What is Matterport?

What is Matterport?

Matterport is a leading spatial data company that specializes in creating 3D digital twins of physical spaces. Founded in 2011 and headquartered in Sunnyvale, California, Matterport offers a comprehensive 3D data platform that transforms buildings into immersive digital models. This technology is used across various industries including real estate, architecture, construction, insurance, and facilities management.

Matterport's platform supports a range of devices, including its proprietary Pro2 and Pro3 3D cameras, as well as 360 cameras and smartphone capture solutions. The company's services, such as Matterport Capture Services, enable users to create detailed, interactive 3D models for design, construction, marketing, and operational purposes.

Matterport has expanded its services globally and collaborates with major companies like Amazon Web Services and Redfin. The company's innovative approach to digitizing the built environment helps clients realize efficiencies in planning, construction, and management by providing accurate spatial data and virtual collaboration tools​.

Was Matterport Acquired?

Yes. On April 22, 2024, CoStar Group announced a definitive agreement to acquire Matterport in a cash-and-stock deal valued at approximately $1.6 billion. This acquisition aligns with both companies' missions to digitize the real estate industry. The deal is expected to enhance CoStar's capabilities in providing photorealistic virtual property tours and expand its digital property data portfolio. The acquisition is subject to regulatory approvals and is anticipated to be completed within the year​.

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