The popular cannabis review website and marketplace Weedmaps has announced that it’s reached a deal to go public by merging with the Nasdaq-listed blank-check firm Silver Spike Acquisition Corp. The merger is expected to hand over $250 million in cash held by Silver Spike to Weedmaps plus an extra $325 million committed by other investors.

Post-merger, Weedmaps is expected to be valued at $1.5 billion on the Nasdaq Stock Exchange.

Weedmaps is a popular cannabis site that was founded back in 2008. It’s grown from a simple cannabis review site into a major two-sided marketplace and SaaS provider for the cannabis industry. 

In 2010, two years after it was founded, Weedmaps was acquired by the Colorado-based company General Cannabis but was sold back to its founders in 2013. Now, in 2020, it’s aiming to go public with a $1.5 billion market value that’ll mark it as one of the highest-valued cannabis companies globally.

Weedmaps is notably riding the wave of increasing positive sentiment to the recreational cannabis industry, wherein more regions in the US and a handful of other countries are beginning to soften laws that outlaw the use of marijuana for recreational purposes. The company says it expects to post $160 million in revenue for 2020.

Weedmaps expects its merger to be completed next year.

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