The content should not be considered investment advice and is for educational purposes only. served as legal advisor to Sonder. 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. 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. 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. 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. 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%. 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. When used in this press release, the words estimates, projected, expects, anticipates, forecasts, plans, intends, believes, seeks, may, will, should, future, propose and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. WebLatest Presentation For optimal viewing of the presentation, please open the PDF in a new window by clicking the Download PDF button below. SPAC Cash in Trust, US$ 450 million Launched in 2014 and headquartered in San Francisco, Sonder provides a variety of accommodation options from spacious rooms to fully-equipped suites and apartments found in over 35 markets spanning ten countries and three continents. 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). CEO Francis Davidson co-founded Sonder as a college student in Montreal in 2014. For more information, please visit www.gores.com. Over the course of their careers, Messrs. Gores and Metropoulos and their respective teams have invested in more than 180 portfolio companies through varying macroeconomic environments with a consistent, operationally-oriented investment strategy. Media Contacts 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. As previously announced on April 30, 2021, Sonder entered into an agreement to combine with GMII. Sonder. Last year, Sonder reached a valuation of $1.3 billion after a funding round. Sonder the lodging startup known for turning properties into short-term rental buildings is going public via a special acquisition company (SPAC), Gores Metropoulos II, that values the newly combined company at $2.2 billion, Sonder announced Friday.. SPACs can then merge with private companies, taking them public in the process. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement (as amended by that certain Amendment No. All pictures below are taken from Sonder's investor presentation, the entirety of which can be downloaded from Sonder's investor relations page. It's a really robust process to ensure that we're covered on the downside and that we only take on properties that are going to be really, really profitable and valued by our guests. Gores Metropoulos II, Inc. (Nasdaq: GMII, GMIIW, and GMIIU) is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, a global investment firm founded in 1987 by Alec Gores, and by an affiliate of Metropoulos & Co. whose Principals are Dean, Evan and Daren Metropoulos. Mr. Davidson will continue to serve as Co-Founder and CEO and Mr. Banker will continue to serve as President and CFO. 0001819395-23-000056.pdf. Founded in 2014, the Israel-based company has been in growth mode. 2021. Team: CEO Noam Ben-Zvi co-founded Placer with Zohar Bar-Yehuda, Oded Fossfeld, Ofir Lemel and Koby Ben-Zvi, Noams father. Seller Rollover Equity, US$ 2,177 million. Sonder confirmed Friday that it will go public by merging with a SPAC backed by billionaires Alec Gores and Dean Metropoulos. The SPAC that Sonder will merge with, Gores Metropoulos II, raised $450 million in its initial public offering in January. The Sonder app gives guests full control over their stay. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Gores Metropoulos IIs or Sonders managements control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. You can see their 2019 Series D investor pitch deck here. Get research, business strategy, and tech analysis delivered to your inbox, Peter Thiel on Identifying Disruptive Companies: 10x Better than Competitors. For more investment insights, sign up for our email list below and subscribe to our YouTube channel. Global Wealth Conferences - SWFI Event Series, Money Losing, Short Term Rental Platform Sonder Gets Saved by Gores SPAC. This interview has been edited for length and clarity. 2023. We bring beautiful spaces to life. The pandemic was a challenge for the entire hospitality world. Investor Presentation GAAP Revenue The company currently operates in 70 countries, and CEO Amiad Soto said the funding will go toward market and tech expansion. 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. Rental Startup Sonder Agrees to Go Public in $2.2B SPAC Merger However known and unknown risks and uncertainties may cause actual results to materially differ from what is expressed in such statements. Sonder continues to generate impressive results amid the ongoing recovery of the travel industry and is well positioned for future growth given their unique value proposition. It projected $4 billion in revenues in 2025, and profitability in 2023 when it forecast $24.2 million in EBITDA. 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. Porchs Matt Ehrlichmans total compensation was $16.8 million, with a base salary of $420,000. The results presented should not be viewed as indicative of the adviser skill and do not reflect the performance results that were achieved by any particular client. SEC Filings | Sonder Holdings Inc. Thank you! The company says it has 500 customers, including JLL, retail center operators Brixmor and Taubman, along with Planet Fitness and Dollar General. Media Contacts To learn more, visit www.sonder.com or follow Sonder on Facebook, Twitter or Instagram. The company will also have access to up to $450 million in cash through Gore Metropoulos IIs trust account. Investors should also understand that there is no guarantee that Volts investment strategies or decisions will prove to be profitable. OR It operates over 300 properties in 35 markets, with plans to invest in tech, expand Starting from right to left: Usually a lodging provider would need to make a trade-off in terms of these 3 dimensions of price, design, quality consistency. All Rights Reserved. Official notification to shareholders of matters to be brought to a vote ("Proxy") DEF 14A. Wilson Sonsini Goodrich & Rosati, P.C. For full disclosures, please go to our Terms & Conditions page. Corporate Demand Guided Expansion Strategy 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 During this period, the adviser was not providing advice using any models mentioned and clients results may have been materially different. 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. And it's typical for the landlord to fund it. Shares of Gores Metropoulos II rose 0.5% in afternoon trading on Friday. During this period, the adviser was not providing advice using any models mentioned and clients results may have been materially different. But even outside of the stay, Sonder leverages home-grown technology to optimize backend operations (e.g. Rental Startup Sonder Agrees to However, in October, the firm scaled down its valuation to $1.9 billion in light of market conditions. We're a design company. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. And Adj. The results presented should not be viewed as indicative of the adviser skill and do not reflect the performance results that were achieved by any particular client. It currently operates more than 300 properties in 35 markets. WebLaunched in 2014 and headquartered in San Francisco, Sonder provides a variety of accommodation options from spacious rooms to fully-equipped suites and apartments Also, Sonder has access to $220 million debt facility with existing PIPE investors, to be available following the closing of the merger, which Sonder says will be enough to fund its growth over the next several years. Web10.
sonder spac investor presentation