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On July 22, 2021, Matterport, Inc. completed its business combination with Gores Holdings VI, now trading under the ticker symbol 'MTTR' from July 23, 2021. The transaction received stockholder approval on July 20, 2021, bringing in approximately $605 million in cash, bolstered by institutional investment. Matterport leads in spatial data technology, transforming physical spaces into digital twins. The company reported a 108% revenue increase to $26.9 million for Q1 2021, anticipating annual recurring revenue of $55.2 million and a subscriber growth of 531% year over year, reaching 331,000.
Matterport, Inc. will release its fiscal 2021 Q2 financial results on August 11, 2021, after market close. A conference call will be held at 2:00 p.m. PT (5:00 p.m. ET) for discussion of results. The call can be accessed at matterport.com/investors. Earlier this year, the company announced its proposed business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU), which will result in Matterport listing under the ticker symbol MTTR.
Matterport, Inc. announced the appointment of Brandt Kucharski as Chief Accounting Officer as part of its definitive agreement with Gores Holdings VI (NASDAQ: GHVI, GHVIU). Kucharski will manage financial reporting and corporate controls as Matterport transitions to a public company. Previously, he was Chief Accounting Officer at Grubhub, where he led its $2.04 billion IPO and the $7.3 billion acquisition by Just Eat Takeaway.com. This leadership change is expected to enhance Matterport's financial operations and support its growth strategy as a public entity.
Matterport, Inc., a leader in spatial data technology, has announced its merger agreement with Gores Holdings VI (NASDAQ: GHVI, GHVIU). The company has been recognized among the Top 50 small/mid-sized companies by Comparably for its leadership, highlighting employee feedback collected over 12 months. Matterport aims to digitize every space on the planet, enhancing employee well-being through strong leadership and flexible work policies. This award reflects employee confidence in Matterport's future and its commitment to innovation and workplace culture.
Matterport, a leader in spatial data, has announced an expansion of its Capture Services On-Demand to 14 new U.S. cities. This expansion follows its recent launch in 12 cities, making the service available in a total of 26 cities nationwide. Matterport's service allows customers to easily schedule capture technicians to create 3D digital twins of various spaces. Digital twins enhance various industries by improving revenue and reducing management costs.
Matterport, Inc. announced a definitive agreement for a business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU). This partnership integrates Matterport's platform with PTC's Vuforia Engine and Studio, enhancing AR capabilities for digital twins. Customers can utilize interactive AR experiences in various industries, boosting efficiency and engagement. The collaboration aims to innovate across sectors, with Matterport serving a diverse clientele and expanding its market reach. Over 5 million spaces have been transformed using Matterport's platform, demonstrating significant adoption.
Gores Holdings VI (NASDAQ: GHVI, GHVIU, GHVIW) urges stockholders to vote for its proposed business combination with Matterport, Inc., a leader in spatial data technology, during a Special Meeting scheduled for July 20, 2021. The meeting will occur via live webcast, ensuring participation amid COVID-19 concerns. Gores has filed a Proxy Statement and registered with the SEC, emphasizing the importance of stockholder votes. The board recommends voting 'FOR' the merger and related proposals. Investors can access documents on the SEC's website.
Matterport, a leader in spatial data technology, has announced a collaboration with Facebook AI Research to release the Habitat-Matterport 3D Research Dataset (HM3D). This dataset, comprising 1,000 high-resolution 3D indoor space models, is aimed at advancing embodied AI research. Available for free and exclusively for academic use, HM3D will facilitate the training of robots and AI assistants to better navigate real-world environments. Matterport, through its digital twin technology, continues to redefine how various industries such as real estate and construction operate.
Gores Holdings VI (NASDAQ: GHVI, GHVIU, GHVIW) announced that the SEC has declared effective its registration statement for the proposed merger with Matterport, Inc., a spatial data company. Following the merger, the company aims to be listed on NASDAQ under the symbol 'MTTR' with an implied pro forma enterprise value of approximately $2.3 billion. The merger has received unanimous board approval and strong backing from existing Matterport shareholders, who are expected to hold 75% of the combined company's shares. A special meeting to vote on the merger is scheduled for July 20, 2021.
