CoStar Group and Matterport have similar missions of digitizing the world’s real estate. The acquisition will allow CoStar to invest in Matterport’s spatial technology, using AI and machine learning to enhance its 3D data library and generative AI to envision physical spaces.
Matterport’s technology enables property tours with smartphone cameras and high-precision capture using the Pro3 camera. The company has amassed a vast collection of property data from around the world, including over 12 million spaces across various sectors.
CoStar, an early adopter of Matterport’s technology, currently features approximately 300,000 Matterport digital twins across its marketplaces, including Apartments.com, LoopNet, CoStar, and Homes.com.
