Matterport Goes Public via Merger with SPAC Gore Holdings VI

July 26, 2021
Share this Post: 

Big news from one of the biggest spatial data and virtual imagery providers in the world. Matterport, after gaining leaps and bounds throughout the pandemic, is continuing this upwards trajectory by going public on Nasdaq under the ticker symbol, MTTR.

To celebrate the occasion, Matterport held an event in Time Square, showcasing a digital copy of the Nasdaq Marketsite which allows passerby's to experience the 3D technology offered by Matterport. On the event, RJ Pittman, CEO of Matterport, commented:

"What better way to mark this historic milestone of Matterport's IPO than to digitize the Nasdaq MarketSite, a flagship place where disruptive industry players like us become listed companies.

“We have been leading the digital transformation of the built world for over a decade, so it is only fitting for us to demonstrate the power of our platform by inviting anyone to experience the Nasdaq site through this digital twin. one of a kind. So, we invite the world to celebrate our debut on the stock market, and continue to be committed to helping clients digitize and manage any physical space from any device, anywhere in the world."

The driving force behind its public debut stems from recent successes seen in the face of the COVID crisis, which put many real estate companies under great stress. Matterport reported that its subscriber numbers grew 500% in 2020. Matterport has digitized 5 million spaces since its launch in 2011, comprising over 4.57 billion square meters of space. It has done 4 billion building scans, making it the largest assets catalog in the world, which represents $230 trillion in value.

Matterport, like many other companies in recent months, chose to take the SPAC route instead of the traditional IPO avenue. The merger involved Matterport joining up with Gore Holdings VI. Together, the combined company will strengthen Matterport’s position as the market leader in spatial data.

Other companies which have recently gone public via SPAC include PropertyGuru which will merge with Bridgetown 2, German rental marketplace HomeToGo, and Sonder.

July 26, 2021
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Zillow And Opendoor
Zillow and Opendoor Further Extend Their Partnership into 3 New Markets

US giant Zillow and Opendoor have expanded their home sales partnership into three new markets. The new markets are Houston,...

Read More
Ke Holdings Decoration
Chinese Leader KE Holdings Sees Net Losses Widen to $203m in 2022 As It Goes "from high-speed to high quality growth"

Leading Chinese real estate brokerage and portal company KE Holdings (aka Beike) has released a report on its performance for...

Read More
Property Finder Boardroom
PropertyFinder hires Frode Nordseth as VP of Product

Dubai-based marketplace Property Finder has hired Frode Nordseth as its new VP of Product. He announced his new role in...

Read More
Buyrentkenya Nairobi Skyline
"The ceiling for innovation is just infinite at this point" - Interview with BuyRentKenya CEO, Lizzie Costabir

Like the previous two portals we've spoken to in our Africa series, BuyRentKenya has been in the business for 10...

Read More

Editor's Pick