Change in matterport payment instructions, impact from SVB failure18407
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dave3d private msg quote post Address this user | |
| Matterport banked at Silicon Valley Bank? After the collapse they are changing to Chase now? We’ll see what impact that has on their financial position. Does this have anything to do with the new marketing pop-up? The phrase “extinction level event” is a tad scary! Deseret News (10 March 2023) The seismic impact of Silicon Valley Bank’s failure is rocking Silicon Slopes companies in Utah CNBC (10 March 2023) Companies scramble to meet payroll, pay bills after SVB’s swift failure --- From Matterport: I am writing to inform you of an immediate change in payment instructions resulting from the recent developments and closure of Silicon Valley Bank (SVB) on Friday, March 10, 2023. As a result, Matterport is moving its receivables account to JP Morgan Chase Bank. If you make payments to us via ACH, Wire Transfer, or physical check, our previously provided payment instructions to Matterport’s SVB account are no longer valid. Therefore, we request that you immediately update the payment instructions for Matterport invoices and make all future payments to Matterport in accordance with the following banking instructions along with related remittance support. New ACH/Wire Banking Instructions: Bank Name: JPMorgan Chase New York, NY 10017 Bank Routing Number: [redacted] SWIFT Code: [redacted] Account Name: Matterport, Inc Account Number: [redacted] Any payments not remitted per the updated instructions above may not be credited to your account. We apologize for any inconvenience this may cause. Should you have any questions or concerns regarding setting up your ACH or Wire payments, please do not hesitate to contact us. Thank you for your cooperation. JD Fay Chief Financial Officer Matterport Inc |
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 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
 Source: Matterport February 22, 2023 | Fourth Quarter 2022 Financial Results --- Source: Matterport @dave3d Thanks for posting the Matterport eBlast. I (just) sent this email to Matterport Investor Relations: --- Hello [redacted], What is Matterport’s uninsured cash exposure to Silicon Valley Bank? For clarification, on the Matterport, Inc. 2022 year-end Condensed Consolidated Balance Sheets, it shows $476,902,000 in cash and investments including: 1. Cash and cash equivalents of: $117,128,000 2. Short-term investments of: $355,815,000 I will publish your reply in the We Get Around Network Forum. Thanks, Dan --- 9:05 am ET Saturday, 11 March 2023 |
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SpencerLasky private msg quote post Address this user | |
| So I guess that's an legit letter from Matterport - can't tell any more what is real and what is phishing - it would be logical it could be a smart way to get your money... but if we are saying that is real good, great use of their group. Spencer |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
 @SpencerLasky Always a good idea to exercise caution about phishing emails. Above is a screen grab of the email-letter that I received. I went to My.Matterport.com and confirmed that we pay by credit card: not ACH. (note that I did not click on the one link in the letter (that should have shown the actual URL). Best, Dan |
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 WGAN StandardMember New York City |
Jonathan_Klein private msg quote post Address this user | |
| https://twitter.com/BillAckman/status/1634564398919368704?s=20 | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
  Screen Grab of a Tweet by Billionaire Bill Ackman @Jonathan_Klein Thank you for sharing ... Quote: Originally Posted by Jonathan_Klein I posted a screen grab of the Twitter post by Billionaire Bill Ackman (above). Plus, for context and insight: Insider (10 March 2023) Billionaire investor Bill Ackman calls on the US government to consider a bailout of Silicon Valley Bank if private investors won't step up Insider (10 March 2023) Wondering what the hell just happened at SVB? Here's everything you need to know Plus, this ... David Cummings on Startups (11 March 2023) Bank Hygiene for Startups Dan |
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Philly private msg quote post Address this user | |
| He could've saved himself the essay and just tweeted "I have a lot of money I'm going to lose someone please help" | ||
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 WGAN FanClub Member Queensland, Australia |
Wingman private msg quote post Address this user | |
| A bit strange that they have sent it to everyone even to those located outside of USA and paying with a credit card. Credit cards payments should not be affected by their bank problems, unless they are using their bank system for processing payments for subscription. | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
Quote:Originally Posted by DanSmigrod Matterport Investor Relations replied: —- Hi Dan, You probably saw the latest news that the government has stepped in to fully protect all deposits but our exposure was quite low anyway and no direct impact to our ongoing operations. Thanks, [redacted] ——- [9 pm ET Monday, 13 March 2023 |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| Video: How Matterport Users Can Survive in 2023 | Video courtesy of Momentum 360 YouTube Channel | 20 March 2023 @Momentum360 Hi All, Sean @Momentum360 thanks for the shout-out. Note: What is Matterport’s uninsured cash exposure to Silicon Valley Bank? For clarification, on the Matterport, Inc. 2022 year-end Condensed Consolidated Balance Sheets, it shows $476,902,000 in cash and investments including: 1. Cash and cash equivalents of: $117,128,000 2. Short-term investments of: $355,815,000 Additionally, Matterport emailed: —- Hi Dan, You probably saw the latest news that the government has stepped in to fully protect all deposits but our exposure was quite low anyway and no direct impact to our ongoing operations. Thanks, [redacted] ——- [9 pm ET Monday, 13 March 2023 Best, Dan P.S. Here is the software that Sean mentioned in the video above. |
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