A Blank Check Company Offers To Merger With Sonder For $2.5B
After laying off more than 400 employees, about one-fifth of its staff, a year ago, quasi-hotel company Sonder not only survived the pandemic but is now being wooed to go public through a merger with a blank-check company.
Sonder, which signs master leases with landlords to turn units into short-term rentals, is in talks to merge with special purpose acquisition company Gores Metropoulos II Inc., a move that could value the combined entity at $2.5 billion, Bloomberg reported.
Sonder is the latest travel-related firm to get swept up in the special purpose acquisition company frenzy over the last year.
In a potentially much larger deal, one of travel and technology investor Brad Gerstner’s Altimeter Capital blank check companies is said to be in talks to merge with Singapore’s super-app, Grab, in a deal that could value the company at $40 billion, the Wall Street Journal reported last month.
