sonder spac investor presentation

Oops! Gores is taking Sonder public. April 30 (Reuters) - Lodging startup Sonder, which offers refurbished properties for short-term rentals, has agreed to go public through merging with a blank-check firm backed by billionaire investors Alec Gores and Dean Metropoulos that values the combined company at around $2.2 billion. Let's also plug in our technology and modernize this hotel so that the customer experience can be improved and the cost structure can go down.". In 2020, Sonder says they have 4,565 units. Takeaway: Sonder is expecting insane levels of growth, and despite being in a capital-intensive business, sees a rapid path to profitability. The Gores Group However known and unknown risks and uncertainties may cause actual results to materially differ from what is expressed in such statements. February 24, 2022 Updated: March 3, 2022 Leading up to Sonder's SPAC merger with Gores Metropoulos II, Sonder gave an investor presentation in November Morgan Stanley & Co. LLC served as lead financial advisor and Deutsche Bank Securities Inc. and Citigroup served as capital markets advisors to GM II. San Franciscos short-term rental startup Sonder has lowered its going-public-through-SPAC valuation down to $1.925 billion from the earlier planned $2.2 The proposed business combination remains on track to close in the second half of 2021, subject to approval by Gores Metropoulos IIs stockholders and other customary closing conditions. See here for a complete list of exchanges and delays. It's joining others in the real-estate tech world, such as WeWork, iBuyer Opendoor, and property-management technology company SmartRent. Corporate Demand Guided Expansion Strategy These forward-looking statements are based on Sonders managements current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. View. Special purpose acquisition companies are shells that raise funds through an IPO without underlying assets. Proptech was no exception, with 15 new SPACs in February followed by 16 in March and just one so far in April, according to TRDs SPAC tracker. Moelis & Company LLC acted as additional financial advisor to GM II. It's interesting to see how Sonder's narrative has evolved from when they raised their series D in 2019 to when they were targeted for a SPAC in 2021. Also, securities and options traded in over-the-counter markets may trade less frequently and in limited volumes and thus exhibit more volatility and liquidity risk.The content on this site is not intended to serve as financial advice nor should it be the sole basis for any investment decisions. Sonder reported $116 million in revenue last year, a 19% drop year-over-year. Many services like the front desk, concierge, customer service, cleaning are replaced with their app. SPACs can then merge with private companies, taking them public in the process. 2020, US$ 240.663 million (LOSS) You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. In response to evolving market dynamics, we are also amending the terms of our merger agreement, reflecting our commitment to driving long-term value creation, transparency and stockholder alignment in this high-performing and innovative business., We continue to see a rebound in leisure travel, and we are aggressively pursuing our expansion plans and capturing significant consumer demand. Morgan Stanley & Co. LLC is serving as lead financial advisor and Deutsche Bank Securities Inc. and Citigroup are serving as capital markets advisors to GM II. Sonder works directly with real estate developers and property owners to lease, manage and operate spaces, providing guests with exceptionally designed accommodations at affordable prices on a nightly, weekly or monthly basis. This document may contain a number of forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Overall, CoStar generated $458 million in first-quarter revenue, up 18 percent year over year. 0001819395-23-000056.pdf. Francis Davidson, Sonders co-founder and CEO, called the listing a historic moment for the company, adding that it is a testament to how weve revolutionized the hospitality industry by reimagining and delivering what the modern traveler demands.. 333-251663), which was declared effective by the SEC on January 19, 2021. We hire and we invest heavily into the communities in which we operate. The content and proprietary research found on this site, unless stated otherwise, has been entirely produced by Volt. Their view is that we'll see a full recovery of revenue per available room by 2023 or 2024, depending on the market. The SPACs investors include affiliates of Gores Metropoulos II, Fidelity Management & Research, funds and accounts managed by BlackRock Subsidiaries, Atreides Management, and Senator Investment Group. The company previously raised more than $560 million and is backed by investors Sonder the lodging startup known for turning properties into short-term rental buildings is going public via a special acquisition company (SPAC), Gores For more information, please visit www.gores.com. Porchs Matt Ehrlichmans total compensation was $16.8 million, with a base salary of $420,000. In this space you will find all of our financial reports, presentations, webcasts and relevant video material. Placer operates on a subscription model, and Ben-Zvi said it tripled its revenue in 2020 as customers sought data to guide decisions during the pandemic. There's nothing like it. Below are the highlights from the presentation. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Latham & Watkins LLP is serving as legal advisor to the co-placement agents. GoresGroup-SVC@sardverb.com, Internet Explorer presents a security risk. Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Citigroup, and Deutsche Bank Securities Inc. served as joint lead placement agents on the PIPE. 310-209-3010 In terms of real estate supply availability, Sonder has just scratched the surface with only 0.8% of new apartment units to be contracted in their current US markets, and only 1.8% of global hotel units to be contracted. The way Sonder achieves this is through cutting out the fat in the hospitality industry through technology. Sonders leases are also subject to early termination. In this space you will find all of our financial reports, presentations, webcasts and relevant video material. 310-209-3010 Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Gores Metropoulos II stockholders in connection with the proposed Business Combination and other matters to be voted upon at the Special Meeting will be set forth in the Registration Statement for the proposed Business Combination when available. Behind him was eXp World Holdings Glenn Sanford with $15.9 million and Zillows Rich Barton with $8.4 million. Content is subject to change without notice. This comes as the travel and short-term-rental industries are set to rebound after pandemic lows. For Sonder: All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Mitsubishi UFJ to sell SF office building at expected 80% discount, Miami luxury real estate agent pleads guilty in PPP fraud case, Sonder to open in Flatiron Hotel next month. The brand generates $10 million per quarter, CoStar said. All this allows them to cut down on operating costs by as much as ~50%. |, Sonder makes Nasdaq debut following close of SPAC deal, 0 replies on Sonder makes Nasdaq debut following close of SPAC deal, Support BetaKit and independent Canadian tech journalism, Sonder lowers valuation, expectations for SPAC deal amid market conditions, All signs point to Montral as home of Sonders second headquarters, Revisiting BlackBerrys extraordinary rise and spectacular fall, Banking apps Pillar and Billi shut down as funding dries up for FinTech businesses, As Bill C-11 passes, YouTube influencers, content creators express concern while Big Tech quiet. Volt does not purport to provide any legal, tax, or accounting advice. Javascript is required for this site to display correctly. The Registration Statement, including the proxy statement/consent solicitation statement/prospectus contained therein, when it is declared effective by the SEC, will contain important information about the proposed Business Combination and the other matters to be voted upon at a meeting of Gores Metropoulos IIs stockholders to be held to approve the proposed Business Combination and other matters (the Special Meeting) and is not intended to provide the basis for any investment decision or any other decision in respect of such matters.

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