Is Matterport a Good Spatial Data Stock to Invest In? By StockNews
Matterport, a 3D and spatial software company (MTTR), made its debut on the stock exchange through an SPAC transaction backed by Alec Gores. With its innovative product and services, the company is gaining a solid foothold within the sector. Is MTTR a safe bet with its negative profit margins? Find out more. Matterport, Inc., a 3D camera and spatial data provider based in Sunnyvale, Calif., was made public by MTTR through a reverse merger. Alec Gores VI is the billionaire investor backing Gores Holdings VI. The company was merged with Gores VI blank check company. MTTR’s enterprise value post-merger was $2.90 billion.
Gores Holdings VI raised $310m and PIPE investors brought in $295m. Since it’s debut, the stock gained 39.1%.
MTTR is a seller of 3D cameras which allow virtual tours to be created for real estate. The company became popular after it launched an iPhone app that captures 3D models homes. Regarding this software launch, MTTR Chairman and CEO RJ Pittman said, “We signed more customers in the first three days of the beta launch than the first eight years of the company.”
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