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
The vacation home company hired the digital twin creator in a multiyear contract to help market its global portfolio of vacation homes under management
The feature is in beta mode and, upon formal rollout, will allow agents instant access to room dimensions and total square footage by room and floor, according to an announcement Tuesday
Matterport posted second-quarter revenues of $39.6M — a 39% increase from the same period a year earlier that squeaked past analyst estimates of $39.2M, according to a Tuesday earnings call
Matterport sets another benchmark for digitally immersive real estate marketing with creation of Genesis, which upon release, will allow users to quickly insert, move, edit and redesign interiors within created spaces
Much-needed changes were made. Customers were lumped into buying what seemed like random blocks of home scans with big gaps between the number of digital twins allowed
The company previously thought subscriber numbers would be flat in Q1, but ultimately they ended up jumping 37% year over year, according to a quarterly earnings call Tuesday
The program includes its most well-known home-tour product with dollhouse view, 25 or more high-end still photos, a static 2D floor plan and a 10-15 second preview reel
Matterport's latest camera will scan spaces up to 4 times faster compared to the Pro2, while increasing its range, with the ability to accurately capture rooms and features within 100 meters
Sketchfab lets users insert home furnishings, artwork, appliances and a host of other items into digital twins for use in staging and virtual home upgrades