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WGAN-TV Live at 5
Matterport Chief Marketing Officer Chris Bell
on How Matterport will Scale Exponentially
WGAN-TV: Coming Up
Live at 5
5 pm EDT (GMT -5)
12-16 August 2019
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Chris BellMarketingWGAN TV

WGAN-TV: Matterport CMO Chris Bell->How Matterport will Scale Exponentially9718

WGAN
Founder
DanSmigrod private msg quote post Address this user



Hi All,

Find out how Matterport plans to scale exponentially - and why that 'matters' to you - from Matterport Chief Marketing Officer Chris Bell on WGAN-TV Live at 5 (5 pm EDT | GMT -5) on Thursday, 11 July 2019.

Among my questions for Chris, how Matterport plans to grow exponentially powered by:

✓ People, process, technology, vertical and geography expansion
✓ Will there be a Pro3 camera?
✓ How will Matterport Service Providers benefit from this growth?
✓ What about Matterport Scanning Services?
✓ How does international figure into growth?

After an hour, it's your turn to ask Chris questions directly.

Two Easy Steps to Join the Show Live

1. Now: Download the Zoom Cloud Meetings app (Mac, Windows, iOS, Android)
2. When the show is live, Click Here (Automatically Launches the Zoom Meetings app and you will be in the WGAN-TV Virtual Green Room. I will bring you on the show when we begin Q&A with the WGAN Community)

“The Matterport Cloud is an unrivaled dataset of precision 3D environments that represents an enormous opportunity to scale the company’s data services business exponentially. This will open up new strategic partnerships and investments as we realize the full value of this data for a rapidly expanding set of market opportunities around the globe,” said Matterport CEO RJ Pittman in the Matterport Press Release on 3 December 2018 announcing RJ joining Matterport.

I have written about exponential growth coming to Matterport for five years now. (So, I may not be the best at predicting when.)

Matterport + Meero + VRBO/HomeAway = Exponential Growth
10 Reasons Matterport will acquire GeoCV
Imagine one company ordering 20,000+ Matterport 3D Tours
Matterport + All 360º Cameras = Exponential Growth (for all of us)
Matterport Exponential Growth powered by It's APIs/SDKs
Exponential Growth Coming Soon to Matterport
Matterport Cloud to Support Other Cameras?
Matterport and Leica partnering in 2018
Ashton Kutcher/News Corp/CBRE invest in Matterport
Sweet Deal: Matterport Equity for Influence
Matterport Syndication: a Blessing or Curse?
Matterport Announces Massive Chinese Partner
Preparing Matterport for IPO or Acquisition

How to Watch WGAN-TV Live at 5 (Three Options)

1. Use the link: www.WGAN-TV.com (See bottom right for the pop-up player for WGAN-TV Live at 5)
2. Watch on our YouTube Channel (Tip: To get a reminder: SUBSCRIBE and Click on the Bell
3. We'll record the show and add the episode to our WGAN-TV Podcast in the Apple iTunes Podcasts App and post to this WGAN Forum discussion. (Within a week of broadcast, you will be able to watch this WGAN-TV episode on Roku TV and Amazon Fire TV.)

Special thanks to @Jwbuckl for arranging for this interview.

Best,

Dan
Post 1 IP   flag post
MeshImages private msg quote post Address this user
Hi Dan, is there an iCal calendar note for this event? And if yes, where can I find it?

I am just thinking, what time is 5 PM EDT in CET (central european time)?
Post 2 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
@MeshImages

Yes! Add to My Calendar (Time/Day displayed ins your local time.)

(The Add to My Calendar email confirmation also includes a link to Join the Virtual Studio Audience so that you can ask questions live.)

Best,

Dan
Post 3 IP   flag post
MeshImages private msg quote post Address this user
Thanks! 👍
Post 4 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
Hi All,

Please give some thought to what questions you want to ask Matterport CMO Chris Bell on how Matterport will scale exponentially (and what that means for you)...

Thanks,

Dan
Post 5 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
Hi All,

You can add to your calendar to - watch or to join the show and ask questions ...

Add to My Calendar (Time/Day displayed ins your local time.)

(The Add to My Calendar email confirmation also includes a link to Join the Virtual Studio Audience so that you can ask questions live.)

Best,

Dan
Post 6 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
Hi All,

Thanks for planning to tune in - or to join the show - to ask your questions directly of Chris.

Best,

Dan
Post 7 IP   flag post
Basic
Member
Garnetwest private msg quote post Address this user
Hello Dan - I'm here in Atlanta, Ga and I'm very interested in starting a 3D photography business (based in large part) around the Matterport camera/software technology. I have been following the brand for about a year now and I was actually a few clicks away from hitting the purchase button when I stumbled upon some negative feedback regarding the new pricing and partnership strategy and the alienation of early adopters (the folks that plunked down $5k for a camera) of the Matterport technology. That said, my questions for Chris are as follows:

1) Does Matterport have a mid/long-term strategy that it can articulate to support "Matterport Service Providers"?

2) What is the reason/strategy for allowing manufacturers of sub-$500 360-camera equipment to have access to the highly regarded Matterport platform, and does such access devalue the camera equipment that Matterport currently sells?

3) The Matterport Pro 2 Lite recently dropped about $250 in price in the span of about 2 weeks. Why is this? And should we expect similar price reductions in the standard Pro 2 in coming weeks/months.

4) What will it take to get a Zillow deal in place? I heard the recent interview with WGAN and the Zillow team and the fact that they seem to be comfortable moving forward with another camera platform is bit disheartening. How does Matterport "the industry leader", not have a deal in place with one of the largest residential real estate sites in the country?

5) Technology moves fast and I would hate to see Matterport go down the way that Blockbuster did with the rise of Netflix. Innovation is key, as is being competitively priced. Its hard to justify the purchase of a $3k+ camera when Matterport's own website is giving credence to somewhat less-capable, yet pretty damn good alternatives cameras which are available at a fraction of the cost. What is the plan to innovate and develop the next generation of 3D cameras to stay ahead of the competition?

Dan, I'm waiting for tomorrow's show to see what Chris has to say. If the plan sounds good, I'll purchase the camera while you're live on the air in a show of support. Let me know if you need me...I'll be tuned in!

Garnet Morris
Post 8 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
@Garnetwest

Thank you for your thoughtful questions.

Can you join the show today (Thursday, 11 July 2019) at 5 pm EDT and ask Chris your questions?

It would be great to hear the discussion between you – a potential Matterport Pro2 3D Camera buyer / MSP - and the Chief Marketing Officer of Matterport.

If you are on the fence - there are likely to be others like you - that would love to hear your questions / Chris answers.

Okay?

Best,

Dan

P.S. In the WGAN-TV Popup in the bottom right, simply select Add to My Calendar and you will receive a link to join the show live. Okay?
Post 9 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user



Add to My Calendar
Post 10 IP   flag post
Standard
Member
Home3D private msg quote post Address this user
Hi Dan,
I'd love if you led off this presentation asking Chris Bell to give us an update on the repeatedly asked question during his last appearance on WGAN-TV. "What about offering legacy MSP's the option, for a set period of time, of their choice of any of the Classic subscription plans in addition to switching to one of the new plans?"

I am personally still troubled by MP's overnight, bombshell announcement of the new plans a few months back while, during that last live broadcast, Chris and Darien promising that if the Classic plans were ever to be terminated, MSPs would be notified at least a year in advance (I think that was the length). For MP to be promising lead time notice of changes concurrent with delivering bombshell "no advance notice" changes is a terrible precedent which MP still needs to come clean on. Or, just be honest and tell us "We'll do whatever we want, whenever we feel like it." I have no complaint with honesty.
Post 11 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
Quote:
Originally Posted by @Home3D
"What about offering legacy MSP's the option, for a set period of time, of their choice of any of the Classic subscription plans in addition to switching to one of the new plans?"


Ha! That was your repeatedly asked question during the WGAN-TV Live at 5 Town Hall: Matterport New Pricing.

Can you join us today and ask Chris your follow-up questions?

Best,

Dan
Post 12 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
Hi All,

A WGAN Member that can't join the show today writes...

Dan

---

1. What is MP doing to stay ahead of a seemingly, burgeoning number of competitors?

2. When will they “really” add support for 360 scans into a 3D model, instead of the band-aid that currently exists?

3. When will they add support for turning a guided tour into a separate up/downloadable file, instead of recommending some lame, low-quality, screen-capture solution? (Mattervids are too slow and too long!).
Post 13 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user



Add to My Calendar (Automatically receive the link to join the show)
Post 14 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
live at the top of the hour 5 pm EDT
Post 15 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
Video: WGAN-TV Matterport CMO Chris Bell on How Matterport will Scale Exponentially

Hi All,

Matterport is working on a Matterport Pro3 3D Camera: not imminent, said Matterport Chief Marketing Officer Chris Bell during the show.

What are strategies that will help Matterport get to 100,000,000 million Matterport 3D Tours: up from 2 million now (exponential growth)? Chris discusses working the plan of five verticals in multiple countries with multiple camera options:

1. Residential/commercial real estate
2. Architects, Engineering and Construction (AEC)
3. Insurance and Property Restoration
4. Property Management
5. Travel and Hospitality

(Powered either by DIY or MSPs)

What are your takeaways from the show?

Best,

Dan

P.S. Special thanks to Chris Bell for being by guest on the show and @Jwbuckl for arranging ...
Post 16 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
Hi All,

Here are two related WGAN Forum discussions:

Transcript: WGAN-TV How Matterport will Scale Exponentially
Question of the Day: Do you use Pinterest to market to agents/home sellers?

Best,

Dan
Post 17 IP   flag post
Matterport
Representative
Jwbuckl private msg quote post Address this user
@Garnetwest I wanted to ensure your questions were answered in the Live @ 5 session with Dan and Chris. I believe they touched on all the items you listed? Can I help with any further clarifications?
Post 18 IP   flag post
Matterport
Representative
Jwbuckl private msg quote post Address this user
@Home3D Your questions listed above were not asked on the Live @ 5 segment with Dan and Chris last Thursday so I thought I would attempt to address them here for you.

Quote:
Originally Posted by Home3D
"What about offering legacy MSP's the option, for a set period of time, of their choice of any of the Classic subscription plans in addition to switching to one of the new plans?"


This concept is not being considered at this time.

Quote:
Originally Posted by Home3D
For MP to be promising lead-time notice of changes concurrent with delivering bombshell "no advance notice" changes is a terrible precedent which MP still needs to come clean on.


The new plans were intended to streamline and simplify the purchase process particularly for new customers of Matterport where they are starting from zero and building a model portfolio. The old pricing concepts found in the Classic plans including processing and large model fees, credits and plan limits etc proved to be overly complex and the new plans were aimed at creating an all in one fee. For many current customers with models already hosted, these plans did not look so attractive since they had already paid for processing, large models, etc. historically.

This is the reason the company grandfathered-in plans "indefinitely" for existing customers - the actual term used by the company at the release. It was only after pressure for a notice period commitment in the future that the company made the "one-year notice period promise." Contrary to speculations, there are no discussions internally about ever-changing these grandfathered plans.

With this context out of the way, the company did preview the pricing changes with its focus group panel of MSPs and limited customers before release, but you are right, in that beyond these previews in test groups there was/is no sense of obligation to "pre-announce" changes to the whole of the customer base before actual announcements. By having grandfathering, the thinking went, the actual notice was the preannouncement in a sense.
Post 19 IP   flag post
Basic
Member
Garnetwest private msg quote post Address this user
Quote:
Originally Posted by Jwbuckl
@Garnetwest I wanted to ensure your questions were answered in the Live @ 5 session with Dan and Chris. I believe they touched on all the items you listed? Can I help with any further clarifications?

Hey @JWBUCKL thanks for proactively reaching out. That in and of itself shows me that Matterport is at least trying to appease its customers and isnt running away from the tough questions.
First let me say that after Chris' appearance on the show, I did in fact purchase a Pro2 camera from Matterport as promised. It should arrive in a day or so.
I do still want clarification on the Zillow question. Here's my issue...they are using 360 instead of True3D technology to power their user experience, which most can agree isnt a premium Matterport experience. But is it "good enough" for most folks, including realtors and the average consumer that cant tell much of a difference? The "good enough" approach that Zillow (and others) seem to be taking is what many fear will devalue their premium Matterport equipment, especially since Matterport is somewhat cosigning it by allowing those cameras to utilize the processing platform. There are countless examples in the tech world (ie. Beta vs. VHS) where the best technology is snuffed out by "good enough", mostly based on convenience and price. Not having a deal with Zillow, AirBnB, etc. really puts Matterport and MSPs in a difficult spot...long-term, unless there is real innovation and price equalization coming. So I guess my questions are, is Matterport betting against the "good enough" strategy of Zillow and others? Or is it actively trying to make the platform deals with Zillow and others which are necessary to keep its superior technology relevant and in demand?
Post 20 IP   flag post
Matterport
Representative
Jwbuckl private msg quote post Address this user
@Garnetwest Thank you for being a customer and welcome to the world of True3D!

Quote:
Originally Posted by Garnetwest
But is it "good enough" for most folks, including realtors and the average consumer that cant tell much of a difference?


When True3D tours are put up against 360 panos (Zillow, VRBO) they can immediately tell a difference and preferences always seems to point to the full tour. Your point is a fair one, however, in that most consumers have not yet seen a Matterport tour yet so they have no basis of comparison to expect more.

This does bring up a good question though, and that is Matterport best suited/targeted at either the average or the median? The average Realtor in the US is selling a home at a median home price of $226,800 according to Zillow and is looking at an agent commission of about $3,400. From this comes out all marketing and sales costs and over an average of 68 days. (local markets vary widely). The point is that there generally is not enough money in the Realtor system at the average for professional photography of any kind, including True3D. I think this is why Zillow, using the median as a target, probably started by the "good enough" and free method to cover the low through the average range of the market first. Homes move faster, there is less budget for more advanced/non-free options and the average agent can shoot the pano themselves with an iPhone or consumer 360. So to answer your question, this like is good enough for its purpose under these market conditions.

Matterport tends to thrive above the average home market where the homes become more challenging to market, stay on the market longer and benefit from the "premium experience" of True3D. Here is where we are showing in studies that using Matterport, the home sells faster (31 days) and for more money (up to 9% in some markets).

Quote:
Originally Posted by Garnetwest
So I guess my questions are, is Matterport betting against the "good enough" strategy of Zillow and others? Or is it actively trying to make the platform deals with Zillow and others which are necessary to keep its superior technology relevant and in-demand?


Yes, Matterport continues to actively pursue platform deal with Zillow, AirBnB, and others. In some cases, we are forced to take "first steps" with these platforms as we continue to drive for the ability to integrate True3D tours to their sites. A recent example of this is HomeAway/VRBO where we are enabling the upload of panos from Matterport to their platforms via API. Not in any way optimal, but the first step with a goal of progression. This is similar to what Zillow is doing. Is it good enough? Customers are saying "no", we want 3D tours and that was our hope and the hope for Zillow.

The other thing the company has actively done to combat the "good enough" syndrome is recently open up the platform to 360 cameras thanks to the development of Cortex, our AI engine, in order to make a version of True3D more approachable and affordable. We are finding that the more people play with and demonstrate the technology, the more of it is demanded and we are seeing a good many 360 users move up to the Pro2 camera. We will continue to drive more solutions to drive consumer-level ubiquity overtime at the same time improve and grow the proline of cameras.

The third and final the company has actively done to combat the "good enough" syndrome is to expand and support different verticals well beyond residential real estate where True3D is necessary to meet the requirement of good enough. Insurance, AEC and Travel and Hospitality are but a few of these verticals showing tremendous growth in recent years.

I hope this helps answer your questions, but please do come back with any other question, comments or concerns.
Post 21 IP   flag post
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Home3D private msg quote post Address this user
Threw me off reading “True3D” which sounded like a trade name. Let me suggest ‘true 3D’ instead. I know it’s a small matter, but let’s emphasize there are now multiple true 3D solutions, both Matterport and GeoCV, and even in-between solutions such as this NodalView model I shot with their iPhone / Rotator solution which includes an interactive 3D dollhouse view.

Yes, the room furnishings are squashed flat to the floors and walls, but the walls are there and pretty accurate. And when you tap the 3D model bringing it full-screen, you can select a room and, voila, you’re there. So even the definition of true 3D is getting squishy.

Certainly everything we’re doing here is in its infancy. A news article today noted that the computer on Apollo 11 had 2kb of RAM. Haha! 2kb? Hilarious. What we do today with MP and Geo and others will soon be the quaint middle ages of virtual space.

As for affordability, I agree completely that Zillow is (admirably) trying to offer a solution that everyone can afford. But I predict it to fail unless they open their 3D Home window link to other systems which look way better such as NodalView, just as Zillow permits “professional” videos to play from their Video window. Yeah, Zillow hates MP for reasons best understood in the C-suite. C’est la vie.

As simple as “Zillow Videos” were to shoot with their app, they’ve never been widely used. And 3D Home walkthrough are more challenging to create than Zillow Videos. This will remain the realm of real estate photographers. Zillow does NOT understand that most agents will never take the time and care to make these media assets for their listings.
Post 22 IP   flag post
Basic
Member
Garnetwest private msg quote post Address this user
Quote:
Originally Posted by Jwbuckl
@Garnetwest Thank you for being a customer and welcome to the world of True3D!

Quote:
Originally Posted by Garnetwest
But is it "good enough" for most folks, including realtors and the average consumer that cant tell much of a difference?


When True3D tours are put up against 360 panos (Zillow, VRBO) they can immediately tell a difference and preferences always seems to point to the full tour. Your point is a fair one, however, in that most consumers have not yet seen a Matterport tour yet so they have no basis of comparison to expect more.

This does bring up a good question though, and that is Matterport best suited/targeted at either the average or the median? The average Realtor in the US is selling a home at a median home price of $226,800 according to Zillow and is looking at an agent commission of about $3,400. From this comes out all marketing and sales costs and over an average of 68 days. (local markets vary widely). The point is that there generally is not enough money in the Realtor system at the average for professional photography of any kind, including True3D. I think this is why Zillow, using the median as a target, probably started by the "good enough" and free method to cover the low through the average range of the market first. Homes move faster, there is less budget for more advanced/non-free options and the average agent can shoot the pano themselves with an iPhone or consumer 360. So to answer your question, this like is good enough for its purpose under these market conditions.

Matterport tends to thrive above the average home market where the homes become more challenging to market, stay on the market longer and benefit from the "premium experience" of True3D. Here is where we are showing in studies that using Matterport, the home sells faster (31 days) and for more money (up to 9% in some markets).

Quote:
Originally Posted by Garnetwest
So I guess my questions are, is Matterport betting against the "good enough" strategy of Zillow and others? Or is it actively trying to make the platform deals with Zillow and others which are necessary to keep its superior technology relevant and in-demand?


Yes, Matterport continues to actively pursue platform deal with Zillow, AirBnB, and others. In some cases, we are forced to take "first steps" with these platforms as we continue to drive for the ability to integrate True3D tours to their sites. A recent example of this is HomeAway/VRBO where we are enabling the upload of panos from Matterport to their platforms via API. Not in any way optimal, but the first step with a goal of progression. This is similar to what Zillow is doing. Is it good enough? Customers are saying "no", we want 3D tours and that was our hope and the hope for Zillow.

The other thing the company has actively done to combat the "good enough" syndrome is recently open up the platform to 360 cameras thanks to the development of Cortex, our AI engine, in order to make a version of True3D more approachable and affordable. We are finding that the more people play with and demonstrate the technology, the more of it is demanded and we are seeing a good many 360 users move up to the Pro2 camera. We will continue to drive more solutions to drive consumer-level ubiquity overtime at the same time improve and grow the proline of cameras.

The third and final the company has actively done to combat the "good enough" syndrome is to expand and support different verticals well beyond residential real estate where True3D is necessary to meet the requirement of good enough. Insurance, AEC and Travel and Hospitality are but a few of these verticals showing tremendous growth in recent years.

I hope this helps answer your questions, but please do come back with any other question, comments or concerns.



Thanks @Jwbuckl for your prompt reply!

I've got no additional questions, your answers are "good enough" for now! LOL

I look forward to getting my first Pro2 camera tomorrow and learning more about the platform from a hands-on perspective before I comment further.
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