Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Sonder. As a part of its push into the residential sector, CoStar recently acquired Homesnap for $250 million. Seller Rollover Equity, US$ 2,177 million. Additional risks and uncertainties are identified and discussed in Gores Metropoulos IIs reports filed with the SEC and available at the SECs website at www.sec.gov. The travel and hospitality industry has been hit hard by the ongoing pandemic, which has led many to cancel, postpone, or scale down their travel plans, impacting both traditional hotels and tech companies like Sonder and Airbnb. Forward-looking statements included in this document speak only as of the date of this document. Investing involves risk and possible loss of principal capital. The Gores Group The company scored a Gores is taking Sonder public. WebReports & Presentations. Sonders SPAC deal was first announced in April 2021. Why are landlords willing to fund that much capital expenditure? Sard Verbinnen & Co You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with real estate owners and developers, guests and suppliers and retain its management and key employees; (b) changes in applicable laws or regulations, including legal or regulatory developments (such as changes in local laws affecting hotels, apartments and other accommodation and regulatory developments related to special purpose acquisition companies); (c) the possibility that Sonder may be adversely affected by other economic, business and/or competitive factors; (d) risks related to the impact of the COVID-19 pandemic, including the Omicron and other variants and potential governmental and other restrictions (including travel restrictions) resulting therefrom; and (e) other risks and uncertainties described in the final proxy statement/prospectus/consent solicitation statement, including those under the heading Risk Factors therein, and other documents filed by the Company from time to time with the SEC. Morgan Stanley & Co. LLC is serving as lead financial advisor and Deutsche Bank Securities Inc. and Citigroup are serving as capital markets advisors to Gores Metropoulos II. We delivered record quarterly revenue in both Q2 and Q3 and we remain aggressively optimistic on the future of travel, said Francis Davidson, Co-Founder and Chief Executive Officer of Sonder. Two is that the vast majority of our travelers are domestic, not international. Weil, Gotshal & Manges LLP served as legal advisor to GM II. With this incremental investment, we will have ~$530M of capital at closing, in addition to up to $450M proceeds from the SPAC trust, which provides for a fully funded business plan upon closing, the SPAC said in a letter to Sonder team. 1)) and the proposed Business Combination contemplated thereby; (b) the inability to complete the proposed Business Combination due to the failure to obtain approval of the stockholders of Gores Metropoulos II or other conditions to closing in the Merger Agreement (as amended by Amendment No. Sonders common stock to commence trading on the Nasdaq under ticker SOND on January 19, Approximately $310 million PIPE capital from leading investors including affiliates of Gores Metropoulos II, Fidelity Management & Research LLC, funds and accounts managed by subsidiaries of BlackRock, Inc., Atreides Management, LP, and Senator Investment Group, Sonder to draw on $165 million in principal amount of Delayed Draw Notes following the closing of the business combination. Kelman stuck to his word and collected a salary of $63,609 (instead of $300,000). Sonder will receive approximately $110 million in additional capital from affiliates of Gores Metropoulos II and other leading investors, including Fidelity As a company that came to prominence with short-term rentals, can you tell me more about your hotel business? press@sonder.com We are happy to share any additional information with you on request. Below are the highlights from the presentation. Equipping the balance sheet with hundreds of millions of dollars through this transaction allows us to do that in a way that is super financially sound and finances a plan that can bring really rapid growth and investments in technology we think are really going to pay off big time. SAN FRANCISCO & LOS ANGELES-- ( BUSINESS WIRE )--Sonder Holdings Inc. (Sonder'' or the Company), a leading next-generation hospitality The combined company will operate as Sonder Holdings, while Sonders common stock and publicly traded warrants will trade on the Nasdaq Global Select Market today under the ticker symbols SOND and SONDW, respectively. Finsbury Glover Hering Forward-looking statements in this release include, but are not limited to, the closing of the drawdown on Sonders Delayed Draw Notes, the commencement of trading of Sonders common stock and publicly traded warrants on Nasdaq, Sonders beliefs regarding its current and future financial position, Sonders beliefs regarding its future financial and operating results and growth and the effect of the COVID-19 pandemic, its timing of recovery and the pandemics impact to Sonders business and financial position. There are a lot of organizations that put out forecasts, like Smith Travel Research and CBRE. Sonders common shares are currently trading on the Nasdaq under the symbol SOND, at a price of $8.61 USD. Revenue tripled, the company said. A trend that I've been watching the development of is the "digital nomad," where remote workers move between different cities instead of settling down in one location. Any and all subjective claims and statements made on this site regarding companies or securities are strictly the beliefs and views held by Volt and are in no way meant to be an endorsement by Volt of any company or security and nor is it meant to be a recommendation by Volt to buy, sell, or hold any security.Past performance is no guarantee of future returns. 2019, US$ 142.908 million The deal will give Sonder $650 million in cash to scale up. The company initially sought to raise $650 million USD in cash proceeds at an enterprise value of $2.2 billion. ir@sonder.com Special purpose acquisition companies are shells that raise funds through an IPO without underlying assets. RELATED: Sonder lowers valuation, expectations for SPAC deal amid market conditions. Media Contacts And Adj. Complete with self-service features, simple check-in and 24/7 on-the-ground support, amenities and services at Sonder are just a tap away, making a world of better stays open to all. WebReports & Presentations. Messrs. Gores and Metropoulos together have over 100 years of combined experience as entrepreneurs, operators and investors across diverse sectors including industrials, technology, media and entertainment, business services, healthcare and consumer products and services. Gores Metropoulos II was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Goldman Sachs is advising Sonder, and Morgan Stanley is the leading adviser to Gores Metropoulos II. Funding: Placer.ai, a location-data startup, raised $50 million from Josh Buckley, CEO of Product Hunt; angel investor Todd Goldberg and Rahul Vohra, CEO of Superhuman, an AI-focused email startup. Takeaway: Even with Sonder's phenomenal historical growth (and jaw-dropping estimated future growth), there will still be a LOTof room for even more growth in this core lodging market for many years to come. The now United States-based company has strong Canadian roots. The goal has always been to go public as part of the path of achieving our overall goal: the mission of the business. As part of the deal, Sonder will secure approximately $310 million USD in private investment in public equity (PIPE) capital and $165 million in delayed draw notes to support its new and existing growth initiatives. Our mission is really one of democratization here. This works really well for apartments, which is where we got started, but we realized that we could actually do this and operate hotels more effectively. Managing Director Investor Contacts Sonder, the hospitality technology company, announced on Friday that it plans to go public via a SPAC deal with Gores Metropoulos II, a blank-check company sponsored by the private-equity firm The Gores Group and the billionaire Dean Metropoulos. What are you expecting to see in hospitality this year? This kind of financial discipline, with a really rapid response to the pandemic, has meant that we've been able to outperform a lot of the competition and be in a relatively strong position. The idea of contactless service and skipping the front desk and going straight to your room are things that are now sought out by a larger share of consumers. WebLatest Presentation For optimal viewing of the presentation, please open the PDF in a new window by clicking the Download PDF button below. Last year, OpenSpaces maps more than came in handy. "I think you can view us as a next-generation Marriott," Davidson said, adding that Sonder partners with companies including Expedia Group Inc (EXPE.O), Airbnb Inc (ABNB.O) and Booking.com to reach out to customers. SAN FRANCISCO & LOS ANGELES--(BUSINESS WIRE)--Sonder Holdings Inc. (Sonder'' or the Company), a leading next-generation hospitality company that is redefining the guest experience through technology and design, today announced that it completed its previously announced business combination with Gores Metropoulos II, Inc. (Nasdaq: GMII, GMIIW, and GMIIU) (GM II), a special purpose acquisition company sponsored by affiliates of The Gores Group, LLC, and Metropoulos & Co. What we know is that we have a lot of favorable characteristics that would allow us to recover faster. Latham & Watkins LLP is serving as legal advisor to the co-placement agents. OR In the next three to five years, we expect to be truly global with presence in Latin America and the Asia-Pacific region., RELATED: All signs point to Montral as home of Sonders second headquarters. On the other side is our expansion into the hotel business. Last year, Sonder reached a valuation of $1.3 billion after a funding round. There might not be a better time, in the history of hospitality, to bring our revolutionary concept to the forefront. Weil, Gotshal & Manges LLP is serving as legal advisor to Gores Metropoulos II. And improving their Revenue per Available Room (RevPAR) from $74 to $165. Can you talk me through your decision to go public? Sonder is a travel tech and hospitality firm that competes with Airbnb, leasing and managing an array of short-term rental units across 10 countries and three continents. Sonder reported $116 million in revenue last year, a 19% drop year-over-year. is serving as legal advisor to Sonder. See here for a complete list of exchanges and delays. Two years later, the firm moved its headquarters to San Francisco and incorporated in the US, in pursuit of international investors. Volt does not purport to provide any legal, tax, or accounting advice. The SPAC that Sonder will merge with, Gores Metropoulos II, raised $450 million in its initial public offering in January. Existing Sonder stockholders will retain 74% ownership in the pro forma company. Hypothetical strategies and indices presented are unmanaged, do not reflect any fees, expenses, transaction costs, commissions or taxes, and one cannot invest directly in any of these. Hospitality - SPAC - Current. 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. We appear to be moving pastthe pandemic disruption. For full disclosures, please go to our Terms & Conditions page. In 2020, CoStars Andy Florance was compensated $21.3 million, according to the companys recently filed proxy statement. Peter Thiel on Identifying Disruptive Companies: 10x Better than Competitors. It claims the platform also placed $7.7 billion in title insurance and $1.4 billion in homeowners insurance. Sonder had to lay off or furlough one-third of its workforce last spring, while some of its highest-profile competitors were forced to shutter (Lyric) or pivot their business models after layoffs (Zeus Living). The past 2 years have been a hard journey for the hospitality industry and Sonder not only survivedthey thrived, said ScaleUP Ventures Partner Matt Roberts, an early investor in Sonder through both BDC and later, ScaleUP. Sonder began trading on the Nasdaq this morning, after completing its previously announced business combination with Gores Metropoulos II, a California-based special purpose acquisition company (SPAC). Additional information about the proposed Business Combination, including a copy of Amendment No. Plus, a startup that tracks our cell phones raised $50M. Instantly search thousands of Decks by world-leading companies on Slidebook SPAC December 2016 Despegar Mergers and Acquisitions Sonder Start Up January 2019 Related decks Tripadvisor Investor Moelis & Company LLC acted as additional financial advisor to GM II. So we think there's actually been a leapfrogging of behavior that maps really closely to the way that we've been operating our business. When the country went into lockdown last year, OpenSpace allowed construction bosses to monitor essential jobs remotely with its site-mapping tool. Managing Director Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Sonder. Gores Metropoulos II was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Launched in 2014, Davidson came up with the idea for Sonder while managing a few apartments for short-term stays as a university student in Montreal. We'll deliver the most current and interesting sovereign wealth and financial news straight to your inbox. Takeaway: Given industry multiples and Sonder's growth rate, Sonder's valuation seems like the deal of a lifetime. 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. It projected $4 billion in revenues in 2025, and profitability in 2023 when it forecast $24.2 million in EBITDA. Terms werent disclosed. John Christiansen/Cassandra Bujarski Another interesting observation is on consumer behavior. Your submission has been received! 2012-2023 BetaKit Incorporated. 2023. In the past year alone, weve launched in three additional countries and expanded our operations in dozens of other markets, and we expect to continue to scale our business and innovate to adapt to the needs of emerging traveler segments like digital nomads.. For more investment insights, sign up for our email list below and subscribe to our YouTube channel. We're not acquiring these assets, but we're running a process that's just as thorough. 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. Were excited to watch them continue to expand and reshape guest stays at a global level.. All quotes delayed a minimum of 15 minutes. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. From an overhead view, how has the pandemic changed things for the business? What it does: The five-year-old company uses cell phone data to track pedestrian foot traffic in order to give retail and office landlords feedback on how stores and assets are doing. On top of that, I think the benefit of our technology here is that it allows us to provide a really elevated stay at a much more affordable price point. 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. GoresGroup-SVC@sardverb.com, Internet Explorer presents a security risk. How? In this space you will find all of our financial reports, presentations, webcasts and relevant video material. However known and unknown risks and uncertainties may cause actual results to materially differ from what is expressed in such statements. In addition to the very compelling narrative and numbers presented in Sonder's investor presentation, Sonder's strategic advantage relative to both incumbents and potential new entrants makes us believe Sonder's stock has the ability generate over 1,000% return in the next 5 years. Sonder the lodging startup known for turning properties into short-term rental buildings is going public via a special acquisition company (SPAC), Gores 1 to Agreement and Plan of Merger, dated as of October 27, 2021, by and among Gores Metropoulos II, Sonder and the other parties to the Merger Agreement (such amendment, Amendment No. Leading up to Sonder's SPAC merger with Gores Metropoulos II, Sonder gave an investor presentation in November 2021 laying out the narrative and future of their company with amazing clarity and transparency. April 19, 2023. The deal would value Sonder at $2.2 billion, almost $1 billion more than its June valuation of $1.3 billion, and includes $650 million in total cash proceeds. Sonder's pre-SPAC merger investor presentation outlined the narrative and future of Sonder with surprising transparency. Goldman Sachs serves as the financial advisor to Sonder, while Morgan Stanley is the lead financial advisor to Gores Metropoulos. WebCombination with Gores Metropoulos II . Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. We are happy to share any additional information with you on request. Click here to join the thousands of knowledgeable readers who subscribe to Future City. Additional Information and Where to Find It. The Sonder app gives guests full control over their stay. 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. Cosmo Specialty Fibers Sonder Hospitality - SPAC - Current. Gores Metropoulos II, Inc. (Nasdaq: GMIIU, GMII and GMIIW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, a global investment firm founded in 1987 by Alec Gores, and by an affiliate of Dean Metropoulos of Metropoulos & Co., announced that they have entered into a definitive agreement to combine with Sonder. Sonder's TAM, the global lodging market, was $809B in 2019. Team: CEO Noam Ben-Zvi co-founded Placer with Zohar Bar-Yehuda, Oded Fossfeld, Ofir Lemel and Koby Ben-Zvi, Noams father. Let's find people who need to relocate. Except as required by law, neither Gores Metropoulos II nor Sonder undertakes any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this release. You can see their 2019 Series D investor pitch deck here. However known and unknown risks and uncertainties may cause actual results to materially differ from what is expressed in such statements. The new funding raised will help continue to focus on building the company and hopefully keep the economics in check enough to complete the deal. Wu only took $189,584, however, voluntarily donating the rest to a company relief fund for affected employees. We really skew toward Gen Z and millennials, where there's an expectation that these categories will come back.
sonder spac investor presentation