Short-term rental startup Sonder to merge with SPAC

Sonder, which transforms apartments and hotel rooms into short-term rentals, is merging with special purpose acquisition company Gores Metropoulos II, producing an entity with an enterprise value worth $2.2 billion. “The deal allows us to put meaningful capital on the balance sheet in what’s an exceptional time, if not the best time in the history of hospitality, to lean into the recovery,” says Sonder CEO Francis Davidson.