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Porch Group makes unusual promise in latest acquisition — guaranteeing its stock will double

GeekWire

Big deals have become almost run-of-the-mill for Seattle-based home services tech company Porch Group , which has been acquiring an array of companies in areas such as home inspections, moving, real estate, and insurance. ” The net impact, he said, is “less dilution and more value for our shareholders.”.

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Porch makes stock market debut, raising $322M to fuel its ambitions in home services technology

GeekWire

A recent example was San Francisco-based homebuying company Opendoor Technologies, which went public via SPAC on Monday as a potential bellwether for Porch’s debut as another company in the real estate sector. It posted a net loss of $103 million last year on revenue of $77.6 closing price the day before, as of 7:35 a.m.

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De-risk your enterprise: How CXOs can successfully navigate Broadcom’s acquisition of VMware

CIO Business Intelligence

It’s about seizing the opportunity to reimagine their technology real estate, consider a broader range of cloud and virtualization solutions, and equip their enterprise for sustained success in the digital era. And the Nutanix obsession with customer satisfaction is evident, with a Net Promoter Score consistently above 90.

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Tech Moves: Top Blue Origin engineer joins SpaceX; Axon hires HTC Vive exec; Porch adds to board

GeekWire

Prior to joining Convoy in 2018, Kreiner was CEO of Cal Net Technology Group and a managing partner at Olympic Valley Capital. Eby has been succeeded by Morgan Hellar who originally joined WRF in 2004 as a license administrator for the organization’s patent portfolio. Prior to her promotion, she was WRF’s controller.

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Seattle startup founders, investors react to new state capital gains tax that targets stocks

GeekWire

The law imposes a 7% tax on capital gains of more than $250,000 from the sale of stocks and bonds, excluding revenue from real estate and retirement accounts, among other exceptions. The tax sparked controversy within the tech industry because it targets stocks, a key part of compensation for many startup founders and their employees.

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Porch completes $100M Homeowners of America acquisition, doubling down on insurance market

GeekWire

Based in Irving, Texas, Homeowners of America operates in six states but is licensed to operate in 31 states. Porch cut its net loss in half in 2020, to $51.6 Those companies can pay traditional licensing fees or provide Porch with access to their customers. The company, founded in 2012, has yet to turn a profit.

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Newly public, Porch makes 4 acquisitions for more than $122M, discloses larger-than-expected loss

GeekWire

Porch also disclosed its preliminary financial results for 2020, saying that it expects a net loss between $53 and $55 million for the year, about $20 million further into the red than previously projected in its public filings. The deal is expected to close in the second quarter of this year.