WM TECHNOLOGY Business Summary

WM Technology, Inc. (MAPS) operates a dual-sided ecosystem comprising the Weedmaps B2C marketplace and the WM Business B2B software suite, primarily generating revenue through a high-margin subscription and advertising model. The company’s core monetization engine is the "Weedmaps for Business" subscription, which provides licensed retailers and brands with essential tools such as WM Listings, WM Orders, and WM Store for e-commerce enablement. This recurring revenue is augmented by premium advertising solutions, including featured and deal listings, banner ads, and promotion tiles that offer high-visibility placement to dispensaries. As of 2026, the company continues to pivot toward AI-driven data products and operational efficiency to stabilize margins in a maturing market. WM Technology competes directly with Leafly, Dutchie, Jane Technologies, and Eaze, maintaining a dominant position as the industry’s primary discovery platform while defending its market share against specialized e-commerce and point-of-sale (POS) integrators. Founded in 2008 by Doug Francis and Justin Hartfield, the company is currently led by Co-founder and CEO Doug Francis, who returned to the chief executive role in November 2024 to oversee strategic stabilization. The executive bench was significantly bolstered in early 2025 and 2026, featuring Chief Technology Officer Sarah Griffis—formerly CTO of Cerebral and an engineering leader at GoodRx—and Chief Financial Officer Susan Echard, a veteran finance executive with over 35 years of experience at firms like PetSmart and Royal Caribbean. The Board of Directors recently expanded to include Harry DeMott of Raptor Ventures and Brent Cox of Subtext Holdings, both appointed in February 2026 to provide disciplined capital markets expertise. Notable institutional backing includes positions from Old Mission Capital and Centiva Capital, reflecting a shareholder base focused on the company’s role as a critical infrastructure provider for the regulated cannabis economy.