An airplane descends to land at Los Angeles International Airport above a billboard advertising the marijuana delivery service Eaze on July 12, 2018, in Los Angeles.

California’s largest cannabis delivery company, which at one point was valued at $700 million and was dubbed the “Uber of weed,” is shutting down, according to a note from its CEO on Sunday.

Eaze is currently “winding down operations” with a “full closure” expected by Dec. 31, CEO Cory Azzalino said in a letter posted to his LinkedIn account. The company is laying off nearly 500 workers, according to Jim Araby, a vice president at United Food Commercial Workers International Union.

The failure of Eaze is only the latest high-flying California startup to fall during an economic collapse in the California market, following the likes of mega-retailer MedMen, which failed earlier this year, and Herbl, formerly the state’s largest distributor, which shut down in 2023.

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