Question of the Day: Your thoughts about Matterport being acquired?19746
 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
 WGAN Question of the Day (All) Question of the Day: Your thoughts about Matterport being acquired? Hi All, The WGAN Forum Question of the Day for Monday, 22 April 2024: ✓ Matterport, the Global Leader in 3D Digital Twins, to be Acquired by CoStar Dan |
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MeshImages private msg quote post Address this user | |
| Quite a shock! We will see how this story will develop. I guess that Costar will be narrowing the development pipeline to real estate analytics. Not sure about all the SDK developments and the platform itself. Would you buy a Costar camera? |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| @MeshImages It doesn't surprise me that Matterport was acquired (because the market cap barely exceeded the amount of cash on Matterport's balance sheet. That said, I had expected Hexagon to acquire Matterport (as I wrote on 21 February 20222: ✓ Will Matterport be Acquired by Hexagon? Dan |
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 US Building Survey, LLC Olathe, Kansas |
rhelling private msg quote post Address this user | |
| Uneasy. Hoping that the AEC industry isn’t forgotten… |
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MeshImages private msg quote post Address this user | |
| 1st shock is gone! Actually it is good news, I think! Everybody knew, that Matterport will be acquired some day. Today is the day and now we know, what we are dealing with. CoStar is a very interesting company with business activities and subsidies in the Matterport core markets. CoStar - About us - Brands |
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Morristown, New Jersey |
foxwrth13 private msg quote post Address this user | |
| I think the MSPs who handle commercial spaces might not be so happy about this. | ||
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selder76 private msg quote post Address this user | |
| Maybe this will lead to MSPs actually being utilized? We signed up nearly a decade ago and have received ZERO official leads from the program. It's been a joke. Hopefully this injects some life into the company and gets everything rolling properly. | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
Quote:Originally Posted by foxwrth13 Perhaps CoStar has commercial real estate expansion plans? Seems like everything CoStar does can be replicated in commercial real estate? Quote: Originally Posted by @selder76 A few years ago, Matterport quietly exited the MSP program in favor of Matterport Capture Services On Demand. Additionally, Matterport acquired VHT Studios. I could imagine all leads going through these two initiatives. Also worth noting: "CoStar Group intends to support and invest in research and development opportunities to further develop Matterport’s spatial technology, including the application of AI and machine learning to extract information from the 3D spatial data library as well as using generative artificial intelligence to imagine and reimagine physical spaces,” said Andy Florance, Founder and CEO of CoStar Group in Matterport media release today (22 April 2024). Dan |
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 WGAN Standard Member Chicago |
DZeigler private msg quote post Address this user | |
| My concern is the markets outside of residential real restate. CoStar better keep it the same and open up more creative uses with Matterport. We all have to wait and see. |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
Quote:Originally Posted by DZeigler Yes. Matterport has marketed to many verticals outside of the sphere of CoStar. Also ... About ... Quote: Originally Posted by foxwrth13 "[CoStar company] LoopNet is the most heavily trafficked online commercial real estate marketplace with over twelve million monthly global unique visitors," says the Matterport media release today (22 April 2024). Dan |
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selder76 private msg quote post Address this user | |
I can't imagine CoStar is investing without the intention of expanding upon Matterport's IP. Everyone likes money  . Assuming we're already along for the ride as registered Matterport customers so I'm excited for the change. What if, GASP, they actually have live tech support?!?!? |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
Quote:Originally Posted by DZeigler "[CoStar company] Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids." says the Matterport media release. That said, there are other initiatives promoted by Matterport that are not part of CoStar's core offerings. Dan |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| From this WGAN Forum discussion: Quote: Originally Posted by @SecMapTec Quote: Originally Posted by @ron0987 |
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Morristown, New Jersey |
foxwrth13 private msg quote post Address this user | |
| I worry they will put together their own people for commercial and squeeze the independent guys out | ||
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daslack private msg quote post Address this user | |
| I am not sure what to make of this takeover of Matterport. Hopefully it will be a positive for the MSP, but time will tell. My greatest fear is that I have $10,000 worth of worthless Matterport camera equipment in my basement! Matterport to me is a company that has/had great potential but never seemed to manage it correctly or do right by its customers. I am glad, however, for the opportunity to unload my Matterport stock position this morning. It had been a non-performer until today. The silver lining. |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
Quote:Originally Posted by @SecMapTec |
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 WGAN FanClub Member Suisun City, California |
ScanYourSpace private msg quote post Address this user | |
| Hopefully this will mean that all those commercial agents posting 1 or 2 photos to show a listing on loopnet will realize that there are other options out there to market their listings and actually start incorporating matterport, floorplans, photos, etc. | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
Quote:Originally Posted by @ScanYourSpace Yes. I could imagine that CoreLogic will amp-up the interest in Matterport. Dan |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
Quote:Originally Posted by DZeigler Note which verticals are discussed in Matterport CEO and Chairman RJ Pittman's blog post today (22 April 2024): "We believe that by integrating the Matterport platform with CoStar Group’s properties, the future will become even brighter for our Digital Twin technology in Residential Real Estate, Commercial Real Estate, and Travel & Hospitality, bringing significantly more scale and reach to our customers. Another important aspect of this combination will be our ability to increase our investment in innovation and deliver new solutions and greater value for all of our customers." No mention of: AEC Insurance Claims Documentation Design and Construction Facilities Management That said, these could be subsets of: Residential Real Estate Commercial Real Estate Travel & Hospitality Dan |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| Hi All, ✓ List of CoStart Group Companies (for Context of Acquiring Matterport) Dan |
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selder76 private msg quote post Address this user | |
| The creation of more awareness of the tour can only help MSPs, regardless of what we are shooting. Squeezing us all out would take a MASSIVE sales force and they aren't going to invest that kind of money in equipment and training when they already have a group of trained professionals. My hope is that they elevate the MSP program and do right by existing customers FINALLY. | ||
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MeshImages private msg quote post Address this user | |
 Sometimes it's good to gain more insight when you turn the chessboard and put yourself in your opponent's shoes. What would you do if you were the CEO of Costar group? Not easy to answer. But one thing is clear to me. As a global data company I would never put my focus on competition with the people who feed my platform. Instead I would probably try to make these camera owners and SDK partners perform as successful as possible to attract more interest into my platform. And I will use this momentum (the acquisition of Matterport) to enhance my existing set of successful products with the cool new features that Matterport brings into the game. |
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dave3d private msg quote post Address this user | |
| As we are about 98.7% commercial it’s breath holding time | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| Video: Matterport ACQUIRED by CoStar Group! | Video courtesy of @Hopscotch YouTube Channel | 22 April 2024 | ||
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ZUANT 3D Sales Leads & Real-Time Insights United Kingdom |
samwoolford private msg quote post Address this user | |
| I think that only helps resonate my thoughts that Matterport is well clear of the competition in the market and if Matterport continue to push other verticals other than Real Estate it will be a success. I also have a feeling Matterport Partners will play a big part in the near future to help fuel this growth into other markets and elevate the brand! |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| Video: MAJOR News To Affect RE Services, in a GOOD way | Video courtesy of Nathan Cool Photo YouTube Channel | 25 April 2024 | ||
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WGAN Fan Club Member Suisun City, California |
ScanYourSpace private msg quote post Address this user | |
| let me summarize Nathan's video. Matterport is going down. don't use matterport. Independent photographers will take over. buy my books to learn how to take photos. ... the residential real estate photography market was down about 35% last year from the year prior. the commercial real estate photography market was up. there are many more use cases for Matterport tours aside from residential sales/marketing. Of the videos I've seen from Nathan he clearly loves doing 360 panos manually and using cloud pano however those aren't 3d virtual tours, they are 360 tours. zillow offers 360 tours. iguide offers 360 tours. matterport offers 3d virtual tours. who else is offering 3d? just my 2 cents. |
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Morristown, New Jersey |
foxwrth13 private msg quote post Address this user | |
| @ScanYourSpace I agree. I actually commented the following on his video Obviously not a Matterport fan, What you really don't touch upon is that Matterport is used for so many industries other than real estate. Also, with the uncertain future of buyer and seller agency relationships up in the air due to the court cases, Costar might be looking down the road. This industry is just getting started. It's clear the Matterport haters are coming out in full force on this one. I've seen worse posts |
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WGAN Fan Club Member Suisun City, California |
ScanYourSpace private msg quote post Address this user | |
| ...just to add.. Matterport is a data company, they aren't a camera company, they aren't a product company. they have products (Cameras) that they offer but at their core they are data. It makes sense for costar to buy them. Zillow or Realtor should have made an offer, imagine if Zillow bought matterport! | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| Video: What CoStar's Acquisition of Matterport Means for Real Estate Photographers | #mttr #csgp | Video courtesy of WGAN-TV YouTube Channel | 23 April 2024 WGAN Forum Podcast | Episode #286 Hi All, My thoughts ... ✓ What CoStar's Acquisition of Matterport Means for Real Estate Photographers Best Dan |
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