On Monday, SPAC named Gores Holdings VI "GHVI" led by billionaire investor Alec Gores announced that it will be merging and taking Matterport public in a deal worth $2.9 billion (Equity value).
Matterport turns physical space into 3D twin representation. It has a global customer base in more than 150 countries and a spatial library with more than 10 billion square feet.
Upon completion of the merger, the new firm "Matterport, Inc" will remain listed on Nasdaq under the ticker symbol "MTTR".
The pandemic has accelerated the digitization of Real Estate. Matterport joins publicly listed companies such as Zillow "Z" and Opendoor "OPEN" which are disrupting Real Estate's status-quo by incorporating innovative technology.