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was this a case where a 1bil valuation in 2020 was increased because of covid (people wanted hotels that didn't require any human interaction) OR they were valu
by parpfish 11mo ago
was this a case where a 1bil valuation in 2020 was increased because of covid (people wanted hotels that didn't require any human interaction) OR they were valued at 1bil pre-covid and covid killed their momentum when travel stopped?
- projektfu 11mo agoThey IPO'd in 2021 and were worth about 22 billion until Jan 2022. Then a precipitous fall to about 2.2 billion in 2023, 220 million in 2024, and now 22 million.
- gruez 11mo ago>They IPO'd in 2021 and were worth about 22 billion until Jan 2022 No, they IPOed via a merger with SPAC in January 2022, and almost immediately the price of the company took a dip. 2021 was probably when the SPAC was founded/IPOed, and the relatively flat price prior to 2022 was because it was basically a pot of money. https://en.wikipedia.org/wiki/Sonder_(company)#History https://en.wikipedia.org/wiki/Sonder_(company)#History
- projektfu 11mo agoAh, makes sense. But then the nearly geometric decline began.