The Art of Steering Weedmaps

08/25/22 • 39 min

Chris Beals landed unexpectedly at Weedmaps in 2015 but since then has taken the famed ancillary business public and grown it into one of the most recognizable brands in cannabis.

Beals spent his pre-cannabis life advising start-ups and deal-making in highly regulated industries such as healthcare and technology, but it took some tough on-the-job experience to prepare Beals for cannabis’ realities.

In this episode, Beals talks about:

The importance of due diligence
How Weedmaps handles the problem of unlicensed operators
Taking a boots-on-ground approach to learning about the industry
Expanding
Preparing for federal legalization

Who is Chris Beals?

Chris Beals is the CEO of WM Technology, the parent company of Weedmaps, one of the best known ancillary brands in the cannabis industry. An attorney by profession, Beals joined Weedmaps in 2015 as president and general counsel and took over as CEO in 2019. Before cannabis, Beals was a senior vice president with Colbeck Capital Management, where he focused on deal origination in the technology and health sectors; Deutsche Telecom, where was senior corporate counsel and data privacy officer who managed and advised deal teams involved in acquisitions and partnerships; and the law firm Covington & Burling, where he advised startup and technology companies on deal structuring.

Chris Beals landed unexpectedly at Weedmaps in 2015 but since then has taken the famed ancillary business public and grown it into one of the most recognizable brands in cannabis.

In this episode, Beals talks about:

The importance of due diligence
How Weedmaps handles the problem of unlicensed operators
Taking a boots-on-ground approach to learning about the industry
Expanding
Preparing for federal legalization

Who is Chris Beals?

Previous Episode

Thriving Fashion Entrepreneur Makes Clutch Decisions to Succeed in Cannabis

Brett Heyman had led PR efforts at Gucci and Dolce and Gabbana before launching a line of clutches in 2010, named Edie Parker, after her daughter, that quickly took off thanks to vocal fans such as Lady Gaga, Solange Knowles, and Kate Hudson. Heyman followed-up with a successful line of home accessories but for her third act pivoted to cannabis, launching Flower by Edie Parker in 2019. In this episode of Seed to CEO, Heyman takes listeners on her fashion to flower journey, discussing:

How she leveraged fashion experience to break into cannabis

The importance of partnerships to the company’s overall strategy.

The challenges of operating in California

How to assess new markets Who is Brett Heyman?

Brett Heyman is founder and CEO of Flower by Edie Parker, a three-year-old cannabis brand specializing in pre-rolls, prepacked flower, glass pipes and stash boxes. Before cannabis, Heyman led PR efforts at fashion houses such as Gucci and Dolce and Gabbana before launching her own very successful fashion label, Edie Parker. She’s also got a pretty killer country home in Connecticut that’s appears in magazine’s like Architectural Digest and Habitually Chic.

Next Episode

Out of the Frying Pan, into the Fire: How One Oregon Couple Pivoted from Retail to Cultivation

Matt Walstatter and his wife Meghan were among the first cannabis retailers in Portland, Oregon and enjoyed early mover advantages for a few years. But Portland grew into one of the most saturated retail markets in the country, so the couple instead decided to focus on their nascent craft cultivation business. The problem? It also happens to be in one of the most saturated cultivation markets in the country. The Walstatters not only survived but thrived.

This episode of Seed to CEO is a must-listen for anyone competing in uber-competitive markets, and covers topics that include:

• Raising capital

• Selling your business

• Contingency planning

• Building efficiency into your cultivation facility

• Branding

• Being politically connected