cannabis Handbook, an unique visual language that reinterprets how the public acknowledge cannabis and find the desired feelings and effects. The Leafly Cannabis Manual represents a major expansion of cannabis terminology, going beyond indica, sativa, and hybrid to capitalize on the most recent scientific knowledge of the plant. Leafly is assisting people in making more confident cannabis purchases by utilizing lab sourced data as well as proprietary generative design software, as well as over a million customer generated reviews. Seattlebased Leafly Leafly 120mdeppengeekwire.
Competitors of Leafly
Competitors of Leafly Dutchie is an Oregon based cannabis e-commerce forum. In March, they were able to secure 200 million in new funding. At the time, the platform had received 1.7 billion in funding. Weedmaps is another cannabis company. It went public and began to trade easily accessible cannabis for everybody. Dutchie marijuana platform is accessible via an app for the convenience of all users. Weedmaps can be downloaded from Google Play or the Apple App Store. Seattlebased 23m Leafly 120mdeppengeekwire.
Leafly’s Massive Layoffs in 2020
The funding will be used to expand Leafly’s 160 person workforce, according to the company’s management. It’s a significant development for the company, as it ends a long string of layoffs. Leafly laid off 18 percent of its employees in January 2020, totaling 54 positions. Tim Leslie, the former CEO, cited the market realities that cannabis businesses face. Due to the uncertainty caused by the pandemic, 90 more employees were laid off two months later. Leafly’s budget, on the other hand, has skyrocketed as a result of the recent legalization of cannabis in several states. As a consequence, the startup is presently led by CEO Yoko Miyashita. Seattlebased Leafly 23m Leafly.
Leafly was spun off from ‘Privateer Holdings’, a weed investment firm, in 2019. The monthly fee paid by cannabis retail outlets on the platform generates the majority of the company’s revenue. It is more convenient for them because they have admin rights to online tools as well as exposure to over a million users. The platform also makes money from website advertising. Americans spent 18 billion dollars on cannabis in 2020, according to Leafly data. In comparison to 2019, the sector increased by a whopping 71 percent. The pandemic is the primary cause of this massive influx. As businesses laid off workers, the general public managed to bring cannabis to help them survive the pandemic’s chaos. In short, it is truly for survival as well as mental health. Seattlebased Leafly 23m 120mdeppengeekwire.
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Simultaneously, recent legislation across the greats is hastening the expansion of the legal cannabis industry. As a result, Leafly was able to raise more than 25 million in funding to help it sustain the previous layoffs. Seattlebased Leafly 120mdeppengeekwire.
Leafly during pandemic
Leafly has closed a $23 million funding round. The new cash injection comes as the weed economy sees a rise in sales as even more states legalize marijuana and dispensaries were designated as vital enterprises during the pandemic. The company plans to grow its online marketplace, which allows customers and retailers to buy and sell cannabis. Leafly is also an educational resource.