Launched by Davidson and cofounder Lucas Pellan in 2012 as a way to rent vacant college apartments, Sonder's portfolio has grown to a massive size. Takeaway: Even with Sonder's phenomenal historical growth (and jaw-dropping estimated future growth), there will still be a LOTof room for even more growth in this core lodging market for many years to come. We think the current online players are overly focused on capturing agents fees.. It's a growing share for sure. Sonder also expects to have approximately $310 million in private investment in public equity (PIPe) proceeds, up to $450 million in cash in Gores Metropoulos II's trust account and $165 million of delayed draw notes to fund operations and support new and existing growth initiatives. Your submission has been received! However known and unknown risks and uncertainties may cause actual results to materially differ from what is expressed in such statements. For full disclosures, please go to our Terms & Conditions page. The company scored a valuation of $2.2 billion in the deal and expects to reap $650 million in the offering, Reuters reported. Obviously, tech and automation are part of why you have better profit margins compared to hotels. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. 2020, US$ 116.153 million Goldman Sachs & Co. LLC served as exclusive financial advisor to Sonder. Sonders common stock to commence trading on the Nasdaq under ticker SOND on January 19, Approximately $310 million PIPE capital from leading investors including affiliates of Gores Metropoulos II, Fidelity Management & Research LLC, funds and accounts managed by subsidiaries of BlackRock, Inc., Atreides Management, LP, and Senator Investment Group, Sonder to draw on $165 million in principal amount of Delayed Draw Notes following the closing of the business combination. We're a design company. The Gores Group The Gores Group See here for a complete list of exchanges and delays. Company Profile. Forward-looking statements include information concerning Gores Metropoulos IIs or Sonders possible or assumed future results of operations, business strategies, debt levels, competitive position, industry environment, potential growth opportunities and the effects of regulation, including whether this proposed Business Combination will generate returns for stockholders. Hypothetical strategies and indices presented are unmanaged, do not reflect any fees, expenses, transaction costs, commissions or taxes, and one cannot invest directly in any of these. Javascript is required for this site to display correctly. Thank you! Sonder reported $116 million in revenue last year, a 19% drop year-over-year. The content should not be considered investment advice and is for educational purposes only. 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. Investor Presentation Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Messrs. Gores and Metropoulos together have over 100 years of combined experience as entrepreneurs, operators and investors across diverse sectors including industrials, technology, media and entertainment, business services, healthcare and consumer products and services. The De-SPAC Index, which tracks 25 such companies, is down 28% in 2022. With property level profit margins going from (54%) in 2020 to 32% in 2025. Wilson Sonsini Goodrich & Rosati, P.C. In this space you will find all of our financial reports, presentations, webcasts and relevant video material.