Cannabis Technology and Advertising Company Weedmaps CEO Chris Beers Announces Resignation Due to Corporate Losses

Irvine, California-based Weedmaps' parent company posted a quarterly loss of $10.5 million, according to a press release Monday. The cannabis technology and advertising company said WM Technology CEO Chris Beers "has decided to resign" and leave the company. Doug Francis, the company's co-founder, executive chairman and former CEO, will lead WM Technology's search for a new CEO. "While the end market environment has been challenging, we can operate at a higher level by being more focused and streamlined," Francis said in a statement. "The company reported an average of 5,576 paying customers per month, an increase of approximately 25 percent over the same period in 2021. However, average monthly revenue per paying customer fell 21 percent year-over-year to $3,019.

Information source: new.qq.com/omn/author/8713560