WM Technology, Inc. Launches Weedmaps for Business, the Fully Integrated Suite of End-to-End SaaS Solutions for Cannabis Retailers and Brands

Rhea-AI Summary

WM Technology (Nasdaq: MAPS) has launched Weedmaps for Business, a revamped suite of SaaS solutions aimed at cannabis retailers and brands. This rebranding reflects a comprehensive platform that integrates tools to help businesses manage operations, marketing, and customer engagement. The new offerings include services for managing inventory, customer relationships, and performance analytics. Notably, the integration of recent acquisitions enhances their ability to support cannabis businesses at every stage of the consumer funnel.

Positive

• Launch of Weedmaps for Business which offers integrated SaaS solutions.
• Recent acquisitions enhance service offerings and market reach.
• Tools designed to streamline operations for cannabis businesses.

Negative

• None.

IRVINE, Calif.--(BUSINESS WIRE)-- WM Technology, Inc. (“WM Technology” or the “Company”) (Nasdaq: MAPS), the leading marketplace and technology solutions provider to the cannabis industry, today announced the launch of Weedmaps for Business. Formerly WM Business, the Company’s reconfiguration and renaming of its SaaS offerings better reflects the comprehensive B2B and B2C suite of products that affords cannabis retailers and brands of all sizes with fully integrated tools to run their businesses.

WM Technology, Inc. Launches Weedmaps for Business, the Fully Integrated Suite of End-to-End SaaS Solutions for Cannabis Retailers and Brands (Graphic: WM Technology)

“Since 2008, we have been working to build a complete SaaS platform that provides a suite of compliant, data-driven solutions that enables our clients to reach, convert, and retain customers both online and in-store,” said Chris Beals, CEO of WM Technology. “While consumer discovery will always be the key value that we offer to our clients, the Weedmaps model has migrated naturally upstream to power and grow businesses holistically.”

This realignment includes the integration of WM Technology’s recent acquisitions — Sprout, Enlighten, Cannveya, and CannCurrent — and enables the technology company to provide an interconnected suite of logical, end-to-end solutions. With the addition of these companies, WM Technology now supports businesses at every stage in the consumer funnel which enables cannabis businesses to:

• Strategically reach prospective cannabis customers through Weedmaps’ marketplace via WM Listings, WM Deals and WM Ads, and extend that reach through WM AdSuite.
• Compliantly manage pick-up, delivery, and inventory in accordance with local regulations through WM Orders and WM Dispatch.
• Help improve customer experience by creating online ordering functionality on a brand or retailer’s website with WM Store and extend that functionality in-store with kiosks from WM Screens.
• Foster customer loyalty and re-engage consumers with WM CRM and its integration with the Weedmaps marketplace.
• Leverage the Weedmaps for Business products in conjunction with any other preferred software solutions via our third party integrations and create a scalable customized workflow with WM Connectors.
• Make informed marketing and merchandising decisions using performance analytics and consumer and brand insights to promote products to specific consumer groups with WM Insights.

According to Christopher Fenske, Chief Strategy Officer at California-based dispensary Jaderoom, the company has leveraged Weedmaps’ suite of tools to help enable growth from a single delivery operation to a vertically integrated brand in just under two years.

“The biggest hurdle in the cannabis industry right now is connecting all the software seamlessly between your CRM, orders fulfillment, and delivery management system, yet Weedmaps took this challenge head on,” Fenske said. “We started with Weedmaps because we knew the strength of their customer base, and as I look at what we’ve been able to build in less than two years, much of the credit for our success we attribute to Weedmaps.”

The newly structured business offerings from WM Technology are grounded in the company’s long standing industry experience and consumer insights, and are available by monthly subscription.

“Weedmaps was established fourteen years ago with the goal of making cannabis more accessible, and a large part of that is ensuring that cannabis businesses can effectively reach customers using data driven marketing and operational strategies,” said Beals. “We believe our product offerings will help cannabis retailers and brands reach valuable consumers, streamline and simplify their operations extremely efficiently, which is critical in current market conditions.”

To learn more about Weedmaps for Business and the Company’s suite of SaaS solutions, please visit: https://weedmaps.com/business/.

About WM Technology

Founded in 2008, WM Technology operates the leading online cannabis marketplace for consumers together with a comprehensive set of eCommerce and compliance software solutions for cannabis businesses, which are sold to retailers and brands in the U.S. state-legal and Canadian cannabis markets. The Company’s mission is to power a transparent and inclusive global cannabis economy.

The Company’s technology addresses the challenges facing both consumers seeking to understand cannabis products and businesses who serve cannabis users in a legally compliant fashion. Over the past 14 years, the Weedmaps marketplace has become the premier destination for cannabis consumers to discover and browse information regarding cannabis and cannabis products, permitting product discovery and order-ahead for pick-up or delivery by participating retailers. Weedmaps for Business is a set of eCommerce-enablement tools designed to help retailers and brands get the best out of the Weedmaps’ consumer experience, create labor efficiencies, and manage compliance needs.

WM Technology holds a strong belief in the power of cannabis and the importance of enabling safe, legal access to consumers worldwide. Since inception, WM Technology has worked tirelessly, not only to become the most comprehensive platform for consumers, but to build the software solutions that power businesses compliantly in the space, to advocate for legalization, social equity, and licensing in many jurisdictions, and to facilitate further learning through partnering with subject matter experts on providing detailed, accurate information about the plant.

Headquartered in Irvine, California, WM Technology supports remote work for all eligible employees. Visit us at www.weedmaps.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220810005292/en/

Media Relations:

Travis Rexroad, Corporate Communications

press@weedmaps.com

Investor Relations:

investors@weedmaps.com

Source: WM Technology, Inc.

FAQ

What is Weedmaps for Business launched by WM Technology?

Weedmaps for Business is a suite of SaaS solutions designed for cannabis retailers and brands to manage their operations, marketing, and customer relations.

Which companies were acquired to enhance WM Technology's offerings?

WM Technology recently acquired Sprout, Enlighten, Cannveya, and CannCurrent to enhance its service portfolio.

How does Weedmaps for Business support cannabis retailers?

It provides tools for inventory management, CRM, marketing analytics, and more to help cannabis retailers streamline their operations.

What is the significance of the name change from WM Business to Weedmaps for Business?

The name change better reflects the comprehensive nature of the B2B and B2C solutions offered to cannabis businesses.