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Matterport, Inc. announced the appointment of Paul Thompson as Vice President of Solutions Engineering, leading a new global team to enhance its spatial data technology applications. Thompson, a veteran with over 20 years at Google, aims to boost customer engagement and foster a broader ecosystem for Matterport's digital twins. Recently, the company initiated its Platform Partner Program with over 50 partners already registered, expanding its SaaS model that saw a 500% subscriber growth from Q1 2020 to Q1 2021.
Matterport, a leader in spatial data technology, launched its Platform Partner Program on June 9, 2021, enabling businesses to create and monetize apps using its platform. Over 50 partners have already joined, enriching Matterport's ecosystem with various tools for industries using digital twins. The company is in a business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU), which will list as MTTR post-completion. The program promises significant benefits, including access to developer tools and support for partners to unlock new insights and capabilities.
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.
Matterport, a leader in spatial data, has entered a definitive merger agreement with Gores Holdings VI (NASDAQ: GHVI) to go public. The University of Wolverhampton's School of Architecture has adopted Matterport's technology to enhance its educational program, offering 3D visualizations of the new £45 million Springfield Campus. This integration provides students with immersive learning experiences and aids local businesses with efficient management and renovations. Matterport's technology supports heritage preservation and facilitates energy efficiency projects under the EnTRESS program.
Matterport, Inc. launched Capture Services On-Demand in twelve U.S. cities, allowing users to schedule trained technicians for 3D space digitization. Starting in June 2021, this service aims to democratize access to 3D scanning technology, providing fast and cost-effective solutions for individuals and businesses. Matterport has captured over five million spaces globally. The company has also agreed to merge with Gores Holdings VI (NASDAQ: GHVI, GHVIU), which will make it publicly traded under the ticker symbol MTTR.
Gores Holdings VI, Inc. (Nasdaq: GHVI) filed its Quarterly Report on Form 10-Q for Q1 2021 with the SEC on May 27, 2021. Prior to this filing, the Company received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to the late Form 10-Q submission. However, on June 1, 2021, Nasdaq confirmed that GHVI is now in compliance with the Rule. Gores Holdings VI aims to merge or acquire businesses that align with its management team's expertise.
Gores Holdings VI, Inc. (Nasdaq:GHVI) announced receipt of a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to a late filing of its 10-Q for Q1 2021. The notice does not affect trading but requires the company to submit a compliance plan by July 20, 2021. The delay stems from the SEC's new accounting rules affecting warrants, leading to a reevaluation of their treatment. The company aims to complete the 10-Q promptly to regain compliance by the extended deadline of November 15, 2021.
Matterport, Inc. reported impressive Q1 2021 results, with total revenue of $26.9 million, marking a 108% increase year over year. Subscriber revenue also saw an 84% rise, reaching $13.8 million. The company’s Annual Recurring Revenue (ARR) is $55.2 million, and it boasts 4.9 million Spaces Under Management, a growth of 88%. Subscriber count surged to 331,000, up 531% year over year. The company is on track for a merger with Gores Holdings VI, aimed at enhancing its global scale as a public entity.
On May 25, 2021, Matterport announced the appointment of Vivian Weiying Pan as Vice President of International Marketing, based in Singapore. She will lead marketing initiatives in the APAC and EMEA regions to accelerate growth. This follows Matterport's proposed business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU), which aims to enhance its market presence. Pan brings extensive experience from Fortune 500 companies, including Visa, where she was VP of Marketing for Southeast Asia. Matterport has a strong trajectory, growing its subscriber base over 500% in 2020.
