Welcome to our dedicated page for WM Technology news (Ticker: MAPS), a resource for investors and traders seeking the latest updates and insights on WM Technology stock.
WM Technology, Inc. (Class A Common Stock, symbol: MAPS) is a leading technology and software infrastructure provider in the cannabis industry, primarily operating through its two core platforms, Weedmaps and WM Business. Weedmaps is a comprehensive B2C platform that connects consumers with cannabis dispensaries, delivery services, and doctors' offices across the United States. It serves as an online legal marijuana community where users can review and discuss cannabis strains and local dispensaries, similar to Yelp. The platform boasts a database of over 3,000 medical marijuana dispensaries and 25,000 cannabis strains, attracting approximately four million monthly visitors.
WM Business, on the other hand, caters to B2B clients by offering software solutions and listing services. The company generates revenue through monthly subscriptions to Weedmaps for Business, which are typically renewed automatically unless canceled in advance. Additional revenue streams include featured and deal listings, as well as other ad solutions like banner ads and promotion tiles on the Weedmaps marketplace.
Founded in July 2008 by Justin Hartfield and Doug Francis, WM Technology has grown into an industry leader with annual revenues of $30 million. The company's continued growth is fueled by its robust platform that caters to a wide range of users, from patients to businesses. WM Technology also hosts events that foster connections among medical marijuana patients, further solidifying its role in the industry.
Recent achievements include the expansion of its product offerings and the enhancement of its ad solutions to provide more value to its customers. The company's financial condition remains strong, supported by its diverse revenue streams and continuous growth in user engagement and platform subscriptions.
WM Technology announced it received a delinquency notification from Nasdaq on May 14, 2024, due to its failure to timely file the Quarterly Report for Q1 2024 and the Annual Report for 2023. This breach of Nasdaq Listing Rule 5250(c)(1) has no immediate effect on the company's Nasdaq listing. The delays stem from changes in executive finance leadership, affecting the preparation of financial statements. WM Technology previously received a similar notice on April 8, 2024, regarding the delayed Annual Report. Nasdaq has given the company until June 3, 2024, to submit a compliance plan, which, if accepted, could extend up to September 30, 2024. The company aims to file both reports as soon as possible.
Weedmaps, a leading online cannabis marketplace, announced the 2024 winners of the 'Best of Weedmaps: The People's Choice' awards. The program recognizes businesses, delivery services, and brands that enhance the cannabis shopping experience on the platform. Winners are chosen based on outstanding service, product quality, and seamless delivery experiences. The winners had significantly more orders, deals claimed, and brand page follows compared to their competitors. Weedmaps used a methodology matrix to assess the winners, including factors like listing quality, customer service ratings, and consumer engagement. Public voting determined the winners, and the full list can be viewed on weedmaps.com/best-of-wm.
FAQ
What is the current stock price of WM Technology (MAPS)?
What is the market cap of WM Technology (MAPS)?
What does WM Technology, Inc. do?
What is Weedmaps?
How does WM Technology generate revenue?
When was WM Technology founded?
What is WM Business?
How many visitors does Weedmaps attract monthly?
What kind of advertising solutions does WM Technology offer?
What are some key features of Weedmaps?
Is WM Technology considered an industry leader?
What events does WM Technology host?
