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Sonder Discovers Growth Comes at a Price as Losses Widen to $54 Million

Sonder has posted record revenue for its second quarter, and upped its full-year outlook, but losses widened by $8 million. ....

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Sonder Sees Its U.S. Short-Term Rental and Hotel Business Stabilizing

Sonder Sees Its U.S. Short-Term Rental and Hotel Business Stabilizing
skift.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from skift.com Daily Mail and Mail on Sunday newspapers.

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Sonder Holdings Inc. Reports Strong First Quarter 2021 Results Driven By Rapidly Increasing Travel Demand And Continued Operational Excellence

Sonder Holdings Inc. Reports Strong First Quarter 2021 Results Driven By Rapidly Increasing Travel Demand And Continued Operational Excellence
hospitalitynet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hospitalitynet.org Daily Mail and Mail on Sunday newspapers.

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Sonder to Go Public at $2.2 Billion Valuation as Short-Term Rental Sector Stays Hot

More travel executives get their mission-critical industry news from Skift than any other source on the planet.Tell me more
San Francisco’s Sonder has reached a merger agreement with Gores Metropoulos II Inc.
The company, which signs master leases with landlords to turn units into short-term rentals, announced the deal after speculation earlier this month.
Gores Metropoulos II Inc. was set up in December last year, and is a newly organized blank check company or special purpose acquisition corporations (SPACs) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. ....

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Sonder to go public on NASDAQ through SPAC deal

Sonder to go public on NASDAQ through SPAC deal
Montréal-founded travel tech startup Sonder is set to go public on the NASDAQ through a merger deal with Gores Metropoulos II Inc.
Sonder co-founder and CEO Francis Davidson officially announced the plans on Friday and SEC filings confirm that special purpose acquisition company Gores has entered into an agreement with Sonder.
“[This deal] will enable us to accelerate our growth on the path to build the iconic 21st century brand in hospitality.”
According to the companies, Sonder expects to raise $650 million USD of cash proceeds through the deal, which is expected to bring Sonder’s enterprise value to $2.2 billion. The value reportedly represents a 3.6 times increase in Sonder’s projected revenue for 2022. Existing Sonder stockholders are set to retain 74 percent ownership in the company. ....

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