Jellis Craig Stonnington Leases Australia Properties Faster and Cuts Costs with Matterport

Rhea-AI Summary

Matterport, Inc. is set to merge with Gores Holdings VI (NASDAQ: GHVI, GHVIU) to enhance its market position in the real estate sector. Jellis Craig Stonnington, utilizing Matterport’s 3D technology, has reported substantial operational cost savings of nearly AUD$200,000 annually and improved sales conversions, leasing 80 properties unseen in three months. Research indicates a growing demand for 3D listings, with 72% of renters willing to lease without in-person visits. This technology is expected to play a pivotal role in Jellis Craig's future business strategies and client engagement.

Positive

• Jellis Craig Stonnington saved approximately AUD$200,000 annually by utilizing Matterport 3D technology.
• The agency leased 80 properties sight-unseen within three months, demonstrating significant operational efficiency.
• Research shows 72% of renters are willing to lease without seeing properties in person if 3D tours are available.

Negative

• None.

SYDNEY, June 8, 2021 /PRNewswire/ -- Matterport, Inc., the leading spatial data company driving the digital transformation of the built world which has entered into a definitive agreement to enter into a business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU, and GHVIW), today announced that one of Australia's leading realtors for sought-after Melbourne real estate, Jellis Craig Stonnington, is accelerating its use of Matterport 3D technology to power and differentiate its high-end property listings with more authentic and immersive real estate experiences for customers. Using Matterport, Jellis Craig Stonnington reduced its annual operating expenses by nearly AUD$200,000, achieved significant sales conversions, and leased 80 properties sight-unseen during a three-month period.

Jellis Craig Stonnington has also realised a number of business efficiencies using Matterport. The company doubled the productivity of its agents with more streamlined operations driven by virtual viewings. With 3D listings available to prospective buyers or tenants globally, Jellis Craig Stonnington has closed sales or lettings directly with interstate- or internationally-relocating clients, reducing its reliance on global relocation agents. Jellis Craig Stonnington estimates that its transition to listings with Matterport 3D experiences has saved it between $150,000-$200,000 per year.

New research from Matterport confirms growing demand for 3D listings, with data showing that 72% of renters would lease an apartment or home without ever seeing it in person if it included a 3D tour. 95% of people surveyed said they would be more likely to rent a property if its listing included a 3D tour. Matterport provides dimensionally-accurate digital twins filled with rich data to power 3D listings, enabling potential buyers and renters to view, interact with, and more deeply understand properties. Matterport's add-on features and integrations also give greater insight into properties - both for potential buyers and sellers, as well as real estate agents.

Jellis Craig Stonnington is also leveraging Matterport's platform integration with PHORIA which unlocks detailed intelligence and listing performance analytics to provide an in-depth view of how clients interact with listings, including what rooms and spaces they look at and for how long. This information enables Jellis Craig Stonnington to better understand prospective buyer engagement with a listing, such as comparing which rooms are being viewed within a property and making adjustments if inquiries are fewer than anticipated.

Sam Nokes, Head of Property at Jellis Craig Stonnington, commented: "Matterport technology aligns with Jellis Craig Stonnington's commitment to progressive thinking and innovation. As one of Melbourne's first realtors to adopt Matterport, we initially added 3D virtual tours to rental listings about four years ago. Since then, we have seen demand for 3D virtual tours quadruple, as clients are impressed by their authenticity. Matterport has enabled Jellis Craig Stonnington to win new business, as clients know our listings reflect the true condition of properties. We saw a surge in demand during the pandemic which has continued, and we plan to continue using Matterport going forward."

Bruce Wells, Asia Pacific Managing Director at Matterport, commented: "Melbourne's real estate sector is one of the most competitive in Australia, so estate agents must constantly differentiate to win clients. Matterport's technology enables real estate agents to achieve an edge through authentic, immersive and navigable 3D experiences, detailed analytics, and efficiency gains. By leveraging Matterport's powerful insights and integrations, Jellis Craig is positioning itself at the forefront of the sector's rapid transformation, which harnesses technology to drive deeper understanding and analysis of listing performance."

 

About Matterport
Matterport is leading the digital transformation of the built world. Our groundbreaking spatial computing platform turns buildings into data making every space more valuable and accessible. Millions of buildings in more than 150+ 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.

In February 2021, Matterport announced that it has entered into a definitive agreement to enter into a business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU, and GHVIW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, that will result in Matterport becoming a publicly listed company. Upon closing of the proposed business combination, the combined company will be named "Matterport, Inc." and intends to remain listed on NASDAQ under the ticker symbol "MTTR."

©2021 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.

For more information, please visit https://matterport.com/en-gb

About Jellis Craig
Jellis Craig is a leading real estate group based in Melbourne, Australia, that is distinguished by a commitment to progressive thinking and innovation. Founded in 1991, the company specialises in selling and leasing high-end properties in and around the Australian state of Victoria. 

For more information, please visit https://www.jelliscraig.com.au/

Matterport Media Contact:
Naomi Little
Global Communications Manager
press@matterport.com 
+44 203 874 6664

Investor Contact:
Soohwan Kim, CFA
VP, Investor Relations
ir@matterport.com

Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed business combination between Gores Holdings VI, Inc. ("Gores") and Matterport, Inc. ("Matterport"), including statements regarding the benefits of the proposed business combination, the anticipated timing of the proposed business combination, the services offered by Matterport and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Gores' or Matterport's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "forecast," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions (including the negative versions of such words or expressions).

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the price of Gores' securities; (ii) the risk that the proposed business combination may not be completed by Gores' business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Gores; (iii) the failure to satisfy the conditions to the consummation of the proposed business combination, including the approval of the proposed business combination by Gores' stockholders, the satisfaction of the minimum trust account amount following redemptions by Gores' public stockholders and the receipt of certain governmental and regulatory approvals; (iv) the effect of the announcement or pendency of the proposed business combination on Matterport's business relationships, performance, and business generally; (v) risks that the proposed business combination disrupts current plans of Matterport and potential difficulties in Matterport employee retention as a result of the proposed business combination; (vi) the outcome of any legal proceedings that may be instituted against Gores or Matterport related to the agreement and plan of merger or the proposed business combination; (vii) the ability to maintain the listing of Gores' securities on the NASDAQ; (viii) the price of Gores' securities, including volatility resulting from changes in the competitive and highly regulated industries in which Matterport plans to operate, variations in performance across competitors, changes in laws and regulations affecting Matterport's business and changes in the combined capital structure; and (ix) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in Gores final proxy statement/information statement/prospectus contained in the registration statement on Form S-4, including those under "Risk Factors" therein, and other documents filed by Gores from time to time with the U.S. Securities and Exchange Commission (the "SEC"). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Gores and Matterport assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Gores nor Matterport gives any assurance that either Gores or Matterport will achieve its expectations.

Additional Information and Where to Find It

In connection with the proposed business combination, Gores has filed a registration statement on Form S-4 that includes a proxy statement of Gores, an information statement of Matterport and a prospectus of Gores. The proxy statement/information statement/prospectus is not yet effective. The definitive proxy statement/information statement/prospectus, when it is declared effective by the SEC, will be sent to all Gores and Matterport stockholders as of a record date to be established for voting on the proposed business combination and the other matters to be voted upon at a meeting of Gores' stockholders to be held to approve the proposed business combination and other matters (the "Special Meeting"). Gores may also file other documents regarding the proposed business combination with the SEC. The definitive proxy statement/information statement/prospectus will contain important information about the proposed business combination and the other matters to be voted upon at the Special Meeting and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. Before making any voting decision, investors and security holders of Gores and Matterport are urged to read the registration statement, the proxy statement/information statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed business combination as they become available because they will contain important information about the proposed business combination.

Investors and security holders will be able to obtain free copies of the proxy statement/information statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Gores through the website maintained by the SEC at www.sec.gov, or by directing a request to Gores Holdings VI, Inc., 6260 Lookout Road, Boulder, CO 80301, attention: Jennifer Kwon Chou or by contacting Morrow Sodali LLC, Gores' proxy solicitor, for help, toll-free at (800) 662-5200 (banks and brokers can call collect at (203) 658-9400).

Participants in Solicitation

Gores and Matterport and their respective directors and officers may be deemed to be participants in the solicitation of proxies from Gores' stockholders in connection with the proposed business combination. Information about Gores' directors and executive officers and their ownership of Gores' securities is set forth in Gores' filings with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed business combination may be obtained by reading the proxy statement/information statement/prospectus regarding the proposed business combination. You may obtain free copies of these documents as described in the preceding paragraph.

Disclaimer

This document relates to a proposed business combination between Gores and Matterport. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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SOURCE Matterport

FAQ

What benefits does Matterport provide to Jellis Craig Stonnington?

Matterport helps Jellis Craig Stonnington reduce operational costs by approximately AUD$200,000 annually and improves property leasing efficiency with 3D technology.

How much did Jellis Craig save using Matterport technology?

Jellis Craig Stonnington estimates annual savings of AUD$150,000 to AUD$200,000 by incorporating Matterport's 3D technology.

What percentage of renters would lease a property without seeing it in person?

72% of renters indicated they would lease an apartment or home without an in-person visit if a 3D tour was available.

What is the ticker symbol for Gores Holdings VI?

The ticker symbol for Gores Holdings VI is GHVI, including its units GHVIU.