Weedmaps Fortifies Board as Cannabis Market Enters New Strategic Era

IRVINE, CA – February 03, 2026 – WM Technology, Inc. (Nasdaq: MAPS), the parent company of the prominent cannabis marketplace Weedmaps, has announced a significant reinforcement of its leadership team, appointing two seasoned industry veterans to its Board of Directors and solidifying the role of its Chief Financial Officer. The strategic moves, which install Harry DeMott and Brent Cox on the board effective February 1, 2026, and transition CFO Susan Echard to a permanent employee, are being interpreted as a deliberate maneuver to navigate the cannabis industry's next phase of maturation and regulation.

In a statement, WM Technology CEO and Chair Doug Francis celebrated the appointments, emphasizing the unique blend of skills the new directors bring. “They each bring a combination of cannabis industry perspective, technology fluency, and disciplined capital markets experience,” Francis said. “They understand the complexities of operating in a highly regulated industry... We look forward to their insights and guidance as we strengthen the Weedmaps marketplace and continue to chart our path forward in the evolving cannabis industry.”

Bolstering Leadership with Deep Industry Expertise

The appointments of Harry DeMott and Brent Cox represent a calculated infusion of specific, hard-won expertise at a critical time. Both individuals bring extensive track records that span the intersection of cannabis, technology, and finance, reflecting the multifaceted challenges facing public companies in the sector.

Harry DeMott is a notable figure with direct operational experience in cannabis tech. He was the founder and CEO of Proper, a data-centric company that initially focused on reviewing cannabis brands and later evolved into an e-commerce platform, positioning it as an alternative to marketplaces like Weedmaps. This background provides DeMott with intimate, ground-level knowledge of the competitive landscape and the mechanics of cannabis e-commerce. His experience is further augmented by his role as a co-founder of AI startup Outsider Labs and his deep roots in finance, including time at Credit Suisse and several hedge funds. His public board experience, which includes chairing audit and compensation committees, adds a layer of rigorous governance oversight.

Brent Cox brings a complementary skill set centered on investment and strategic advisory within regulated industries. As the Founder of Subtext Holdings and Co-Founder of The Inception Companies, his career has focused on identifying and nurturing growth in complex markets. His cannabis-specific board experience is extensive, with prior roles at notable companies including MedMen, Sunday Goods, and Sherbinskis, and a current seat on the board of Ispire Technology (Nasdaq: ISPR). This vast network and history of navigating the financial and operational hurdles of various cannabis ventures provide a panoramic view of the industry's capital market dynamics and strategic pathways.

A Signal of Stability and Governance

Concurrent with the board enhancements, WM Technology announced that Susan Echard will transition from a contracted CFO to a full-time employee. Echard, who had been serving under an arrangement with SeatonHill Partners, will now be a permanent fixture in the company's financial leadership, complete with a base salary of $460,000 and a target bonus of 65%.

This move is far more than an administrative change. In the volatile cannabis sector, leadership stability is a key metric for investors. By securing its CFO in a permanent capacity, WM Technology is signaling a commitment to long-term financial planning and robust internal governance. It projects confidence in its strategic direction and provides continuity in a role that is increasingly central to navigating market pressures and investor relations. When viewed alongside the addition of two directors with strong public company governance credentials, the collective changes suggest a comprehensive overhaul aimed at building a resilient corporate foundation prepared for sustained growth.

Navigating the Complexities of Cannabis Regulation and Tech

The timing of these leadership changes is crucial. The cannabis industry stands at a potential inflection point, with the U.S. Drug Enforcement Administration (DEA) considering the reclassification of marijuana. Such a move could fundamentally alter the financial and regulatory landscape, easing banking restrictions and opening new avenues for capital. However, the industry remains a complex patchwork of state-level laws, demanding sophisticated compliance and technology solutions.

WM Technology’s new board members are uniquely equipped to guide the company through this terrain. DeMott’s experience building Proper, a cannabis data and e-commerce platform, brings invaluable institutional knowledge of consumer behavior and brand dynamics directly into the Weedmaps boardroom. His fluency in technology, particularly with his involvement in an AI startup, aligns perfectly with WM Technology's core identity as a tech solutions provider. His insights can directly inform the evolution of the Weedmaps marketplace and its suite of B2B software.

Meanwhile, Cox’s background as an investor and advisor across a portfolio of cannabis companies provides the strategic foresight needed to identify opportunities and mitigate risks in a market defined by regulatory uncertainty and intense competition. His experience in leveraged finance and private equity, particularly within regulated sectors, will be instrumental in guiding capital allocation, potential M&A activity, and overall financial strategy as the market matures.

By integrating these specific skill sets at the highest level of corporate oversight, WM Technology is proactively equipping itself not just to react to the evolving market, but to help shape its future. The appointments signal a clear strategy: to leverage deep expertise in technology, finance, and regulation to solidify its market-leading position and capitalize on the next chapter of the legal cannabis industry.