Question of the Day: Have you/will you buy stock in Matterport (MTTR)?14189
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| I bought with enthusiasm near the ATH, after buying the Pro2 and realizing the potential application across multiple industries. It was a poor investment decision believing in the product and technology without examining the business model. Fortunately, I invested only what I was willing to lose. | ||
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 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
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| Matterport Media Release Matterport, the Global Leader in 3D Digital Twins, to be Acquired by CoStar Group SUNNYVALE, California, Monday, April 22, 2024 (GLOBE NEWSWIRE) -- Matterport, Inc. (NASDAQ: MTTR), The spatial data company leading the digital transformation of the built world, announced today that it has entered into a definitive agreement with CoStar Group, Inc., a leading provider of online real estate marketplaces, information and analytics in the property markets, pursuant to which CoStar Group will acquire all outstanding shares of Matterport in a cash and stock transaction valued at $5.50 per share, representing an equity value of approximately $2.1 billion and an enterprise value of approximately $1.6 billion based on the closing price for CoStar Group common stock on April 19, 2024. Under the terms and subject to the conditions of the agreement, which has been unanimously approved by Matterport’s Board of Directors, Matterport stockholders will receive $2.75 in cash and $2.75 in shares of CoStar Group common stock for each share of Matterport common stock. Founded in 2011, Matterport pioneered the development of the first 3D capture solution to deliver dimensionally accurate, photorealistic virtual tours or “digital twins” for any type of property. Matterport’s proprietary and patented technology enables anyone to digitize a property using a variety of camera technologies including cameras found on most smartphones. Matterport also produces a line of innovative 3D capture devices, including the company’s flagship LiDAR-based Pro3 camera which is capable of high-precision indoor and outdoor capture. At the center of the solution is Cortex, a powerful artificial intelligence software engine that automatically generates the 3D digital twin and virtual tour while providing property insights like detailed property dimensions, room layouts, and more. Matterport's 3D technology is utilized in nearly every sector of real estate, spanning residential, commercial, hospitality, retail, and industrial spaces, among others. Over the years, Matterport has curated what is considered the largest and most precise collection of spatial property data worldwide, with over 12 million spaces captured in 177 countries, and representing more than 38 billion square feet of digital property under management. Contributing to this growth, Matterport has established a global network of several thousand photographers, capture services technicians, and service partners producing hundreds of thousands of new 3D digital twins for properties each month. CoStar Group operates some of the most effective and widely recognized real estate information solutions and online property marketplaces in the world including Apartments.com, LoopNet, CoStar, and Homes.com, all of which feature Matterport’s 3D virtual tours. CoStar Group was one of the first adopters of Matterport’s technology, and currently has almost 300,000 Matterport digital twins available in the CoStar information product and online property marketplaces. Advertisers on CoStar Group marketplaces clearly recognize the value of Matterport virtual tours. In March 2024, there were over 7.4 million views of Matterport 3D Tours on Apartments.com, with consumers spending 20% more time viewing an apartment listing when Matterports were available. CoStar Group intends to utilize Matterport in a similar fashion on Homes.com to further enhance the most comprehensive agent, seller and buyer friendly residential portal on the market. “CoStar Group and Matterport have nearly identical mission statements of digitizing the world’s real estate. I look forward to welcoming Matterport to the CoStar Group family and believe that we will be stronger together, in pursuit of our common mission,” said Andy Florance, Founder and CEO of CoStar Group. “The world has changed and today a Matterport is the new open house or property tour. People now select their next home, apartment, office, store, hotel, or warehouse on their mobile device often without ever visiting the property. There is no better way to remotely experience space than via Matterport. CoStar Group intends to support and invest in research and development opportunities to further develop Matterport’s spatial technology, including the application of AI and machine learning to extract information from the 3D spatial data library as well as using generative artificial intelligence to imagine and reimagine physical spaces.” RJ Pittman, Chair and CEO of Matterport said, “We are thrilled to join forces with CoStar Group, a long-standing customer and partner with a shared vision for transforming global real estate through technology and digitization. This transaction is another significant milestone that acknowledges the groundbreaking work Matterport has accomplished in 3D digital twin technology and AI-driven property intelligence. With CoStar Group's expansive reach and scale in property research and analytics and our joint commitment to innovation, we believe that this powerful combination will transform how properties are marketed, sold, and managed worldwide. Importantly, it offers Matterport's stockholders the opportunity to participate in the value creation and future growth prospects of our combined efforts.” The transaction, which is expected to be completed during the year, is subject to the approval of Matterport stockholders and the satisfaction of customary closing conditions, including applicable regulatory approvals. Directors, Officers and certain other stockholders of Matterport, representing approximately 15% of Matterport’s fully diluted shares, have entered into voting agreements to support the transaction. The transaction is subject to a 10% symmetrical collar based on a CoStar Group share price of $86.02 as the midpoint. Qatalyst Partners is serving as financial advisor and Foley & Lardner LLP is serving as legal advisor to Matterport. INVESTOR RELATIONS: Mike Knapp ir@matterport.com About Matterport Matterport, Inc. (NASDAQ: MTTR) is the World’s #1 Digital Twin Platform* leading the digital transformation of the built world. Our groundbreaking platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins. ©2024 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners. *Largest digital twin cloud hosted platform for the built world sq. ft. scanned. Data on file. About CoStar Group, Inc. CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over twelve million monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted over 160 million unique monthly visitors in September 2023. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. Important Additional Information Regarding the Proposed Transaction Will Be Filed with the SEC and Where to Find It In connection with the proposed transaction, CoStar intends to file with the SEC a registration statement on Form S-4 (the “Registration Statement”) to register the shares of CoStar’s common stock to be issued in connection with the proposed transaction. The Registration Statement will include a document that serves as a prospectus of CoStar and proxy statement of Matterport (the “proxy statement/prospectus”), and each party will file other documents regarding the proposed transaction with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, INCLUDING THE PROXY STATEMENT/PROSPECTUS, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND OTHER RELEVANT DOCUMENTS FILED BY MATTERPORT AND COSTAR WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT MATTERPORT AND COSTAR, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO AND RELATED MATTERS. After the Registration Statement has been declared effective, a definitive proxy statement/prospectus will be mailed to stockholders of Matterport as of the record date. Investors will be able to obtain free copies of the Registration Statement and the proxy statement/prospectus, as each may be amended from time to time, and other relevant documents filed by Matterport and CoStar with the SEC (when they become available) through the website maintained by the SEC at sec.gov. Copies of documents filed with the SEC by Matterport, including the proxy statement/prospectus (when available), will be available free of charge from Matterport’s website at investors matterport.com. Copies of documents filed with the SEC by CoStar, including the proxy statement/prospectus (when available), will be available free of charge from CoStar’s website at http://investors.costargroup.com/. Participants in the Solicitation Matterport and certain of its directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from Matterport’s stockholders with respect to the proposed transaction. Information about Matterport’s directors and executive officers is available in Matterport’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 27, 2024 and its definitive proxy statement for the 2023 annual meeting of stockholders filed with the SEC on April 27, 2023, and in the proxy statement/prospectus (when available). Other information regarding the participants in the solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Registration Statement, the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when they become available. Stockholders of Matterport, potential investors and other readers should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. No Offer or Solicitation This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. Source: Matterport viA GLOBE Newswire |
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| Video: Matterport Buyout at 216% Premium: What to Do Now | Video courtesy of Asymmetric Investing by Travis Hoium YouTube Channel | 22 April 2024 | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| TechCrunch (23 April 2024) Y Combinator alum Matterport is being bought by real estate juggernaut CoStar at a 212% premium | ||
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| Matterport Media Release --- Matterport Cancels First Quarter 2024 Conference Call Following Definitive Agreement to be Acquired by CoStar Group SUNNYVALE, California, Friday, April 26, 2024 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR) (“Matterport” or the “Company”), the leading spatial data company driving the digital transformation of the built world, today announced that it will no longer hold its first quarter results conference call originally scheduled for Monday, May 6, 2024 at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) due to the April 22, 2024 announcement that Matterport has entered into a definitive agreement to be acquired by CoStar Group, Inc. Due to the pending transaction, Matterport will not be providing quarterly financial guidance. On Monday, May 6, Matterport will issue its first quarter earnings press release and post supplemental earnings information on its website: Investors.Matterport.com About Matterport Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins. ©2024 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners. Source: Matterport via Globe Newswire |
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| Video: Is CoStar Overpaying for Matterport? | Video courtesy of Online MarketPlaces YouTube Channel | 26 April 2024 | ||
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| Video: Committee's standout stocks this week: Vertiv, NXP, Palantir and Matterport | Video courtesy of CNBC Television YouTube Channel | 26 April 2024 Matterport starts at 3:10 |
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3DPhoto private msg quote post Address this user | |
| Who is selling or holding MTTR after acquisition? What are you thinking and why? I bought at 8.00, 6.50, 4.80 and 2.00. After two years, I have a current deficit. Acquisition will buyout at 2.75 plus 2.75 in shares. If I cash out, I will be up 15 percent and can move on without looking back. If I continue to hold MTTR, I have to keep my fingers crossed that Costar will expand Matterport and grow across new markets. After two years, I'm not exactly bullish. I don't know enough about Costar companies to decide if Matterport will be used to control competition or lift overall usage and MTTR to new heights. |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| @3DPhoto Thanks for the WGAN Question of the Day .... ✓ Who is selling or holding MTTR after acquisition? What are you thinking? Dan |
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 WGAN AI Assistant for @DanSmigrod Atlanta, Georgia |
AI_DanSmigrod private msg quote post Address this user | |
| Hi All, @DanSmigrod created this GPT: CoStar to Acquire Matterport | Ask the SEC Filings. The knowledge base includes all SEC files by Matterport and CoStar Group between 22 April 2024 and 31 May 2024 and some WGAN Forum posts. Try it and let us know what you think. Don't have access yet to the free ChatGPT that can use this free GPT? Ask your CoStar planned acquisition of Matterport in this discussion and @AI_DanSmigrd will ask the GPT for you.  Dan |
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| Video: Is Matterport a Buy Ahead of $5.50 Buyout? | Video courtesy of Asymmetric Investing by Travis Hoium YouTube Channel | 5 June 2024 | ||
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  eBlast received Tuesday, 18 June 2024 Proxy Statement Materials  Screen Grab  Screen Grab |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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 Screen Grab (with personally identifiable info redacted in red) |
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| Matterport Media Release ---  Matterport News Video: Matterport Announces Second Quarter 2024 Financial Results | Video courtesy of WGAN-TV YouTube Channel | Tuesday, 6 August 2024 WGAN Forum Podcast | Episode #311 Matterport Announces Second Quarter 2024 Financial Results |
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| Yahoo! Finance (16 October 2024) Why Matterport, Inc. (MTTR) is the Hottest Penny Stock to Invest in According to Hedge Funds | ||
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3DPhoto private msg quote post Address this user | |
| I'm on the fence. Don't think I'll follow the hedge funds if they've been holding as long as we have. I finally became even again from the recent gains. I can sell and put those funds into something better. However, I've been waiting for any news about the acquisition. When is it scheduled and does the comeback increase valuation of our buyout and stake in Costar? | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| @3DPhoto My understanding is that Costar and Matterport are waiting for a review by the FTC of the pending acquisition of Matterport by Costar (For clarification, the acquisition is subject to regulatory approval). Best, Dan |
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| Price was sitting firmly between 4.70-4.80 for few weeks. I'm wondering if the 5.50 valuation is a hindrance to climbing above that level. If MTTR naturally goes above 5.50 before approval, are current holders still bought out at only 5.50? Obviously, we should sell, right? | ||
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| [b]VHT Studios[/b] (a division of Matterport) is a We Get Around Network Marketing Partner --- Matterport News Matterport Announces Record Third Quarter 2024 Financial Results 1. Record total revenue of $43.8 million, up 8% year-over-year 2. Q3 annualized recurring revenue crosses $100 million milestone, up 11% year-over-year 3. Net loss improved 14% year-over-year; Non-GAAP net loss improved 80% year-over-year 4. Total subscribers grew to 1.1 million, up 25% year-over-year 5. Square feet under management reached 47.3 billion, up 34% from prior year SUNNYVALE, Calif., Tuesday, November 12, 2024 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR) (“Matterport” or the “Company”), the leading spatial data company driving the digital transformation of the built world, today announced financial results for the quarter ended September 30, 2024. “I’m pleased to share our third-quarter 2024 results, highlighting our continued success driving efficient growth,” said RJ Pittman, Chairman and CEO of Matterport. “Total square feet managed reached 47.3 billion, up 34% year-over-year, with annual recurring revenue hitting a record $101.5 million, an 11% increase year-over-year,” Pittman added. “Our Fall 2024 Release introduced groundbreaking AI-powered tools designed to elevate digital twin applications and real estate listings. With one-click defurnishing and automated property descriptions from a Matterport digital twin, customers save time, streamline workflows, and enhance their listings. Features like 3D model merge, field tags, and bill-back processing bring unmatched speed, efficiency, and precision to managing spaces at scale for agents, contractors, and enterprise teams alike.” “We believe our innovation pipeline is the strongest it’s ever been, and with customers raving about our Fall 2024 Release, we’re setting the stage for more bold, product-led growth in 2025,” Pittman concluded. “Our strong third quarter performance propelled the company to a new record for total revenue, $43.8 million, up 8% year-over-year,” said JD Fay, Chief Financial Officer of Matterport. “Further, our continued focus on operating expense discipline helped deliver near break-even results, yielding a non-GAAP loss per share of just $0.01. These results demonstrate that customers continue to adopt Matterport while underscoring our commitment to growth and profitability.” Third Quarter 2024 Financial Highlights 1. Square feet under management reached 47.3 billion, up 34% year-over-year 2. Spaces under management reached 13.6 million, up 22% year-over-year 3. Total subscribers reached 1.1 million, up 25% year-over-year 4. Subscription revenue of $25.4 million, up 11% year-over-year 5. Annualized Recurring Revenue (ARR) was $101.5 million 6. Total revenue was $43.8 million 7. Net loss of $0.12 per share; Non-GAAP net loss of $0.01 per share, which is a 75% improvement year-over-year 8. Cash used in operating activities was $18.6 million for the first nine months of 2024, a 61% improvement year-over-year Recent Business Highlights Announced the Fall 2024 Release, a groundbreaking suite of new tools designed to reshape the way professionals design, build, and market properties. Through the power of generative AI, Matterport users can now easily reimagine the potential of any space, transforming digital twins from static replicas into dynamic canvases for creativity. Announced that Matterport is contributing to the promotion of digital twin use by Tokyu Construction Co., Ltd., an advanced digital utilization company in civil engineering and infrastructure construction. Matterport's digital twin solutions are used in a wide range of phases of construction projects, including current status surveys, completed form management, streamlining and enhancing the scanning of point cloud data, and facilitating consensus building and communication among construction-related parties. In August, Matterport released its third Environmental, Social, and Governance Report which sets ambitious targets for the Company’s top ESG priorities, including reducing emissions and fostering gender equality in the workplace. The new Report also showcases the Company’s success helping its more than one million subscribers reduce their own carbon emissions by using Matterport’s digital twins to reduce travel to the more than 13 million spaces that are on the Matterport digital twin platform. Transaction with CoStar Group, Inc. Given the pending acquisition of Matterport by CoStar Group, Inc. that was announced on April 22, 2024, Matterport will not be holding a conference call or live webcast to discuss quarterly financial results. Also, in light of the pending transaction, the Company had previously suspended its financial guidance for the full fiscal year 2024 and will not be providing financial guidance for the upcoming fiscal quarter. At a special meeting of stockholders held on July 26, 2024, Matterport stockholders approved the transaction with CoStar Group, Inc. The completion of the transaction remains subject to the expiration or termination of the waiting period imposed by the Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended, and the satisfaction or waiver of the other closing conditions specified in Matterport’s agreement with CoStar Group, Inc. The transaction is expected to close in the fourth quarter of 2024 or the first quarter of 2025. About Matterport Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins. ©2024 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners. --- Source: Matterport via Globe Newswire === Video: Matterport Announces Record 3Q2024 Financial Results | Discussion by Google NotebookLM AI | Video courtesy of WGAN-TV YouTube Channel | 12 November 2024 WGAN Forum Podcast | Episode #340 @Meidansha @MeshImages Thank you for your notes on the Matterport news. I asked Google NotebookLM AI to discuss the Matterport media release for Matterport Service Providers that read the We Get Around Network Forum. Above is "their" thoughts. For clarification, this 15 minute podcast was researched, written, produced and voiced in about 10 minutes, based on the Matterport media release (above). Your thoughts on the AI's thoughts? Best, Dan |
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| MarketBeat (20 November 2024 Alpine Associates Management Inc. Acquires 744,582 Shares of Matterport, Inc. (NASDAQ:MTTR) | ||
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| Seeking Alpha (9 December 2024) Matterport's Arbitrage Opportunity, Navigating The CoStar Acquisition Deal (Rating Upgrade) "The final deadline, or "Outside Date," for the completion of the CoStar-Matterport merger is January 21, 2025, with provisions for three possible 90-day extensions to accommodate regulatory approvals if necessary," according to this GPT (trained on some of the original documents filed with the SEC). Dan |
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