Virginia-based CoStar Group has completed its purchase of spatial mapping company Matterport. The companies expected to finish the deal by the end of March, putting them ahead of schedule
Total revenue was $169.7M, up 8% compared to a year earlier, boosted by its 1.2 million subscribers as the company bolstered its ongoing revenue streams
With its latest vertical marketing solution, Matterport CEO and Chairman RJ Pittman said the company is 'trying to move the whole world forward'
During the first 9 months of the year, Matterport pulled in a total of $125.8M in revenue. Most of that is from recurring services and subscriptions
The new camera system, Planix R1, is designed to be more physically and technically nimble when helping agents create digital twins, executives said Wednesday. And it’s more affordable, too
The release of a de-furnishing and automated listing description tools confirm the digital twin leader's effort to reach deeper into the middle of the market. Its Homes.com affiliation won't hurt
The deal will allow Matterport tours to accompany listing pages, with the dimensions and square footage of each property autofilled in a bid to reduce the risk of faulty data entry, executives say
The company's net loss was 36% less than in 2023, according to Matterport's earnings from the quarter. Revenue rose 5% for the quarter
The sale of the most popular digital twin creator should pump some much-needed adrenaline into the space, and the options are many
CoStar Group's revenue grew 12% year over year to $656M in Q1, according to earnings released Tuesday. CEO Andy Florance credited the change to Homes.com's traffic, subscription growth
Opinion
Homes.com's $2B investment in 3D tech indicates the ground assault has started, as it looks to absorb terabytes of property meta-data upstream into its products and marketing campaigns
Matterport's board of directors unanimously approved the deal, to be finalized later this year. CoStar purchased its outstanding stock for $5.50 per share, reflecting an equity value of $2.1B
The company said it has $230M in assets under management and has invested in industry-leading companies such as Compass, commercial property data company Crexi, and CASAFARI, a property search portal in Europe
The company said it expects to grow total revenue 19% to 22% this year as it continues its expansion as an industry leader
Known as Matterport Property Intelligence, the release contains features for labeling and dimensions, floor plans and fully detailed physical listing insights