Porch.com to go public in $523M blank-check deal
Porch.com, a VC-backed home services marketplace, is going public with a blank-check company, one of the first such deals in the proptech world.
The Seattle-based firm said Friday it entered a definitive agreement to merge with PropTech Acquisition Corp., a Los Angeles-based special acquisition company, or SPAC, formed last year by Abu Dhabi Investment Authority veterans Thomas Hennessey and Joseph Beck. The deal values Porch.com at $523 million.
Source: www.therealdeal.com