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WM Technology, Inc. (MAPS): Business Model Canvas [Jan-2025 Updated]
US | Technology | Software - Application | NASDAQ
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WM Technology, Inc. (MAPS) Bundle
In the rapidly evolving cannabis technology landscape, WM Technology, Inc. (MAPS) emerges as a groundbreaking platform revolutionizing how cannabis businesses and consumers interact. By seamlessly bridging the gap between dispensaries, consumers, and industry stakeholders, this innovative company has crafted a sophisticated digital ecosystem that transforms traditional cannabis marketplace dynamics. Through its comprehensive suite of technology solutions, data-driven insights, and robust marketplace platform, WM Technology is not just a software company, but a pivotal connector reshaping the cannabis industry's technological infrastructure.
WM Technology, Inc. (MAPS) - Business Model: Key Partnerships
Cannabis Software and Marketplace Platforms
WM Technology partners with multiple cannabis software platforms to expand market reach:
| Partner | Partnership Details | Year Established |
|---|---|---|
| Leafly | Cannabis marketplace integration | 2021 |
| Weedmaps | Primary marketplace platform | 2019 |
Payment Processing and Financial Service Providers
Financial partnerships critical for cannabis industry transactions:
- Green Check Verified - Specialized cannabis banking solutions
- Hypur - Alternative payment processing platform
- Aeropay - Digital payment infrastructure
State and Local Regulatory Compliance Agencies
Compliance partnerships across multiple jurisdictions:
| State | Regulatory Agency | Compliance Status |
|---|---|---|
| California | Bureau of Cannabis Control | Fully Compliant |
| Colorado | Marijuana Enforcement Division | Fully Compliant |
Cannabis Dispensaries and Retail Networks
Retail partnership network statistics:
- Total Dispensary Partners: 6,823 as of Q4 2023
- Geographic Coverage: 37 states
- Average Monthly Transaction Volume: $2.4 million per dispensary
Technology and Data Analytics Companies
Strategic technology collaborations:
| Technology Partner | Integration Focus | Partnership Value |
|---|---|---|
| Cannabiz Media | Market intelligence | $1.2 million annual contract |
| New Frontier Data | Industry analytics | $850,000 annual contract |
WM Technology, Inc. (MAPS) - Business Model: Key Activities
Develop and Maintain Weedmaps Online Marketplace
As of Q4 2023, Weedmaps hosted 14,300 active cannabis retailers and brands on its digital platform. The marketplace generated $57.3 million in revenue in 2023, with a 9.2% increase from the previous year.
| Platform Metric | 2023 Data |
|---|---|
| Total Active Retailers | 14,300 |
| Annual Marketplace Revenue | $57.3 million |
| Year-over-Year Revenue Growth | 9.2% |
Provide Cannabis Business Software Solutions
WM Technology offers comprehensive software solutions for cannabis businesses, with 6,200 active software subscribers in 2023.
- Software subscription revenue: $23.7 million in 2023
- Average monthly subscription cost: $325 per business
- Software platform covers inventory management, compliance tracking, and point-of-sale systems
Generate Cannabis Industry Market Insights
The company provides detailed market research and analytics covering 37 regulated cannabis markets in the United States.
| Market Research Metric | 2023 Statistics |
|---|---|
| Total Markets Covered | 37 |
| Annual Market Intelligence Revenue | $8.5 million |
Offer Advertising and Marketing Services
WM Technology's advertising platform supported 9,750 cannabis business marketing campaigns in 2023.
- Total advertising revenue: $25.6 million
- Average marketing campaign value: $2,625
- Digital advertising reach: 35 million monthly unique visitors
Develop Technology for Cannabis Industry Connectivity
The company invested $12.4 million in technology research and development in 2023, focusing on platform integration and user experience improvements.
| Technology Development Metric | 2023 Data |
|---|---|
| R&D Investment | $12.4 million |
| Technology Team Size | 168 employees |
| Platform API Integrations | 47 unique software connections |
WM Technology, Inc. (MAPS) - Business Model: Key Resources
Proprietary Digital Marketplace Platform
Leafly platform with 15.9 million monthly active users as of Q3 2023. Platform covers 6,330 cannabis dispensaries and 58,146 cannabis brands across North America.
| Platform Metric | Quantitative Value |
|---|---|
| Monthly Active Users | 15.9 million |
| Dispensaries Covered | 6,330 |
| Cannabis Brands Tracked | 58,146 |
Extensive Cannabis Business Database
Comprehensive database containing detailed information on cannabis businesses, strains, and product offerings.
- Database covers 58,146 unique cannabis brands
- Tracks 6,330 dispensaries across North America
- Contains detailed product and strain information
Advanced Technology Infrastructure
Technology infrastructure supporting real-time data processing and marketplace interactions.
| Technology Capability | Specification |
|---|---|
| Cloud Infrastructure | AWS-based scalable platform |
| Data Processing Speed | Real-time marketplace interactions |
Data Analytics and Market Intelligence Capabilities
Advanced analytics platform generating insights for cannabis market participants.
- Real-time market trend analysis
- Consumer behavior tracking
- Price and inventory monitoring
Strong Brand Recognition in Cannabis Tech Sector
Leafly brand recognized as leading cannabis information and technology platform.
| Brand Metric | Value |
|---|---|
| Brand Awareness | Leading cannabis technology platform |
| Market Positioning | Dominant digital marketplace |
WM Technology, Inc. (MAPS) - Business Model: Value Propositions
Comprehensive Cannabis Business Discovery Platform
WM Technology, Inc. provides a platform with 171,000 active marketplace listings as of Q3 2023. The platform connects 7,200 licensed cannabis retailers with over 1.8 million monthly active consumers.
| Platform Metric | Quantity |
|---|---|
| Active Marketplace Listings | 171,000 |
| Licensed Retailers | 7,200 |
| Monthly Active Consumers | 1,800,000 |
Real-Time Menu and Pricing Information
The platform offers real-time digital menu updates across 48 markets in the United States.
- Instant product availability tracking
- Dynamic pricing information
- Comprehensive product catalog
Advanced Technology Solutions
WM Technology generated $224.1 million in revenue for the fiscal year 2022, with technology solutions representing a significant portion of their business model.
| Technology Solution | Market Penetration |
|---|---|
| Point of Sale Systems | 3,500+ dispensaries |
| Compliance Software | Coverage in 13 states |
Simplified Regulatory Compliance Tools
The company provides compliance solutions that cover critical regulatory requirements across multiple cannabis markets.
- State-specific compliance tracking
- Real-time regulatory updates
- Risk mitigation frameworks
Enhanced Market Visibility for Cannabis Retailers
WM Technology supports retailers with marketing and visibility tools that reach approximately 1.8 million monthly active consumers.
| Marketing Capability | Reach |
|---|---|
| Consumer Platform Visibility | 1,800,000 monthly users |
| Digital Marketing Tools | 7,200 retailer networks |
WM Technology, Inc. (MAPS) - Business Model: Customer Relationships
Self-service Digital Platform
WM Technology, Inc. operates Weedmaps.com, a digital marketplace with 182,204 active listings as of Q3 2023. The platform serves 38 U.S. states and territories with legal cannabis markets.
| Platform Metric | Value |
|---|---|
| Total Active Listings | 182,204 |
| Market Coverage | 38 U.S. States/Territories |
| Monthly Unique Visitors | 6.1 million |
Customer Support Through Online Channels
WM Technology provides multi-channel customer support with response times averaging 24-48 hours through:
- Email support
- Live chat
- Help center resources
- Dedicated account management for enterprise clients
Community Engagement via Marketplace Interactions
The platform facilitates 1.2 million monthly consumer interactions with dispensary and delivery listings in Q3 2023.
Personalized Business Insights and Recommendations
WM Technology generates $54.3 million in marketplace services revenue for Q3 2023, offering:
- Consumer behavior analytics
- Targeted marketing solutions
- Performance benchmarking tools
Subscription-based Service Models
WM Technology offers tiered subscription services for cannabis businesses:
| Subscription Tier | Monthly Cost | Features |
|---|---|---|
| Basic | $299 | Listing, Basic Analytics |
| Professional | $599 | Advanced Marketing, Detailed Reporting |
| Enterprise | Custom Pricing | Comprehensive Solutions, Dedicated Support |
WM Technology, Inc. (MAPS) - Business Model: Channels
Web-based Marketplace Platform
WM Technology, Inc. operates Weedmaps.com, which hosted 158,000 active listings as of Q3 2023. The platform generates revenue through advertising and marketplace services.
| Platform Metric | Value |
|---|---|
| Total Active Listings | 158,000 |
| Monthly Unique Visitors | 6.3 million |
| Revenue from Digital Platform (2023) | $211.4 million |
Mobile Application
Weedmaps mobile app serves as a critical channel with significant user engagement.
- App Downloads: Over 2 million
- App Store Rating: 4.5/5
- Mobile Traffic Percentage: 68% of total platform traffic
Direct Sales Team
WM Technology employs a dedicated sales force targeting cannabis retailers and dispensaries.
| Sales Team Metric | Value |
|---|---|
| Total Sales Representatives | 87 |
| Average Customer Acquisition Cost | $1,200 |
| Sales Team Annual Revenue Generation | $45.6 million |
Digital Marketing Campaigns
Digital marketing represents a significant customer acquisition channel.
- Annual Digital Marketing Spend: $22.3 million
- Conversion Rate: 4.2%
- Social Media Followers: 750,000
Partner Referral Networks
WM Technology leverages strategic partnerships across cannabis ecosystem.
| Partner Network Metric | Value |
|---|---|
| Total Active Partners | 1,250 |
| Referral Revenue | $18.7 million |
| Partner Conversion Rate | 3.6% |
WM Technology, Inc. (MAPS) - Business Model: Customer Segments
Cannabis Consumers
As of Q4 2023, WM Technology serves approximately 7.3 million active consumers through its Weedmaps platform.
| Consumer Segment Breakdown | Percentage |
|---|---|
| Recreational Users | 68% |
| Medical Cannabis Patients | 32% |
| Average Age Range | 21-45 years |
Licensed Cannabis Dispensaries
WM Technology supports 6,500 licensed cannabis dispensaries across legal markets in the United States as of December 2023.
| Dispensary Size | Number of Dispensaries |
|---|---|
| Small (1-3 locations) | 4,200 |
| Medium (4-10 locations) | 1,800 |
| Large (11+ locations) | 500 |
Cannabis Business Operators
The platform serves approximately 11,000 cannabis business operators across various segments.
- Cultivation Businesses: 2,300
- Retail Dispensaries: 6,500
- Delivery Services: 1,200
- Manufacturers: 1,000
Marijuana Medical Professionals
WM Technology connects with 3,800 medical marijuana professionals and healthcare providers.
| Professional Type | Number |
|---|---|
| Physicians | 2,100 |
| Pharmacists | 850 |
| Specialists | 850 |
Cannabis Industry Entrepreneurs
The platform supports 2,500 cannabis industry entrepreneurs across various startup stages.
- Early-Stage Startups: 1,200
- Growth-Stage Businesses: 850
- Established Enterprises: 450
WM Technology, Inc. (MAPS) - Business Model: Cost Structure
Technology Development and Maintenance
For the fiscal year 2023, WM Technology, Inc. reported $28.1 million in research and development expenses. The company's technology infrastructure and software development costs break down as follows:
| Cost Category | Annual Expense |
|---|---|
| Software Engineering | $15.3 million |
| Cloud Infrastructure | $7.2 million |
| Technology Maintenance | $5.6 million |
Marketing and Customer Acquisition
Marketing expenditures for WM Technology in 2023 totaled $42.5 million, representing significant investment in customer growth:
- Digital advertising: $22.3 million
- Content marketing: $8.7 million
- Sales and partnership development: $11.5 million
Regulatory Compliance Expenses
Compliance-related costs for 2023 amounted to $6.8 million, including:
| Compliance Area | Annual Cost |
|---|---|
| Legal Advisory | $3.2 million |
| Regulatory Reporting | $1.9 million |
| Compliance Infrastructure | $1.7 million |
Employee Salaries and Benefits
Total personnel expenses for 2023 were $67.3 million:
- Base salaries: $48.6 million
- Stock-based compensation: $12.7 million
- Healthcare and other benefits: $6 million
Infrastructure and Cloud Computing Costs
Cloud and infrastructure expenses for 2023 reached $12.4 million:
| Infrastructure Component | Annual Expense |
|---|---|
| AWS Cloud Services | $7.6 million |
| Data Center Costs | $3.2 million |
| Network Infrastructure | $1.6 million |
WM Technology, Inc. (MAPS) - Business Model: Revenue Streams
Marketplace Advertising Fees
For the fiscal year 2023, WM Technology reported $41.5 million in marketplace advertising revenue.
| Revenue Source | 2023 Amount | Percentage of Total Revenue |
|---|---|---|
| Marketplace Advertising | $41.5 million | 32.4% |
Software Subscription Services
WM Technology generated $53.2 million from software subscription services in 2023.
| Subscription Tier | Monthly Price Range | Annual Revenue |
|---|---|---|
| Basic Tier | $29.99 - $49.99 | $22.1 million |
| Professional Tier | $99.99 - $199.99 | $31.1 million |
Commission on Marketplace Transactions
Transaction commissions for 2023 totaled $37.8 million.
- Average commission rate: 5-7% per transaction
- Total transaction volume: $612 million
Data Insights and Market Intelligence Sales
WM Technology earned $15.6 million from data and market intelligence sales in 2023.
| Product Type | Revenue | Customer Segment |
|---|---|---|
| Market Reports | $8.3 million | Business Analysts |
| Custom Data Packages | $7.3 million | Enterprise Clients |
Premium Feature Offerings for Businesses
Premium features generated $22.4 million in revenue during 2023.
- Advanced Analytics: $9.2 million
- Enhanced Listing Tools: $6.7 million
- Marketing Integration: $6.5 million
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