Costar's acquisition of Matterport
Costar CEO said they acquired Matterport because of it's extensive digital library and how Matterport is going to revolutionize digital walkthroughs. I think the hype that Matterport is going to revolutionize digital walkthroughs has died as evidenced in their stock price going from almost $30 two years ago to the $1 range recently before Costar announced their acquisition. In my opinion Matterport never achieved critical mass due to cost barriers.
Does anyone understand how Costar arrived at a buyout offer of 3x Matterport's stock price? Matterport was losing money every quarter so it seemed like Costar paid a big price.
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