Sonder Lowers Valuation to $1.9 Billion as Market Conditions Change; Raises More Money
Photo Credit: sonder short term rental hotel source sonder Sonder
Skift Take
Sonder revenues are rising while its losses are widening, even as SPAC deals are coming under additional pressure. The new funding raised will help continue to focus on building the company and hopefully keep the economics in check enough to complete the deal.
San Francisco’s short-term rental startup Sonder has lowered its going-public-through-SPAC valuation down to $1.925 billion from the earlier planned $2.2 billion, as market conditions change and SPACs face more headwind.
It has also pushed back the completion of its reverse merger deal with Gores Metropoulos II, the black check company backed by the Gores Group that is taking it public, from the earlier anticipated close October
