Transcript: Matterport Capture Services Webinar | Thursday, 16 April 2020 | We Get Around Network Forum

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	Screen Grab 1 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 2 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 3 \| Matterport Capture Services Webinar \| 16 April 2020 [Same as Slide 16] Screen Grab 4 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 5 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 6 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 7 \| Matterport Capture Services Webinar \| 16 April 2020 [b]Screen Grab 8 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 9 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 10 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 11 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 12 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 13 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 14 \| Matterport Capture Services Webinar \| 16 April 2020 [Missing Screen Grab 15 - Not Displayed In Presentation \| Matterport Capture Services Webinar \| 16 April 2020] Screen Grab 16 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 17 \| Matterport Capture Services Webinar \| 16 April 2020 Screen Grab 18 \| Matterport Capture Services Webinar \| 16 April 2020 --- Transcript: Matterport Capture Services Webinar \| Thursday, 16 April 2020 Hi All, Below is a transcript of the Matterport Capture Services Webinar held on Thursday, 16 April 2020. At noon ET today, Friday, 17 April 2020 Matterport send a Matterport Capture Services - Interest Form (an invite to join the Matterport Capture Service Program) and a link to the recorded webinar. AAbove are screen grabs from the webinar. Speakers Linda McNair Director, Communications & Content Marketing Matterport San Francisco Brendan Dowdle Senior Director Business Development Matterport San Francisco Jay Remley Chief Revenue Officer Matterport San Francisco Bill Robinson Capture It 3D San Francisco Carlos Hernandez Tour It Now South California Chris Petracco TrustedPhotoDC Washington, DC \| Boston Basm Mohson VirtualSpace 3D Capture Miami, Philadelphia WGAN Forum Related Discussion ✓ Question of the Day: Thoughts about the Matterport Capture Services Webinar? ✓ Matterport Capture Services: Dan Smigrod Recommendations \| Part 1 Stay healthy, Dan --- Transcript Linda McNair: Thank you for joining us today. I'm Linda McNair, at Matterport, and I'm here with Jay Remley, our Chief Revenue Officer, and Brandon Dowdle, Senior Director of the program we're going to announce today. We are joined by four of your esteemed colleagues from across the United States: Bill Robinson from Capture It 3D, based in the San Francisco Bay Area; Carlos Fernandez from Tour It Now, based in southern California; Chris Petracco from TrustedPhotoDC, based in Washington, DC and serving Boston and surrounding areas; and Basm Mohsen from VirtualSpace, who started out serving New York City, and has since expanded to Miami. Thanks to the four of you for being here to talk about the pilot program you participated in and helping us shape what we're going to announce today. Here's what we have on tap. We'll talk about the opportunities in front of us and why we are launching this program. We'll talk about how it works, how you'll get paid, the benefits you'll realize, and how to join. We'll give you insight into the scope of the demand we're seeing; we'll answer the key questions you asked us when you registered; and then we'll turn it over to our panelists to address the most popular ones, speaking from direct experience. Questions like: "Is the pay fair?" "Is the program cannibalizing your businesses?" "Is there enough work out there?" And now, I'd like to turn it over to Jay. Jay Remley: Great. Thank you, Linda, and thanks everybody for joining us here today to learn more about this next phase of our program. But, before we get started I'd like to just take a quick step back and share with you our thoughts and what we've learned over the last six years working with each and every one of you. We started the Matterport Service Partner Program back in 2014, really as a referral service to satisfy the request from customers who wanted a Matterport digital twin or scan but didn't want to invest in the hardware or SaaS plan, and at last count we have had over 5,000 MSPs globally, in over 100 countries; and are currently creating 50,000 Matterport models every month. So, by many measures, it's been a success and we've learned a lot over the last almost six years since we launched the MSP program back in 2014. However, we've definitely come across challenges and issues with the program, and as we think about going into the next phase these are some of the areas that we're trying to overcome and provide a better service with you and with the customers. And so, just a few examples: as we get the demand coming in on a daily basis from these customers that don't want to necessarily purchase their own hardware or SaaS plan, we found that 30 percent of a lot of our MSPs only can scan less than four times a month, and so we've had challenges keeping up with the demand and the availability of the MSPs in the program. It was also been inconsistencies in the scan quality, pricing, customer service resulting in a negative experience as customers are getting different quotes, and prices, and inconsistencies as they submitted requests through us, that we then sent out through the referral program. And then, even in the last year, year and a half, especially, we've gotten a lot more demand from large enterprise customers, where it's not about going out and just scanning a home for an open house or a residential property. It's enterprise companies coming to us, wanting us to scan a 1,000 of their restaurants across the country, or 800 of their retail stores in the western United States or across Europe. And, they really were looking for us to have a better experience for them to manage these large, scalable requests with negotiated pricing, and terms and services upfront, with centralized billing and other capabilities that we just weren't able to support through the initial, or through our current MSP referral program. So, with that, I wanted to talk abut the opportunity that we see going forward, working with many of you on this. The market opportunity we have in front of us; is massive. Our estimates, and through our research, we've got over four billion buildings out there in the world that make up roughly 20 billion spaces. As we look at our 2.5 million models on our platform today, and growing, every physical building has about five Matterport spaces in it, and that's the four billion buildings that are out there across all of the asset classes, which is the largest, from a valuation point of view, across commercial, residential, and industrial of around $228 trillion asset class. So, it's a massive opportunity, massive market in front of us, and to scale this to the next level we've got to think a little differently, and that's really what we're going to talk about as we go forward here with this new program. But, we see this as we're just getting started. As I just mentioned, we have about two and a half million spaces on our platform today; growing quickly in the hundreds of thousands per month, and we're literally not even at one-tenth of one percent of the global market opportunity in front of us. And so, with that, our belief with this new program going forward... as the saying goes: "Rising tides lift all boats," and I honestly believe this opportunity is so big in front of us. We're working with many of you that, it's not only going to be great for our customers and for Matterport, but also for our MSPs and our Capture Service partners in the program. So, with that I'd like to now turn it over to Brendan, who is our senior director running our Capture. Services program. Brendan Doddle: Thank you, Jay. So, in order to respond to this opportunity that's in front of us, we're super-excited to announce the Matterport. Capture Services program. As Jay was mentioning, this program's really designed to target enterprise customers that have a tremendous value for the Matterport model itself, but are not interested in purchasing the cameras or not interested in operationalizing a workforce internally to go conduct the scans. The goal of the program is to target enterprise customers that span multiple geographies, and who require a fully-managed solution with one-click access to scheduling and standardize pricing. It's through this program that we're able to connect these enterprise customers with experienced and reliable Matterport professionals to scan their listings in a very consistent way. Many of these customers actually require this one-click access to exist within some of their intranet or internal systems. Think of it as an 'easy button' that their own workforce can click to order scans and execute on the scanning to deliver models into their accounts. So, as Jay mentioned on the previous slide, this puts us in a position to bring in net, new customers to the Matterport ecosystem. Customers that have a lot of value in the Matterport model itself but have faced a lot of barriers in acquiring those models due to not having a single point of contact or a fully managed solution that they could acquire models through. And, that's what the Matterport Capture Services is design to solve for. So, how does the Matterport Capture Services program work? Matterport Capture Services is a fully dispatched, managed program where executable jobs are sent directly to those that have joined the program. A requestor, is an individual at the enterprise that has signed up to submit jobs through this program – fills out a simple form specifying the address; and square footage of the property that needs to be scanned as well as date and time preferences for this scan appointment. The available capture technician closest to that address in which the enterprise is requesting to be scanned, will then receive the terms of the job and is free to accept or deny the job. If denied, the next closest capture technician will receive the opportunity and so on until the job is assigned. In some cases, we will ask capture technicians to make themselves available for recurring orders in a particular area. We have certain customers that have jobs that require scanning on a consistent basis. In these cases, if the capture technician accepts the job, jobs will be submitted in a more automated scheduling system that we are using as part of the Matterport Scanning Services program today. So, I am sure that there will be a lot of questions on pricing ... We really want to use this time to highlight that it is more about our pricing and payout models work. Our goal with pricing is to ensure that all of our capture technicians are well compensated for their time and efforts to go do scans on behalf of our enterprise customers. But also insure that the pricing model is one that facilitates greater adoption of Matterport with our enterprise customers. So, the pricing is based on a variety of variables, including property type: whether it commercial or residential; the property size - the larger the property, the greater the charge and the greater the payout for our capture technicians - and, of course the location of the property is. And, right now, the location pricing does fluctuate a country basis, but specifically within regions of that country. So, within each country, we will be onboarding capture technicians to cover specific regions. A region is defined as a 35 mile radius from a city center. So, when a job comes in to a specific region, the capture technician assigned to that region will satisfy that job. The pricing model that I just described will be based on the jobs that are submitted with that 35 mile radius within the city center. If a job is slightly outside of that 35 mile radius, we are charging our customers a travel fee to encourage our capture technicians to venture out a little further to capture those jobs. These travel fees are passed on 100 percent to the capture technician to really motivate the capture technicians to go do that work. Matterport is not interested in making a profit on those additional travel fees. We are really looking to provide as much coverage to our customer base as possible and provide as much payments to our capture technicians as possible. In additional, there are additional fees as cancellation fees and after hour fees. We really encourage our enterprise customers to respect our capture technicians' time and we know that it would be very disruptive to our capture technicians if the client canceled the job within 24 hours of that job And so, we will charge the enterprise customer a cancellation fee and pass that fee, 100%, onto our Capture technicians to compensate them for the opportunity time lost of the job the following day. After hour fees may also apply if an enterprise customer requires a scan to be done at an odd time. We want to offer that as a potential option and do so by rewarding our Capture technicians through additional fees to make themselves available during that time. So, later on in the presentation today, some of our existing Capture technicians will share a little bit of background on the success that they've realized through the program, and how it's added to incremental revenue for their businesses. So, we've spoken a lot about the benefits of this program in the previous slide, but I just wanted to reinforce them here. So, first, a lot of the jobs that are coming through this program are net new jobs from customers that are currently not using Matterport. There also tends to be larger jobs. A lot of our customers that are leveraging Matterport Capture Service today are commercial customers with large properties that pay out in larger ways than residential properties do. In addition to the program leads that we're still sending through Find A Photographer, these opportunities are real, are tangible opportunities for you to execute on. These are not leads, and I want to be super clear about that. These are pre-negotiated deals that are already agreed to by the customer, that are being delivered to the Capture technician to choose whether or not to execute, or not. As such, there's no sales or customer acquisition costs to these opportunities. In addition, Matterport is going to be managing the post-production and transferring the model to the customer's hosting account. So, this means that there is no hosting requirement for our Capture technicians for any of the jobs that they conduct as part of the Matterport Capture Services program. Point five here really summarizes this all up. Really, what we're trying to do is create a program where there's no administrative overhead for Capture technicians, and it's on that new revenue toward your businesses. Additional benefits include dedicated support. The Capture Services team will have personnel that are responsible for supporting the capture technician ecosystem and ensuring the health of the program, answering questions. We will also be offering dedicated support to all our capture technicians beyond what is being provided today. We've talked about the incremental revenue opportunity, and the final benefit here is, we will be badging and certifying all Capture technicians with a new badge that will highlight the value being part of the program, and the fact that our capture technicians have been vetted to provide a high-quality service on behalf of enterprise customers. So, who are these enterprise customers? So, here are a couple here on the right. Engel & Völkers is a large global real estate brokerage firm that is interested in adopting Matterport across several of the countries in which they offer services in. CBRE is a large commercial brokerage firm that is looking to scan as many of their commercial listings as possible; and Colliers International is a similar type of customer as CBRE, that has a significant amount of properties within their commercial portfolio that are looking for digital twins of. So, we are offering Matterport Capture Services in 125 cities across the US and Canada, and 250 cities in the UK, France, Germany, Spain, and Switzerland. And we will be growing the program from this first set of cities over the course of the next several months and years. In addition to the customers I just highlighted, one of our early Matterport Capture Services partners, JP & Associate Realtors, has offered to provide a video testimonial to talk through the value of this program. JP Piccinini: Hello. My name's JP Piccinini. I'm the founder of JP & Associates Realtors. I'm the current CEO of its parent company Vesuvius Holdings. I am a retired agent: been a Realtor, been a broker, been a team leader, been a broker-owner. I've really had several positions in my 15 years as a real estate professional, and we chose as a company... JP & Associate Realtors... chose Matterport because it was innovative; because in these uncertain times it provided a certain solution for our sellers to be able to market and better position their properties in this market. Absolutely, we plan on using Matterport for the majority of our listings. Our agents have an amazing enterprise account for them to be able to log in from a landing page. One click does it all. Super simple solution; high-quality, professional marketing, which goes hand-in-hand with the professionalism of all our 2,500 agents that operate across the United States, from Arizona all the way to North Carolina, Virginia, Maryland, Michigan. Matterport is a fantastic company and JPAR is enthused, excited about partnering up with Matterport in the future. Brendan Doddle: So, how do you join the Matterport Capture Services program? So, right after this call we will send you an invitation to apply. We are currently only accepting applications from MSPs who have scanned a minimum of 20 properties, and owned at least one Matterport Pro2 3D Camera. The minimum 20 scanned properties just represent a level of experience that we need to be a part of this program in order to ensure that our enterprise customers receive the highest-quality service on behalf of Matterport's ecosystem. The Pro2 camera is required because many of our enterprise customers require the higher fidelity of imagery that the Pro2 camera generates as part of the scan. In addition, we are requesting that all of the Capture technicians live within the 35-mile of the city centers that we will be offering services in. This is to make it very easy for our capture technicians to travel to properties that are being requested in those particular regions. The goal over time with the program is to slowly and methodically grow this program and balance supply and demand. We are not going to be able to accept everyone into the program day one. What we want to do here is really ensure that all of the Capture technicians that are part of the program are seeking and gaining the value of the program in terms of number of deals and number of jobs that are being submitted to them. If we over-saturate our supply too early in this program, we feel that this will erode the value proposition of the Capture technician program itself, and ultimately will have impacts on the customer experience. So, that said, over time we do see the growth of this program happening pretty quickly and substantially. We're seeing a lot of interest from large enterprise customers across the board in leveraging Matterport model, and we will be looking to add both depth in our network cities, adding multiple Capture partners and Capture technicians into those cities; but also increasing the number of cities that we're offering services in and doing so based on known demand in those areas so that the value of the Capture technician program is well-realized by all those that participate in the program. So, on that I'm going to pass back to Linda, here, who will close out the presentation here. Linda McNair: Thanks, Brendan. So, before we close we're going to jump into some of the top questions we received from you, the community. So, first we're going to address the more programmatic questions, and then turn to the panel for a Q&A addressing your top three questions. So, the first question if for Jay: Many MSPs feel that we're trying to compete with them. What do you have to say about that? Jay Remley: Good question, Linda, and yeah. We definitely don't see this as competing with our Capture technicians. As I had mentioned earlier in the beginning, it's a huge opportunity out there in the market, with over four billion buildings globally, and we're capturing today between two and a half and three million on our platform, and yes, we're growing quickly at 100,000+ per month that we're adding to our platform, but by no means are we even close to reaching our potential. And so, we see this program as really incremental to the business that our Capture technicians are seeing today as we expand this, as Brendan mentioned, really more into the enterprise space and overcoming some of the challenges that we had in the last five or six years that I had mentioned earlier, about inconsistencies in the customer experience, the quality of the experience, as well as just the pricing and transparency when large customers are asking for 50, 100, 200 scans. We just weren't able to efficiently support those, that whole segment of the market. So, I see this truly as incremental and a growth opportunity for any of the Capture technicians that participate in our Capture Services Program. Brendan Doddle: And something I'd like to add to this, Jay, is in terms of the service offering that we're providing these enterprise customers: to be absolutely clear, all we're providing is Matterport scans and Matterport services. Services such as drone, DSLR photography, and other services are not going to be serviced through this program itself. We're really trying to make Matterport itself more available to our customer base, and we're not looking to expand beyond that service offering at this point, or any time in the future. Linda McNair: To both of you, and on that note, I think the next one is for Brendan. The next big question was: If I join the program, how many jobs can I expect to receive? Brendan Doddle: Yeah, so it's a great question. At this stage we're in the very early beginnings of this program. We are trying to ensure that all of the Capture technicians that are involved in the program are seeing a lot of value through the program itself. Now, as I mentioned earlier in the presentation, we are looking to constrain the applications and applicants and those that are accepted to the program based on demand, and really only grow the supply base when the demand dictates us to do so. So, while we can't promise or guarantee jobs here day one, we can share with you that we are... the program as it's structured and as it's designed, is one in which it ensures all of our Capture technicians will see a maximum amount of jobs in all of their regions that they are supplying services to. Linda McNair: Thank you. And this one came up a few times: Ultimately, who owns the model? Brendan Doddle: Yeah, another great question. One of the requirements for our customers to engage in this program is that they need to have a Matterport hosting account, some sort of Matterport SaaS account. And so, once the model has been uploaded the model is actually transferred into the customer's account. So, the customers themselves own the Matterport model, and this is something a lot of enterprise customers require, as they need to use that model in numerous ways. What we see is that actually, a benefit to the Capture technician program, is there's not requirement to absorb hosting costs on behalf of customers anymore. Linda McNair: Thanks, Brendan. And this is the last question that was on everyone's mind, before we turn it over to the panel: Are there any PPE requirements due to Covid-19? Brendan Doddle: So, in short, yes. While we can't mandate our Capture technicians to wear PPE, we certainly advise that they do so. We have published guidance on our support site that includes a checklist to review prior to scanning a customer's site. This includes wearing a mask, wearing gloves, consider wearing boot covers before entering a property. We also are requesting all of our enterprise customers to prepare their property in advance of the Capture technician showing up so a Capture technician does not need to touch anything within the property in order to set it up for a scan. So, we really want to make sure that our Capture technicians are safe as they go and visit properties, and equally that they're not putting anyone at the property in danger, as well, through their presence, of being at that property. Linda McNair: Well, that's it. Thanks, Brendan and Jay, for the program overview. Now I'd like to introduce our panel: four of your esteemed colleagues who helped us shape the Matterport Capture Services program. First, I want to thank you all for being here, representing Matterport Capture Services and sharing your experiences being part of the program. Can you please take a moment to introduce yourselves and let us know how long you've been using Matterport in your businesses? Bill? Bill Robinson: I'm Bill Robinson. My company is Capture It 3D, and I'm located in the San Francisco Bay Area, and I've been scanning for about seven years now, and was a beta tester with the first scanner that Matterport made. Carlos Fernandez: Hi, I'm Carlos Fernandez. I'm with Tour It Now. We provide the Matterport Service in southern California, and we've been doing it since February of 2015. Chris Petracco: Hi. Chris Petracco, TrustedPhotoDC. Headquartered in Washington, DC and we... Probably in about 20 cities right now, scanning. Been a Matterport user since late 2015, but I've been in the immersive photography business for over 20 years, creating 360s. So, a long-time vendor. Basm Mohsen: Hey. Basm Mohsen from Virtual Space. We're based out of New York, Philadelphia, and Miami, and I've been with Matterport for three years, now. Linda McNair: Again, thanks to everyone for being here. I'm going to go ahead and cut to the chase, and start with the top concern: the worry that Matterport is trying to put this community out of business. Can you please talk about your experience? Have you seen incremental revenue as a result of this new program? Let's start with Bill. Bill Robinson: I certainly understand the concerns because I share those also when changes are made, but I haven't experienced any loss during the test period of over a year, and I've only gained from the program so far. Although, I'm sure that for some of the Capture technicians it may occur, I think it's going to be minimal and rather limited, and it also will very depend on each Capture technician's business model. And basically, ever since I started with Matterport seven years ago, I've been looking forward to a Capture Services program like this so we can maximize our opportunities with the large regional, national, international companies that simply aren't signing on and bringing us the sale that we need to get public awareness and grow our businesses. Through the Capture Services program, I added about 15% more buying to my business... and bear in mind, that's through a test program. During the last two quarters of 2019 and in January of this year, I saw substantial growth in interest, and I can see where the Capture Service program can probably generate anywhere from 25-30% of my business. Linda McNair: Wow, that's great. Thank you, Bill. How about you, Carlos? Since you've been part of the pilot program, have you seen incremental revenues a result of this program? Carlos Fernandez: Yes, we have. The Capture program has absolutely helped our business and contributed to our gross revenue overall. Similar to what Bill said, we've seen an incremental gain of about 15%, and that's over that test period. We see this... and by "we" I mean the company and I... we see the Capture Services program - an opportunity to bring more awareness rather than competing with providers, because the reality is the more awareness we can get out there, the more we can make people aware of this type of service, the more there is going to be for everybody else. So, we are all going to benefit from this type of nationwide provider network that Matterport's creating with the Capture Services Program. Linda McNair: Thanks, Carlos. How about you, Chris? Chris Petracco: So, the new scanning services program is not going to put people out of business. If anything, it's going to help them to get more work, and in our case for the last two years we've been using it to fill in and making sure all our cameras are always working, because if the cameras are sitting on the floor in your office it's not generating any revenue, just like if you have construction equipment. If it's sitting in the yard, it's costing you money. So, the more cameras you can have out and working all the time, it's only going to benefit your business. Chris Petracco: Now, as this webinar has said, this is going to be based - first 35 miles from major cities, or places that are going to be able to take advantage of this program. A lot of people, like in the MSP program, live too far away from people that want a scanning service. But maybe now, if some larger real estate companies that haven't touched this get involved, you might be getting business out in those areas in due time. So, this has... Like I said, it's filled in our gaps in the last month or so because of the pandemic, and we've been off the charts with work, and I hope everybody else is as successful as we are right now. We have seen a huge spike in scan services request from Matterport and from our own clients. Linda McNair: That's great news, Chris, thank you. And really good point about cameras doing no good sitting on the ground. Okay, off to Basm, in... Are you in Miami today? Basm Mohsen: I am there. Linda McNair: All right. Basm Mohsen: So, to echo what everybody's saying, we've definitely seen an increase in revenue because of the program. Same thing: we have multiple cameras, and I can't say that we're using them every single day. And so, having the capture services has definitely allowed us to just fill in the gaps two days a week, three days a week sometimes, especially in this last month. I can say that just the first half of March we received probably almost 10 requests from Matterport that we fulfilled at the time. So, it's something that we definitely welcome, for sure. Linda McNair: Great new, as well. All right. So, next top question, the big one: Is the pay per scan fair? So, please, would love your point of view on that. Bill Robinson: For me, I have found the risk to be very fair, and I do scans for several local real estate firms, marketing firms, and some national firms, and the Matterport rates align exceptionally well with what I'm being paid by these other companies. And, often it'll be a little bit better, and my own rates are in the middle of the market, and align well with my competition. So, each person's impression will depend upon what the Capture technician is generating in the market compared to their competition. Bill Robinson: When I was pursuing larger multi-family accounts my rates were slightly higher than the Matterport Capture Services rates, but when I take into account that I don't have any acquisition cost, I have no processing fees, no post-labor time for afterwards process, I come out as well if not ahead when I look into my overall time and labor rate. With all jobs that we do, sometimes we come out a little bit ahead, sometimes we come out a little bit behind. But overall, I'm very pleased with what the pay rate is, and I find it actually frees me up sometimes to do some other things to generate business that I would have spent trying to create business, or doing processing followup after the fact. So, for me it's worked out very, very well. Linda McNair: Great points. Thanks, Bill. How about you, Carlos? Carlos Fernandez: So, this is a great question and it's very important. Based on the number of requests that have come in for us, based on the cost required for us to be able to complete these, it is a fair pay. That's because, just like Bill said, we don't have the acquisition costs, we don't have the marketing costs involved, we don't have the post-processing costs involved. We're not worried about that customer support after the fact, and because also it's a secondary source of income for us. We still are doing our regular Matterport scans for our regular clients. So, this is something that's just additional to fill those gaps. So, we believe that the pay is fair for the services that are being provided here. And, we're in southern California. If we think that they're fair and it's kind of we're one of the more expensive markets, I think anybody in the middle of the country is going to be receiving a pay boost, basically. Linda McNair: Thanks, Carlos. Chris? Chris Petracco: There's been a lot of discussion about this on the interwebs, and in our particular case we have found we are profitable with these rates. We have a lot of people, a number of people that are working for us, and we pay hourly. So, when we look at jobs, for us to be cost-effective we know what we pay for our techs out in the field. An owner-operator may not be able to live on these numbers. Maybe they have lofty goals for retirement and they're trying to get it all in in one or two years. That might not work for you. But, running a business, we're a volume operator. So, when I see these numbers from Matterport, they fit into our overall business plan. Like I like to say, we like to get on base with singles and doubles. There's guys and gals out there that want to hit home runs, maybe they hit them every once in a while, but consistency is what makes us successful, and we can live with these numbers because, as everybody's already said, we're not providing other services. We're just doing the scans, we're not doing the marketing. We're not following up with customer service, we're just doing the scans. And one of the things... You hear it a lot these days, "pigs get fat and hogs get slaughtered." So, there's some folks out there that have been living large for a while, but that has quickly changed in this market. Linda McNair: That's a good point, and that's something that Brendan brought up earlier, which is all this is - is the scans, and there's additional services that you all may or may not provide, like additional photography, or aerial, or drone, or other types of services that don't, are your own, and that's on top of a scan basis just for scans. All right. And now, Basm? Basm Mohsen: Yeah. So, I really think the rates are fair given the fact that all you have to do is go capture the space, upload it, and that's it. You don't have to worry about marketing, you don't have to worry about going into the Workshop. It's really simple work, and at the same time I'm seeing that with Capture Services and the amount of requests that would be coming in, this is going to turn into volume work. So, instead of doing one job a day you might be doing three a day. You might be getting paid a little bit less per job, but I think at the end of the day it will add up to more than being just that one job that you do. And so, I definitely see this transitioning into a lot of jobs coming in for everybody, just because of all the heightened awareness around that goal. Linda McNair: Well, that dovetailed perfectly into the next question, which is: You've been part of the pilot, which is really a small fraction of what Brendan and Jay were talking about earlier, and the opportunity that's out there, and the accounts that we're closing on the commercial real estate side, which are larger jobs. So, just based on the pilot, have you seen an increase in scan requests? It sounds like you have. So, I'm going to start with Bill. Bill Robinson: Absolutely, and I just want to do a quick followup, if I can, from Basm's last comment. Often with multi-family, when we go over there we're not just doing one scan. We're really doing two, to five or more scans. So then you can really maximize your opportunity. And, my experience with requests... I'll share this statistic... is that in the first two and a half months of 2020, before our home shelter order went in place in mid-March, I had done as many scans in those two and a half months under the test program as I did in all of 2019, and the program was... I was involved with the program since the beginning of 2019. So, they've definitely been going at an uptick, and the uptick wasn't just from existing clients; in fact, the majority of it came from new clients that Capture Services brought online. So, I'm really excited about the possibility, and I can really see the opportunity for Capture technicians to increase their pace of business quite a bit, if not substantially. Linda McNair: This is great news. I didn't realize how success that it has been for you in such a short amount of time. Thank you for sharing that. Carlos? Carlos Fernandez: Yeah, this is for me the most exciting part of the whole program, because even though we don't know what the volume is going to be, the anticipation of what it can be is the really exciting part. Based on being part of the pilot program, we did receive sometimes 20%. There were months where it was double the amount of business that we would do in a certain month, which was surely welcomed. Though that was not the norm, it was something that the consistency was there as to a high volume of jobs. The really exciting part is that it's going to be a domino effect. It's going to be from several clients now to a lot more clients later, and not only through the Capture Services program, but that's going to heighten the awareness to increase my own business, my side of the scanning business, where we can get other clients because of the awareness that Matterport is going to be creating. So, that's... the anticipated volume... it's on both sides. It's on the side of the Capture Services program and it's on the side everybody's Matterport Service Provider business. Linda McNair: No, that's great, and the one point I want to make here is that the jobs that we send to all of you are enterprise rates that really aren't publicly available, and therefore, what you're saying is... I mean, I don't want to speak for you, so please confirm... but I think what you're saying is that that's just going to increase awareness for your services and be able, so you're able to charge the rates that you're already publicly displaying. Carlos Fernandez: Yeah, that's absolutely right, because not only do we do the scans, we provide other services. We customize the scans, we... the additional services that we include is what justifies the rates. So, when these customers are going to be seeing these Matterport scans from larger corporate clients, then that only magnifies our business for those that need it. Linda McNair: Thank you. All right, Chris? Chris Petracco: So, I've been involved.,.. I think it's since probably about May 2018. We visited Matterport headquarters after the Google Street View Summit at the Googleplex, and got a meeting, and that's when we started to be involved with the pilot at the time, though it was really just the scan services. I guess the multi-family was really holding what was there. And it has grown pretty much without any downtime, incrementally, every month. We got more and more work. In the last six weeks I've been very busy, and more people, I think, have learned about Matterport in the last month or so than may have learned about it in the last four or five years. So, if we're going to be asking how to get scans done if they're not interested in purchasing their own hardware to do this. If they're large enterprise clients they're going to be contacting Matterport, and Matterport's going to put these contracts together and we're going to see a boom in scan services, I think, over the next year. Basm Mohsen: I mean, I definitely see this as just the beginning. As Chris mentioned, just in the last month we have seen a huge increase in requests internally through our company, but also from Matterport, and just judging by some of these requests, I really see this as something that potentially would bring in hundreds, if not thousands of leads maybe a year from now. So, I think it's something that's good for everybody on the inside. Carlos Fernandez: And, Linda, I also think in the past there's always been concerns of trying to sell scanners to large companies and have them do their scans themselves, and this is the opposite approach, where you're not selling the scanner to them, you're hiring Capture technicians to do it instead. So, that should help alleviate some of that other concern. Linda McNair: Great point. Before I close, I wanted to open it up to all of you and ask if there's any questions that you're hearing from the community that maybe we didn't cover during this call. I think with all the questions we received before registration, during the registration process, and also what we've been seeing online, I think we've covered everything. But, if we didn't, did you want to bring it up here? Chris Petracco: Yeah, I've got a good one. So, a lot of people out in the interweb communities have... there's always been some negativity about Matterport, be it the sales, or people stealing clients, or customer service is slow. I'm going to tell you: the last year working with the scan services team, we've had a very, very good relationship without really any problems. Obviously, the ramp up to scale to nationwide and global, there could be some hiccups, but I've really got to say, the team that has been working on this has been very thorough. They've answered and attended to all of our issues, problems, and requests, and I've been very happy working with Matterport in this relationship. Linda McNair: Thank you, Chris. It means a lot. I know the teams have been hard at work trying to make this program what it is today, but we really couldn't have done it without all of you, really. Anything else from anyone, before I close? Bill Robinson: Well, for me, Linda, the thing for me is that when I first started scanning for Matterport seven years ago, all my previous marketing, sales experience, had been with existing product that had an existing clientele, and an existing market. I had never worked with a startup before, so my expectations were different than the reality, and it took a lot longer than I thought it would take. However, having been part of it for seven years, I see this as a culmination of all that prior work to put us into that position to become very large, on a global basis, and that's what's exciting to me, because I'm all in with Matterport. That's how I make my money, and if Matterport's successful, that's very important to me and every other Capture technician out there. Linda McNair: Rising tides lifts all boats. I think Jay said it earlier. That is definitely the point of the program. Well, again, thanks to the four of you for being here and taking your time to share your thoughts with the community, and for being part of this program and bringing it to life. We're really excited to launch it today. We're hoping this briefing was really informative to all of you, and if you have any additional questions, please join the conversation on MOUG, the Matterport Official User Group, on Facebook. If you don't know about it, please join. Of course, if you have any questions about the products, please contact the support team. There were a lot of questions that I saw earlier about products, so please give them a call. The URL is there. And again, thanks for joining us, and look forward to an email invitation to apply for Matterport Capture Services today after this call. Thanks again.
	5 years ago	Post 1 • IP flag post

WGAN Basic Member 1.06K Website Denver Facebook We Get Around Network Member	1.06K pixelray private msg quote post Address this user	plus 1 plus 1 plus 1 3
	Great...Colliers has been a long time customer.
	5 years ago	Post 2 • IP flag post

WGAN Basic Member 1.06K Website Denver Facebook We Get Around Network Member	1.06K pixelray private msg quote post Address this user	plus 1 plus 1 plus 1 3
	@dan...I guess I'm gonna have to have that negotiation with them sooner than expected....yeah...heavy sarcasm. I worked hard to get their business in Denver. And have been servicing their local needs here for a few years now. Actually on a job right now for them. This sucks.
	5 years ago	Post 5 • IP flag post

Transcript: Matterport Capture Services Webinar | Thursday, 16 April 202011557