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Sonder closes SPAC merger to go public
Reading Time: 2 minutesSonder has gone public via a business combination with special purpose acquisition company [SPAC] Gores Metropoulos II.
Sonder moves step closer to January SPAC merger
Reading Time: 2 minutesUS: Next-generation lodging company Sonder has moved a step closer to going public in January after a registration statement was filed in connection with the proposed business combination between Sonder and special purpose acquisition company [SPAC] Gores Metropoulos II. The amended registration statement was filed with the US Securities and Exchange Commission on 20 December […]
Sonder downgrades valuation expectations to $1.9bn for SPAC
Reading Time: 2 minutesUS: San Francisco-based short-term rental lodging startup Sonder is downgrading its valuation estimate from $2.2 billion to $1.925 billion ahead of its proposed merger deal with special purpose acquisition company [SPAC] Gores Metropoulos II due to a “strategic revision of the transaction terms”. Sonder, which announced in April that it was set to go to […]
Sonder adds to board of directors to prepare for public listing
Reading Time: 2 minutesUS: San Francisco-based next-generation lodging company Sonder has announced new appointments to its board of directors in preparation for its prospective public listing. Frits van Paasschen, current member of the board and former Starwood Hotels president and CEO, has been named lead independent director, having served on Sonder’s board since February 2020. Janice L. Sears, […]
Sonder reports record revenue for Q2
Reading Time: 3 minutesUS: Next-generation hospitality company Sonder has announced the strongest quarterly revenue in its history in financial results for the three months ending at 30 June 2021. The company claims that this has been driven by a “robust” recovery of leisure travel demand and the continued rapid expansion of its Live Unit portfolio. Sonder co-founder […]
Sonder to go public via SPAC merger worth $2.2bn
Reading Time: 3 minutesUS: Short-term lodging company Sonder has announced it has entered into a definitive agreement with special purpose acquisition company [SPAC] Gores Metropoulos II, sponsored by an affiliate of The Gores Group, to go public via a merger. The combined technology-driven hospitality company is expected to have a pro forma enterprise value of $2.2 billion and […]
Sonder rumoured to go public with $2.5bn valuation
Reading Time: 2 minutesUS: San Francisco-based unicorn Sonder is reportedly in talks to go public by merging with blank-cheque firm Gores Metropoulos II Inc. [also known as a special purpose acquisition company or SPAC], according to Bloomberg News. According to the report, the short-term lodging startup, which was last valued at around $1.3 billion following a bumper $170 […]
50 Urban Innovators changing the way we live- Part Two
Reading Time: 6 minutesWorldwide: In the lead up to URBAN LIVING FESTIVAL 2020: stay-live-work, taking place 25-26 November at Tobacco Dock in London, International Hospitality Media has created a list of 50 innovators who have changed urban life. These 50 have led some of the most dynamic, exciting and successful businesses in the UK and abroad, all of […]
Sonder in talks over $150-175m investment
Reading Time: 2 minutesUS: Short-term rental apartment operator Sonder is reportedly in discussions with prospective investors Fidelity and WestCap Group about raising funding for the company in the region of $150 million to $175 million. The hospitality unicorn, which signs multi-year leases in residential buildings and rents out units with hotel standard amenities for short-term stays, is believed […]
Sonder cuts workforce by one third
Reading Time: 2 minutesUS: San Francisco-based hospitality startup Sonder has announced it has laid off 22 per cent of its workforce and furloughed an additional 11 per cent of its staff as the reality of the coronavirus impact on the travel industry bites hard. According to The Information, those made redundant or furloughed accounts for up to 400 […]