Podcast #55 - Matterport deep dive

Matterport ($MTTR) is the world’s leading spatial data company specializing in digitizing physical spaces. They make it easy to create digital models of the real world and to share those spaces anywhere.

• Virtual tours of homes are common on sites such as Zillow and Airbnb, but Matterport are also seeing increased take-up for use cases such as remote insurance assessments, warehouse and factory monitoring and optimization, virtual tourism, and construction
• Founded in 2011, and SPAC’d in July 2021, currently trades at a market cap of $4.3B. Has over $600M cash. Not currently profitable and made a loss of $11.6M in 2020
• 52% of $29M Q2 revenues were from subscriptions - a SaaS-like high-margin business that is the main growth driver
• The company estimates a TAM of $240B. The justification for this is flimsy, but there is significant optionality, with many yet to be identified use cases as the ‘metaverse’ becomes more established. If Matterport become the standard for spatial data capture, this estimate may in fact prove to be conservative
• Working with over 50 platform partners to build solutions on top of Matterport spatial data, expanding their use cases beyond real estate into automation, construction, retail and other industries

The following companies are mentioned in this episode: MTTR, ZG, ABNB, FB

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