By ET Bureau - May 21, 2021 3 Mins Read
Matterport, Inc., the leading spatial data company driving the digital transformation of the built world, today announced the appointment of Soohwan Kim as Vice President of Investor Relations to lead the company’s IR strategy and execution as it moves forward with its plans to become a publicly listed company.
In less than a decade, Matterport has grown to over 250,000 subscribers in over 150 countries, and recently accelerated past the milestone of more than 5 million digitized physical spaces managed on the Matterport platform.
In February, Matterport announced a proposed business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU, and GHVIW) (“Gores Holdings VI”), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC. Upon closing of the proposed transaction, the combined company intends to remain listed on NASDAQ under the ticker symbol “MTTR.”
Kim joins Matterport at a time of rapid growth that includes geographic expansion into Asia, as well as acceleration in the company’s target vertical markets. Founded in 2011, Matterport has defined the spatial data category for the built world with its market-leading spatial data platform that transforms any space into an accurate and immersive digital twin.
Hundreds of thousands of customers around the world have brought more than five million spaces online to date with the Matterport platform to more effectively access, manage and utilize them.
The company has extended its market reach beyond residential real estate to include multifamily and commercial real estate; architecture, engineering and construction (AEC); retail; insurance and restoration; travel and hospitality; and facilities management. Matterport primarily operates under a recurring revenue Software as a Service model, growing its subscriber base by more than 500% in 2020.
“With more than four billion buildings worldwide, the built world is the largest undisrupted market with less than one percent digitized. It’s worth an estimated $230 trillion – more than three times the estimated value of all global equities combined. Communicating how Matterport will capitalize on these opportunities clearly with our investment and analyst communities is key to our success,” said JD Fay, CFO of Matterport. “With his deep experience in both asset management and leading investor relations for public technology companies, Soohwan has the experience and expertise necessary to lead our investor relations function as we execute our growth strategy.”
“I am thrilled to join the Matterport team as we approach our listing day on Nasdaq,” said Kim. “I am particularly excited about Matterport’s undisputed leadership position with dominant market share, and our recurring revenue software subscription business model. I look forward to telling our story to the global investor base.”
Prior to Matterport, Kim led IR for NortonLifeLock, Inc. and Versum Materials, Inc. with both company stocks outperforming the S&P 500 Index during his tenure. He also held senior equity analyst positions at BNP Paribas Asset Management, Deutsche Asset Management, and AIG SunAmerica Asset Management. He holds the Chartered Financial Analyst (CFA) designation.
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