Chicago-based CannMenus recently announced its acquisition of Nugget, a leading Canadian cannabis insights firm, marking a significant step in reshaping how businesses and consumers engage with cannabis data. The merger brings together two key players in the canna-tech industry, aiming to create an unmatched source of retail insights covering over 90% of licensed dispensaries in the United States and Canada.
The collaboration between CannMenus and Nugget aligns with their shared vision of leveraging data to drive success in the rapidly evolving legal cannabis landscape. Vib Gupta, Co-Founder and CEO of CannMenus, emphasized the importance of data-informed decisions in the competitive cannabis market. Gupta stated, “Our goal has always been to enable businesses and consumers to harness the power of real-time data. This merger is a significant step towards achieving that goal on a larger scale.”
Central to this vision is CannMenus’ innovative approach, offering a consumer product search interface and a robust Business Intelligence (BI) Software as a Service platform. This platform provides industry operators with up-to-the-minute market analytics, surpassing the capabilities of traditional data firms that typically offer insights with long delays in data. Essentially, real-time data usually isn’t so real-time in the cannabis space.
Darcy McQuaid, former CEO of Nugget and the new Chief Revenue Officer (CRO) of CannMenus, highlighted the benefits of the merger. “By combining the strengths of both management teams, we’re unlocking sustained cost efficiencies and driving long-term growth,” said McQuaid. He expressed gratitude to employees, investors, and clients for their support in achieving this significant milestone.
The expansion of CannMenus includes the appointment of David Schachter as the new Chief Strategy Officer. Schachter’s wealth of experience in startups and the cannabis industry, including his previous role as Head of Sales and Business Development at Sprout CRM (Acquired by Weedmaps [NASDAQ: MAPS]), will further enhance CannMenus’ strategic direction.
CannMenus offers a suite of powerful tools allowing industry players to monitor retail sales, manage inventory, prospect for new accounts, and analyze market-level trends. With real-time insights covering every legal U.S. and Canadian territory, it stands as the sole same-day business intelligence platform in the cannabis space.
Moreover, CannMenus.com hosts a comprehensive universal dispensary menu search engine, providing consumers with a convenient way to explore and compare cannabis products from various e-commerce providers. Often referred to as the “Kayak.com for cannabis,” CannMenus simplifies the search process, aiding consumers in making informed purchasing decisions quickly and effortlessly.
Nugget Data, founded by industry veterans, offered retailers and brands powerful tools to navigate the competitive cannabis market. The platform empowered clients to make informed decisions based on market trends through its user-friendly interface and comprehensive insights.
The merger between CannMenus and Nugget signifies a transformative step in the canna-tech industry, setting the stage for enhanced data-driven decision-making and consumer accessibility within the cannabis market.
Watch our previous interview with CannMenu’s co-founder Vib Gupta from our North American Weed Tour here.
