Weedmaps, a marijuana advertising company, has said recently that it aims to see 175% revenue growth via higher ad prices and a wider footprint.
The California-based company is hoping to increase its revenue over the next three years.
Silver Spike Acquisition Corp., the company who has purchased Weedmaps last year, has seen its shares (NASDAQ: SSPK) more than double.
Shares of SSPK climbed another 22% after the company filed a Form S-4 with the U.S. Securities and Exchange Commission on Jan. 19th. The filing included audited financials and more detail about the deal and company operations.
Silver Spike Acquisition Corp. plans to take Weedmaps public on the Nasdaq through the deal.
Weedmaps and a Southern California vape shop have recently been targeted with a wrongful death lawsuit in civil court by a mother who claims both are to blame in the shooting death of her son.
According to Law360.com, the lawsuit alleges that both companies are complicit in the death of 19-year-old William Benjamin Harris IV who had been fatally shot in June 2019 by cannabis delivery worker David Christopher Gregorich.
Both Weedmaps and Universal Stop were negligent in the situation, the civil suit alleges, and therefore bear some responsibility for the death.
A spokesperson for Irvine-based Weedmaps declined to comment about the case.