IRVINE, Calif. - WM Technology, Inc. (NASDAQ: MAPS), known for operating the cannabis marketplace Weedmaps, today announced the appointment of Sarah Griffis as its new Chief Technology Officer. The leadership change takes effect immediately, as the company continues to expand its technological capabilities in the cannabis industry.
Sarah Griffis brings a wealth of experience to WM Technology, having previously served as CTO at Cerebral, a digital healthcare company. Her tenure at Cerebral was marked by significant contributions to improving access to mental health services. Before that, Griffis held a leadership role at GoodRx (NASDAQ: GDRX), which maintains impressive gross profit margins of 94% and generates annual revenue of $790 million. According to InvestingPro analysis, GoodRx shows strong financial health indicators and currently appears undervalued. Griffis also spent time with Kindbody. Her educational background includes a bachelor's degree in Environmental Science Engineering from Caltech.
Doug Francis, CEO of Weedmaps, expressed enthusiasm about Griffis joining the team, highlighting her track record in leading tech teams and her experience in regulated industries. Griffis herself is eager to contribute to Weedmaps' mission of improving product offerings and creating efficiencies for customers and clients. She sees a strong alignment between her technology background, healthcare experience, and Weedmaps' goals of ensuring cannabis access.
Weedmaps has evolved over the past 15 years to become a key platform for cannabis consumers, offering a suite of services including product discovery, daily deals, and educational resources. In addition to consumer-facing services, WM Technology also provides eCommerce and compliance software solutions for cannabis businesses, aiming to enhance efficiency and manage compliance with industry regulations. For detailed analysis of companies in the technology and cannabis sectors, InvestingPro subscribers gain access to comprehensive financial metrics, Fair Value calculations, and expert insights across more than 1,400 US stocks.
The company advocates for full U.S. legalization of cannabis, industry-wide social equity, and education about the plant. Based in Irvine, California, WM Technology promotes flexible work arrangements, including remote and hybrid options for its employees. This leadership appointment is based on a press release statement from WM Technology, Inc.
In other recent news, GoodRx Holdings Inc. has undergone several significant developments. The company announced Wendy Barnes as its new President and CEO, effective from January 1, 2025. Barnes, a veteran with over 30 years of leadership experience in the pharmacy and medical benefit sectors, will transition from her role as CEO at RxBenefits. This move comes as GoodRx reported a year-over-year increase in total revenue by 8% in the third quarter, reaching $195.3 million, and projected around $200 million in revenue for Q4.
However, Mizuho (NYSE:MFG) initiated coverage on GoodRx with a Neutral rating, citing concerns about the impact of recent store closures by large retail drug chains on the company's performance. Mizuho's projections for GoodRx's 2026 revenue stand at $860 million, falling short of the company's target of around $1 billion.
Additionally, Raymond (NS:RYMD) James removed GoodRx from its Analyst Favorites list, suggesting that the company's turnaround initiatives may need more time to yield visible improvements in its financial results. Despite this, Raymond James maintains a constructive outlook on the stock. This comes as Wells Fargo (NYSE:WFC) analyst Stan Berenshteyn reiterated an Overweight rating on GoodRx, expressing optimism about Barnes's appointment and its potential impact on the company's future.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.