Porch.com to go public in $523M blank-check deal

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

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