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Inspirato LLC announces the completion of its business combination with Thayer Ventures Acquisition Corporation, changing its name to Inspirato Incorporated. This move positions Inspirato to trade on Nasdaq under the ticker symbols 'ISPO' and 'ISPOW' starting February 14, 2022. Co-founders Brent and Brad Handler express excitement over expanding the company's luxury travel offerings and subscriber base. The business aims to innovate in the luxury travel subscription market, emphasizing customer satisfaction and growth opportunities.
Inspirato LLC reported record third-quarter revenue of $65 million, reflecting a 52% increase year-over-year and a 15% increase compared to Q3 2019. The company achieved an Annual Recurring Revenue (ARR) of $116 million, a 27% increase year-to-date. Active subscribers rose to 13,191, while total subscriptions hit 14,114, both records for the company. Despite the positive metrics, Inspirato reported a net loss of $9.1 million for the quarter. With a strong cash balance of $81.8 million, the company aims to exceed 2021 revenue expectations of $222 million.
NoiseAware, a leader in smart noise monitoring, has secured $8 million in Series A funding led by S3 Ventures and Thayer Ventures (NASDAQ: TVACU). This investment aims to accelerate product innovation and market expansion, positioning NoiseAware to enhance its services in the short-term rental industry as well as multifamily communities. The company has already monitored over one million stays and saved property owners $105 million in lost rental revenue. New board members and a strengthened leadership team will support its growth strategy.
Thayer Ventures Acquisition Corporation (NASDAQ:TVACU) announced that starting February 9, 2021, holders of its initial public offering units can separate and trade shares of Class A common stock and redeemable warrants. Originally trading under symbol TVACU, separated shares will be traded under symbols TVAC and TVACW. The initial offering comprised 17,250,000 units and was managed by Stifel, Nicolaus & Company, Inc. and Oppenheimer & Co. Inc. This announcement follows the effectiveness of the registration statement on December 10, 2020.
Thayer Ventures Acquisition Corporation (NASDAQ: TVACU) successfully closed its initial public offering, raising $172.5 million by issuing 17,250,000 units at $10.00 each. This includes 2,250,000 units issued due to the underwriters' over-allotment option. The units began trading on Nasdaq on December 11, 2020. Each unit consists of one share of Class A common stock and one-half of a redeemable warrant, with full warrants priced at $11.50. The company aims to pursue business combinations primarily in the travel and transportation technology sectors.
Thayer Ventures Acquisition Corporation (TVAC) has filed a Registration Statement on Form S-1 with the SEC for a proposed $175 million initial public offering (IPO) consisting of 17.5 million units priced at $10.00 each. Each unit comprises one share of Class A common stock and one-half of a redeemable warrant, with whole warrants priced at $11.50 per share. The funds aim to facilitate a business combination in the travel and transportation technology sectors. The offering is managed by Stifel and Oppenheimer & Company.
