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sonder spac investor presentation

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All Rights Reserved. Sonder will receive approximately $110 million in additional capital from affiliates of Gores Metropoulos II and other leading investors, including Fidelity Management & Research LLC, funds and accounts managed by BlackRock, Atreides Management, LP, and Senator Investment Group (the New PIPEs), in addition to the $200 million previously announced PIPE (the Existing PIPE). We're talking about a cost structure that's roughly, on an operating-cost basis, up to 50% lower than traditional. His coverage is more complete than his moustache. The Sonder app gives guests full control over their stay. None of Volts proprietary content may be reproduced or referenced, in full or in part, in any other publication without the expressed written consent of Volt. Get research, business strategy, and tech analysis delivered to your inbox, Peter Thiel on Identifying Disruptive Companies: 10x Better than Competitors. Gores Group, a prolific dealmaker in the space, has raised 13 special purpose acquisition companies (SPACs) so far. We've always built a really financially diligent company, but we took this to the next level. Existing Sonder stockholders will retain 74% ownership in the pro forma company. Two is that the vast majority of our travelers are domestic, not international. GAAP Revenue These amendments and associated incremental investments by leading institutional investors to adapt to current market conditions strongly position Sonder for long-term growth, and underscore Sonders and Gores Metropoulos IIs collective commitment to driving long-term value creation for all stockholders. The company initially sought to raise $650 million USD in cash proceeds at an enterprise value of $2.2 billion. There's no Sonder city where there's no Sonder employees, so we do provide meaningful employment. During this period, the adviser was not providing advice using any models mentioned and clients results may have been materially different. Behind him was eXp World Holdings Glenn Sanford with $15.9 million and Zillows Rich Barton with $8.4 million. The balance of the $450 million in cash is held in GM IIs trust account, in addition to $165 million raised as part of a March 2021 convertible notes offering led by Moore Strategic Ventures, the privately held investment company for Louis M. Bacon, Founder and CEO of Moore Capital Management, LP, together with the approximately $200 million in PIPE proceeds, excluding transaction expenses, will be used to fund operations and support new and existing growth initiatives. However known and unknown risks and uncertainties may cause actual results to materially differ from what is expressed in such statements. It's like a hybrid of Airbnb and Hilton, turning apartments into hotel suites. 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. Thank you! Gores Metropoulos II stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of Gores Metropoulos II in Gores Metropoulos IIs registration statement on Form S-1 (File No. Thats relatively flat year over year and up $36 million from Q4 2020. The Web10. Access exclusive travel research, data insights, and surveys. According to Sonders calculations, the company would need to have 34,889 live units with to have a positive adjusted EBITDA of US$ 24,201,000. Driven in part by increasing supply from 12k total units (live + contracted) in 2020 to 102k total units in 2025. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading.While an option overlay is intended to improve performance, there is no guarantee that it will do so. Media Contacts 2019, US$ 142.908 million These margins being driven by post-COVID recovery, better lease agreements, and RevPAR and Property Level Cost initiatives. Amid a rebound in leisure travel demand, Sonder reported record quarterly revenue and year-over-year (YoY) growth in the third quarter of 2021, with revenue of $67.5 milliona 155 percent YoY increase, and a 43 percent increase compared to Q2 of last year. jchou@gores.com, John Christiansen/Cassandra Bujarski/Kate Gorgi Unless otherwise noted, any performance returns presented in these materials reflect hypothetical performance. Earlier this month, the firm said it would buy Homes.com for $156 million. San Francisco-based Sonder Holdings Inc. (Sonder) officially launched in 2014 and was co-founded by Francis Davidson, Chief Executive Officer, and Martin Picard, Global Head of Real Estate. Sonder revenues are rising while its losses are widening, even as SPAC deals are coming under additional pressure. All quotes delayed a minimum of 15 minutes. Josh Scott is a BetaKit reporter focused on breaking news and telling in-depth Canadian tech stories. GoresGroup-SVC@sardverb.com, Internet Explorer presents a security risk. Latham & Watkins LLP is serving as legal advisor to the co-placement agents. WebReports & Presentations. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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 Were thrilled to have a committed and creative partner in Gores and the amendments, and incremental investment announced today will allow us to pursue our ambitious growth and expansion strategy in full force. Additional risks and uncertainties are identified and discussed in Sonders reports filed and to be filed with the SEC and available at the SECs website at www.sec.gov. 0001819395-23-000056.pdf. In 2020, Sonder had 5,000 units (with contracts for another 7,000). Sanford also took a smaller salary $656,480 instead of $1.5 million. real estate targeting, warehouse and inventory management, logistics planning, etc.). 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. The pandemic was such a black-swan event that now we are even more robust when it comes to down-side investment. The content should not be considered investment advice and is for educational purposes only. WebLatest Presentation For optimal viewing of the presentation, please open the PDF in a new window by clicking the Download PDF button below. It operates over 300 properties in 35 markets, with plans to invest in tech, expand to news regions, and sign more properties. Revenue tripled, the company said. The father and son were also co-founders of BlueTail, a social media marketing startup acquired by Salesforce in 2012. We reported company-record quarterly revenue in Q2 and are eager to pursue continued growth, said Francis Davidson, Co-Founder and CEO of Sonder. Sonders SPAC deal was first announced in April 2021. Plus, can SPAC investors take advantage of the big moves that are hidden in SPACs with announced deals? After a record 109 SPAC deals in March, the market cooled with just 10 deals in April, according to SPAC Research. We strongly believe that Sonder is the hospitality brand of tomorrow and have high conviction that the company will continue to grow, which is why we are increasing our initial investment, said Alec Gores, Chairman and CEO of The Gores Group and CEO of Gores Metropoulos II. Latham & Watkins LLP is serving as legal advisor to the co-placement agents. Gores Metropoulos II raised $450 million in a January IPO, and raised an additional $200 million from PIPE investors, including BlackRock, Fidelity and Senator Investment Group. 333-251663), which was declared effective by the SEC on January 19, 2021. In this space you will find all of our financial reports, presentations, webcasts and relevant video material. Sonders SPAC deal was first announced in April 2021. That said there are some positives in the newly restructured deal between the two parties: Sonder will get an $110 million in additional capital from affiliates of Gores Metropoulos II and other leading investors, including Fidelity Management and others, in addition to the $200 million previously announced PIPE. Wilson Sonsini Goodrich & Rosati is serving as legal advisor to Sonder. For full disclosures, please go to our Terms & Conditions page. With the Gores team and with our business combination completed, Sonder now has a very strong balance sheet to aggressively pursue our ambitious growth strategy, said Banker. Sonder reported $116 million in revenue last year, a 19% drop year-over-year. Although the travel sector still faces strong headwinds due to COVID-19, Davidson said the company remains aggressively optimistic on the future of travel, citing Sonders record Q2 and Q3 2021 performance as evidence of the resiliency of its business. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Last year, Sonder reached a valuation of $1.3 billion after a funding round. In connection with the proposed Business Combination, Gores Metropoulos II has filed a registration statement on Form S-4 (the Registration Statement) that includes a preliminary proxy statement, consent solicitation statement and prospectus with respect to Gores Metropoulos IIs securities to be issued in connection with the proposed Business Combination that also constitutes a preliminary prospectus of Gores Metropoulos II and will mail a definitive proxy statement/consent solicitation statement/prospectus and other relevant documents to its stockholders. 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. 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.. 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. These two things have meant that we've gone from funding 84% of the capital expenditure of the deals we did in 2019 to now funding 10%. SPACs can then merge with private companies, taking them public in the process. Investors should be aware of the inherent risks involved in investing in the markets and that past performance is not an indication of future results. With a differentiated, tech-driven platform and unique value proposition, were confident that becoming a public company will enable Sonder to solidify its leading position as the hospitality brand of tomorrow., Justin Wilson, Senior Managing Director at The Gores Group, added, "Sonder is a true disruptor in the travel space, with a proven ability to execute and deliver despite a very challenging period for the hospitality industry as a whole. 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. The content should not be considered investment advice and is for educational purposes only. Sonders leases are also subject to early termination. 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. The opportunity in residential is so large and our assets have so much potential, CEO Andy Florance said during an earnings call. Sonder announced that it's going public via a SPAC deal that values the company at $2.2 billion. The two clear takeaways are: (1) travel is rebounding and (2) Gores and Metropoulos arent worried about the impending regulatory crackdown on SPACs. This press release contains a number of forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. In the markets that we're in we're talking about substantial investments into those local economies either through our partners or with the employees that we have on the ground. "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.

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