Lodging startup Sonder, which decks out apartments and hotel rooms as hip short-term rentals, is in talks to merge with Gores Metropoulos II, Bloomberg reports, citing sources familiar with the matter.
A transaction between Sonder and the Gores SPAC is set to value the combined entity at more than $2.5 billion, said one of the people. Terms haven’t been finalized and talks could still fall apart.
Representatives for Sonder and Gores declined to comment.
Last year, Sonder reached a valuation of $1.3 billion after a funding round. Read more.
