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 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
Former sales executive Vinatha Kutagula filed a lawsuit in California alleging 'she was pushed out of the company because she raised concerns about illegal and unethical practices'
Total revenue grew to $42.2M during Q2 2024, up from $39.6M the previous year, as the company worked to increase its market share
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
William Brown, who served as CEO of the company through 2018, is entitled to damages after Matterport prevented him from selling all of his shares when the company went public in 2021
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 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 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
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