Weedmaps on Thursday completed its acquisition of cannabis-focused digital menu and ad company Enlighten. The deal brings Weedmaps two of Enlighten’s key features: its subscription software SmartHub, and AdSuite, an in-store digital ad inventory for brands to reach consumers at the point of purchase, the company said in a press release.
During an earnings call on Wednesday, Chris Beals, CEO of Weedmaps, said the acquisition positions the firm “to be a tremendous partner to retailers and point-of-sale providers,” allowing it to “ingest and cleanse” point-of-sale data, “enrich it” from their brand information catalogs and “have that power engaging and transactable experiences for consumers across the Weedmaps marketplace, web e-commerce, and in-store kiosks.”
Enlighten Co-Founder Jeremy Jacobs, who was named vice president of in-store solutions at Weedmaps following the acquisition, said the company decided to “roll into” Weedmaps because of the “incredible synergies” and that Weedmaps was “incredibly well-positioned to sustain its leading position among canntech companies in the years to come.”
“We both had strong experience in digital signage and the tools to quickly scale an operation, so the opportunity seemed obvious and compelling. In hindsight, the industry evolved much more rapidly than we ever would have predicted, and our company evolved along with it, but those core value propositions carried through.” – Jacobs in a statement
Following the deal, Weedmaps will now be able to offer marketing options in dispensaries, at the point of purchase, the company said, along with “omni-channel marketing throughout the buying journey regardless of if the customer is shopping from their computer or at a physical storefront.”
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