Matterport, the company behind the eponymous virtual tour camera and virtual tour platform, has confirmed that it is in talks for a proposed merger with a SPAC (special purpose acquisition company), with the objective of being listed in NASDAQ in Q2 2021 under the ticker symbol MTTR.
Matterport stated that it currently has 250,000 subscribers in 150 countries, and has more than 10 billion square feet of scans in its database. After the proposed merger, the new company will have a ‘total enterprise value’ of $2.3 billion.
Although 2020 was a difficult year for many businesses, it increased the need for virtual tours and led to massive growth for Matterport, which had record high revenues of 85.9 million, representing an increase of 87% year over year. If you are interested in helping to fill the need for virtual tours, check out my complete guide here.