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Matterport Acquires UK->Virtual Walkthrough2186

Queen_City_3D private msg quote post Address this user
Wonder if/how this will impact MSP's:

Matterport Acquires UK-based Virtual Walkthrough
Post 1 IP   flag post
Vizocube private msg quote post Address this user
It sounds like we should all combine forces and lists of clients to become We Get Around Inc. And have Matterport buy it at 50 times revenue
Post 2 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
@Vizocube

Please let me know when you are ready for loading dock instructions for the armored car to deliver the first $1 million in dollar bills.



Dan

P.S. Would be nice to hear from UK based / Europe-based Matterport Pros about this Matterport acquisition.
Post 3 IP   flag post
GarySnyder private msg quote post Address this user
Well that's just lovely not only did I help support MP by being the first person to purchase a camera in the UK as well as advertising for them with their logo on every job I shoot. Now they're so kind to open a their own service center and compete directly with me.

I would like to hear from others how they take to such kind business dealings. MP touts that they want to promote service providers like you and me. They have one hell of a way to show it. What possible point can MP hope to gain except to drive users like my self away from their technology since they're now a direct competitor.

That means that every job I have in (my.matterport)is an open invention for Virtual Walkthrough to go after my business. Everyone of use should now be aware that MP has no respect for us and they could become a competitor of yours as they have now become mine.
Post 4 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
@GarySnyder

I can not even imagine ....

We bought our first Matterport camera in July 2014. We started the Matterport User Group Forum 19 August 2014 and you were among our first Members.

(And, thank you for being a long-time Member of the We Get Around Referral Network.)

Yes. I would also like to hear from other UK and Europe based Matterport Pros about what this news today (14 July 2016) means to them.

Dan
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CarlosFHdz private msg quote post Address this user
It's time to rethink and change the business strategy going forward considering that they might do that in the largest market shares.

Also, I wonder how much of the data collected in their surveys and beta testing is now being used to strategize a takeover in markets and do what they've done in the UK.

just my 2 speculative cents
Post 6 IP   flag post
GarySnyder private msg quote post Address this user
Carlos, this is my main concern as MP now has an open book to all of our UK customers and what's to stop them from going after them. This is like Boeing going into the commercial airline business to compete with all other air carriers.
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jward private msg quote post Address this user
I was just thinking that about their surveys @carlosFHdz We are their Product Managers basically... We give feedback in hopes of improvements for us, the sole photographer/business owner, but they will use it for corporate purposes ie landing contracts with Redfin, RE/Max, KW, Century 21 etc. Look at their most recent job opportunity...

I wonder if MP had an interest in the purchase for the purpose of a tax haven.

As long as they are the sole processor of the camera data, we just have to suck it up and drive on.
Post 8 IP   flag post
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CarlosFHdz private msg quote post Address this user
You're right @jward , and from a business standpoint, it makes sense to own the whole chain from hardware production, software, servicing, and drivery to the customer.

I'm very curious to see how this is all gonna play out. Unfortunately we really don't have any control if we want to stay as MP providers. Hence, rethinking strategy and long term solutions to provide.
Post 9 IP   flag post
Vizocube private msg quote post Address this user
From comments above and please add to this your thoughts… Matterport needs to convert to some sort of Uber model. Waive monthly fees and come up with more compatible pricing for VR. Since they are becoming Start to End solution provider they can work on improving their Service Provider network establish some nationwide pricing parameters take their % and continue to grow and improve tech. As for us I guess we just continue our marketing efforts on their behalf.
Post 10 IP   flag post
suncoastskyview private msg quote post Address this user
What a totally rotten backstab to its loyal service partners who have invested several thousand dollars and countless hours in this technology.

I hope I'm over reacting but this could be the beginning of the end of our business as MP franchisees. Anyone want to buy a 20 lb paperweight?
Post 11 IP   flag post
suncoastskyview private msg quote post Address this user
SOURCE: Matterport
Matterport
July 14, 2016 11:00 ET

Matterport Acquires UK-based Virtual Walkthrough
Immersive Media and VR Pioneer Continues Global Expansion With Acquisition of Virtual Tour Technology Company
SUNNYVALE, CA--(Marketwired - July 14, 2016) - Leading immersive media company, Matterport®, today announced the acquisition of Virtual Walkthrough, a London-based company specializing in virtual tours for residential and commercial property.
"Virtual Walkthrough has a tremendous reputation in the UK and Europe, with notable real estate clients such as CBRE, Hammerson and Keller Williams and travel and hospitality clients such as Marriott and Intercontinental hotels. Virtual Walkthrough is a natural fit for Matterport, in terms of business focus, philosophy, and technology," said Bill Brown, CEO of Matterport. "Both companies share the same vision of enabling people to experience places as if they were there. We're excited to continue to expand our vision together, on a global scale, for more people and across more industries."
Launched in 2014, Virtual Walkthrough was established to revitalize the ways in which residential and commercial properties are marketed online, creating fully navigable 360° online virtual tours, virtual reality (VR), as well as RICS standard floor plans, photographs and videos. The company has since extended its focus to also include leisure and venue space projects, from hotels to exhibition spaces. The company serves all aspects of the UK property market, and has more than 200 clients, including Hammerson, Sellmyhome.co.uk, Standard Life and CBRE.
Virtual Walkthrough will be operated as a wholly-owned subsidiary, and will continue to service clients as usual, though the intention over time is for the Virtual Walkthrough platform to integrate Matterport's 3D technology as a replacement for its 360° tours, providing a superior experience for customers. Virtual Walkthrough will eventually sell the Matterport Pro Camera and Cloud Services and will serve as the European business development headquarters for Matterport.
"With Matterport's 3D solution, Virtual Walkthrough will be able to provide a more immersive /realistic experience to clients in the UK and Europe," said James Morris-Manuel, Co-founder and Chief Commercial Officer at Virtual Walkthrough. "Matterport's advanced technology, including a simple capture system, virtual reality support and more, will allow us to provide additional value to customers and to expand globally."
The acquisition comes on the heels of Matterport's recent international market entry into the United Kingdom, Canada and Australia in Q2 2016. Matterport has experienced strong international demand, and already has customers in over 50 countries. The acquisition positions the company to continue its international expansion.
About Matterport
Headquartered in Sunnyvale, CA, Matterport is an immersive media technology company that delivers an end-to-end system for creating, modifying, distributing, and navigating immersive 3D and virtual reality (VR) versions of real-world spaces on web and mobile devices. The Matterport Pro Camera and Cloud Services make it quick and easy to turn real-world places into immersive virtual experiences.
With the introduction of the Matterport 3D Showcase web player, Matterport has made it incredibly easy for anyone to move through virtual spaces as if they were there, from any desktop or mobile browser. With the addition of VR Showcase, users can now experience Matterport Spaces from a Samsung Gear VR headset or Google Cardboard (in "early-access", with additional device support coming soon.
To learn more, visit matterport.com.
FOLLOW US ON:
Twitter@Matterport
Facebook
LinkedIn

Contact Information
MEDIA CONTACT:
Tim Smith
415-350-3019
press@matterport.com

Post 12 IP   flag post
Vizocube private msg quote post Address this user
@suncoastskyview Tell me about it We purchased 8 cameras 2014-2015
Post 13 IP   flag post
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Property3dNZ private msg quote post Address this user
Its really interesting.... @GarySnyder We feel your pain! We were the first in New Zealand to purchase a camera and have worked really closely with MP - we tried to get the resale rights etc to be able to sell the cameras etc over here. We were offered that right however we were told that we needed to choose to either be a re seller of the cameras or a MSP - under no circumstances could we do both.... Even though we have effectively paved the way here in NZ - I'm the one that's worked with the agencies to make it accessible on the websites etc. Next thing we know its being announced that they have a new partner and re seller in Australia and from what we can gather they are doing both!! So frustrating!!
Post 14 IP   flag post
aerialpixels private msg quote post Address this user
@garysnyder

The press release states that VirtualWalkthrough is a well respected market leader yada yada... what do you feel on the ground in UK. Hype or truth?

I mean, following someones comment about Uber model, the real Uber model is the current one, where we the MSPs do the leg work, they earn from subscription and their tech.

When they get a actual shop like Virtual Walkthru, now they gotta consider marketing the service, more staff etc.

So business wise, I wonder what is on their mind. Is VW really rolling in the dough and making waves prior to its MP acquisition?
Post 15 IP   flag post
Paulterry private msg quote post Address this user
As a relatively new Matterport owner in the UK, based in the South West this doesn't really concern me. The technology is impressive and it's easy to sell this service. However as there is no licensing on numbers for this technology it's only a matter of time before the market is saturated with providers. It was the same with UAV (drone) operators here in the UK. It's down to each individual business to make sure that they can offer something better be it the services they provide or how they work with clients. It should definitely not come down to competing on price. If anything Matterport users should have an open book on pricing in each country to ensure if anything we raise the cost not lower it, retaining the value of the product and service.
3D tours are not our sole business they just sit along side our other services, aerial imaging, film, photography, web design and graphics.
Post 16 IP   flag post
GarySnyder private msg quote post Address this user
@aerialpixels

VW is a major player in a number of markets to include real estate both commercial and residential. They've been successful in capturing market share by offering a 360's stills and floor plans at an aggressive price. This may be the reason MP has acquired them as VT's have not taken off here in the UK as well as Europe since the commission rate is so low.

But VW game plan is not just the real estate market but to shoot VT's for every location. They use similar tech to Google BV but as they evolve their service to MP VT they're competing directly with every service provider. Only time will tell how they price their offerings. But no matter how you look at it this is unheard for a manufacture to compete directly with their customer base.

For all of you reading this there is nothing stopping VW from opening franchises in other parts of the world. They already have a presences in the States so it won't be long before some of you will be competing directly with MP/VW for business.
Post 17 IP   flag post
Expertise private msg quote post Address this user
The problem with Matterport seems to be that it is, BY DESIGN, so simple that a chimp can use it.

So, the only barrier to entry for competitors is having a credit card with $4500 in available credit.
Post 18 IP   flag post
360Verbeelding private msg quote post Address this user
It's all our own fault. We are sharing information over this forum. MP looks in from behind. They don't have to spend a dime for consumer information. They don't care how much we spent or try to build a proper business around a still not proper working system, and are asking a lot of money for services. The only thing MP wants is to sell as many as cameras as quick as possible. This because competition is catching up.

Within 6 months the system will be outdated. There wont be a update with the features we really want. There will pop up a new camera with all the improvements we are talking about. Then you have two choices, buy new camera or stay left behind.
But it's their business, and as far as it goes now MP makes a reasonable good product. With a limited lifespan.

The marked is changing rapidly, its hard to keep up, but very interesting. Don't pity yourself, or cry about the business you might lose. Its what you do with the things you come across.

Happy scanning
Grtz Rene.
Post 19 IP   flag post
Expertise private msg quote post Address this user
Oh, and btw...
Matterport is offering cameras for $3900 and interest free financing to REMAX brokers.
Post 20 IP   flag post
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RPOceanic private msg quote post Address this user
Any tech based endeavor is dynamic/rapidly changing but... as someone who took delivery of a camera just this week- I sincerely hope the shelf-life is at least a little bit greater than the scant 6 months that 360 Verbeelding suggests. That said- the foundation of any business can not reasonably expected to be built on a single gadget someone else has developed/sells/controls..... as business owners, we each are essentially selling our selves... much better to distinguish yourself there, to put faith/emphasis in your own drive, work ethic, accumulated knowledge/experience, dependability and above all, ability to anticipate, provide for/ adapt to client's needs. As someone juuuuuust getting started- it does feel a bit like trying to jump a speeding bullet-train.
Post 21 IP   flag post
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Metroplex360 private msg quote post Address this user
@GarySnyder As you probably know, the folks at Matterport are quite a nice lot. You might email them your concerns and ask them what they think. I work with a lot of apartment management companies and in also communicate regularly with their department that markets directly to them. I don't know what the solution is, but I'm sure that they want to support their MSPs and likely have had thoughts about people such as yourself.
Post 22 IP   flag post
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RobinLycka private msg quote post Address this user
I´ve always found it difficult to deal with companies that are sitting on both sides of the table. And as much as I think this aquisition will help open up the market, I also believe it will be priced by .... idiots .... that are too concerned with volumes than a viable business. I´ve seen a lot of that in the UK - "Our margins are very low, but we make it up in volumes" !?!?!?! It doesn´t even make sense.

Oh, and I agree @Metroplex360, they´re very nice people, but that doesn´t necessarily mean they understand the aspects of being a manufacturer, service-provider and retailer in a proprietary tech industry. I was approached to have one of our models included in the MP gallery, most people would probably be flattered. I don´t really have an ego in these situations, so I´m not flattered - here´s my reply after going back and forth a bit:

"Honestly though, I would suggest finding a way to remunerate the users that are in your gallery, after all it´s the production companies work that promote Matterports interests. The more our clients learn about Matterport, the more likely it is that they´ll buy a camera for them selves and ultimately that will cause my company to loose its business."

Didn´t hear anything back from them.

I´m going to keep hitting the UK market hard, but I don´t really see antyhing other than the technology making me loyal to Matterport.

Aaaaand I´m annoyed that it seems like their 360 stitching algorithm has deteriorated lately.

Slight rant over.
Post 23 IP   flag post
PieroBortolot private msg quote post Address this user
@3DscannUK Let us know when they will write back
Post 24 IP   flag post
suncoastskyview private msg quote post Address this user
Angry? Yes. This whole situation is disgusting.

They are competing with us now and even selling cameras to realtors for LE$$ than the price we were forced to pay.

MP: Have you ever heard the word LOYALTY? How about INTEGRITY? I guess not.
Post 25 IP   flag post
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RobinLycka private msg quote post Address this user
@PieroBortolot - I guess they weren´t too amused by the fact that I wasn´t honored to be selected for their Matterport Gallery. This was in early July and I haven´t heard back, which seems to be the ongoing trend from them. Their response rate is crap as long as it´s not in their favour to do so. At least from what I can gather from people that have tried contacting support etc.

I´m not going to throw more fuel on the fire though, I think MP does a lot of great work, but I do also believe that they should refine their business model in order to create loyalty from the service providers.
Post 26 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
Matterport sent this email to its customers today (Tuesday, 19 July 2016).

------

Dear Matterport Customer -

We wanted to share some recent news about an acquisition in the UK. Matterport has just completed the purchase of Virtual Walkthrough, a UK-based technology company focused on creating virtual tours for residential & commercial real estate and travel & hospitality.

We announced our entry into the UK market a few months ago, and a local presence helps us to better serve our UK and European prospects and customers. The Virtual Walkthrough team has significant experience in the “proptech” market (as they refer to it in the UK), enabling us to deliver enhanced levels of support for both existing and new customers in the region. These are top requests we've heard from our clients in the EMEA region, and we're thrilled to be able to respond to these in this way.

Virtual Walkthrough will continue to support their existing service offerings for current customers short-term, and begin transitioning to the local sale and in-market support of Matterport cameras and cloud services. By creating local market opportunities for both estate and letting agencies and independent Matterport Service Partners (MSPs) -- real estate photographers, floor plan providers and other property marketing service providers -- Virtual Walkthrough will make it more efficient for property agents to create their own Matterport 3D and VR Showcases and/or elect to be serviced by their preferred MSP vendors on a for-hire basis.

Matterport also intends to invest locally to increase awareness and adoption of the Matterport Pro Camera and Cloud Services across property portals, agents, and consumers, which we expect will increase demand for our Matterport Service Partners.

We are very excited about this new addition to the Matterport family and bringing more awareness to the European community.

If you have any questions, please contact us at our Support site.

Thanks!

The Matterport Team
Copyright © 2016 Matterport Inc., All rights reserved.
You're receiving this email as a Matterport customer.

Our mailing address is:
Matterport Inc.
352 East Java Drive
Sunnyvale, CA 94089
Post 27 IP   flag post
smcclell private msg quote post Address this user
So, do you think it would be MP that normalizes the cost of getting a scan done as it would be booked through them and they in turn hire a MSP?

Maybe not as I assume they just refer the work on in the current MSP way... anyone that has got a MSP referral comment on the process they got the work from MP?

I don't really see MSP's in the loop here as the property sellers would be getting in touch with the agencies for sure and they would not move on to a MSP if the agency has it in house or have someone that does it. So probably would be the same kind of work flow of being referred from the agency and not MP. (just thoughts out loud)

Gotta be good though for getting the tech awareness out there though and making it become a norm for advertising
Post 28 IP   flag post
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Metroplex360 private msg quote post Address this user
@suncoastskyview - You know ... if they really are offering price breaks on the equipment to Realtors, that's a little bit insulting. Now, I've certainly made my money back on my camera and I've enjoyed the high price of the Matterport 3D camera being a barrier to entering into the industry... so I cannot say that I feel that I want compensation ... just the fact that I've had my camera for a year and loved providing Matterport services for that time is enough compensation to a new deal that they may have struck.

Do you know anything more about these 'deals'? Is it a bulk deal that the broker is getting when ordering multiple cameras? I cannot imagine that Apartments.com and RedFin.com weren't offered deals as that's basic business.
Post 29 IP   flag post
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RobinLycka private msg quote post Address this user
Well, it´s good to know that they´re reading the forum

The newsmail does not change anything though, but I do agree to some extent that it will help with opening up the market.

If they offered a complete whitelabel self hosted solution with access to manipulating the content, access to 360´s and build our own front end interfaces (making tech-dev available to the users). Then... Then I would be perfectly fine with eveything. It would make the relationship like any other equipment provider.

I really don´t have any problems with Canon selling cameras to whoever they want. BUT - if Canon slapped a logo on eveything I do and made it mandatory to host my images on their server, I´d probably look for an alternative. (Cue Canon Nikon debate )
Post 30 IP   flag post
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