Trust Size
$295M
Peak Price
$37.60
Current Price
$5.50
Return
-85.0%
Peak Market Cap
$8.5B
What Happened
3D spatial mapping company promised to digitize every building on Earth. Alec Gores SPAC #6 took it public. Stock crashed 85% as the metaverse hype faded and enterprise adoption stalled.
Matterport merged with Gores Holdings VI in July 2021, riding the wave of metaverse/digital twin hype. The company makes 3D cameras and software to create virtual walkthroughs of buildings. It hit $37 during peak metaverse mania but the addressable market was far smaller than projected. Revenue grew slowly, losses mounted, and the metaverse narrative collapsed. CoStar Group acquired Matterport for $5.50/share in 2024 — a fraction of its peak.
Projections vs. Reality
Projected Revenue
$500M
What they told investors
Actual Revenue
$163M
What actually happened
Hype-to-Reality Ratio: 33.0x
Key People
RJ Pittman
CEO
Ex-Apple exec, joined in 2020
Alec Gores
SPAC Sponsor
Serial SPAC sponsor, 6+ SPACs
Timeline
2021-02
SPAC merger announced
2021-07
Merger completed
2021-11
Stock peaks at $37.60
2023-06
Stock below $3
2024-04
CoStar acquires for $5.50/share
📄 SEC Filings
View all EDGAR filings for Matterport
Risk Scores
Dilution Score
68/100
Insider Profit Index
58/100
Hype-to-Reality Ratio
33.0x
Projected ÷ actual revenue