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My comment on my webpage (Japanese) with the google translation below:
Matterport management agrees to acquisition proposal of real estate search giant “CoStar inc.”
BY MEIDANSHA April 23, 2024 Virtual Tour Business, Matterport Walkthrough
Agreement for “Matterport” to be acquired by CoStar inc.
This post is not a special image or virtual tour introduction.
Here is some upcoming news about the company that uses the 3D generation software we use.
On April 22nd, Matterport's management announced that it would accept an acquisition proposal from another American company, CoStar inc., and announced that they had entered into an agreement to acquire the company.
Acquired at a premium of 220% of Matterport stock price
The stock price had been depressed for a long time before the acquisition was announced. The day before the announcement, the stock price was in the $1.70 range, which was a pitiful situation compared to February 2021, when it was in the $12 range at the time of the IPO.
Still, CoStar is being bought at a whopping 220% premium, offering $5.50 in cash and stock exchange.
The agreement is pending approval by Matterport's shareholder meeting and the US SEC, but given Matterport's recent stock price, I think it will probably be approved smoothly.
What is CoStar inc.?
CoStar is a company that operates an online market for real estate for sale, lease, and rental properties in the United States and Europe. Over the past 10 years, we have used Matterport to deliver 300,000 virtual tours. According to CoStar, statistics show that properties with Matterport virtual tours are viewed 20% longer than those without virtual tours.
This is why I want to buy Matterport even if I pay a high price.
Below is a portion of CoStar's press release from May 22, translated by Google.
“[b]CoStar Group operates the world's most effective and widely recognized real estate information solutions and online real estate marketplaces, including apartments.com, LoopNet, CoStar, and Homes.com, all powered by Matterport's 3D virtual CoStar Group was one of the first companies to adopt Matterport's technology, with approximately 300,000 CoStar digital twins currently available in CoStar's information products and online real estate marketplace. Advertisers on the Group Marketplace clearly see the value of Matterport virtual tours, with over 7.4 million views of Matterport 3D tours on Apartments.com in March 2024, when Matterport was available. CoStar Group similarly leverages Matterport on Homes.com to create the most comprehensive agent-, seller-, and buyer-friendly housing portal on the market. We plan to strengthen it further.”
In this way, virtual tours, not just Matterport, are considered an indispensable means of advertising for people who want to see buildings, and they even pay a premium for the major virtual tour software companies.
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Matterport: Utilize real estate marketing weapons from the United States in real estate sales in Japan!
By the way, before establishing Meidansha in February 2018, the founder started the business under his personal trade name "Virtual Real Estate." I have been using Matterport in Japan since 2018. We thought there was little demand for 3D virtual tours of real estate properties in Japan, so we changed the company name to ``Meidansha'' at the time of establishment, but we would like you to consider the weapons we offer to the real estate industry.
For real estate agents, 3D virtual tours have many benefits, such as saving time by viewing remote properties online, increasing the number of buyers by allowing more prospects to see the property, and increasing commission fees as a value-added service for sellers. Yes.
Please take a look at the web page below to learn more about how the much-talked-about virtual tour can contribute to your company's advertising strategy.
https://meidansha-co.com/home/services/matterport_3d_photographic_service/ |
