Business
Porch Launches Corporate Video and Progresses Towards Business Combination Closing
NEW YORK and SEATTLE, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Porch.com, Inc. (“Porch”), a leading software and services platform reinventing the home services
About this update from Porch Group, Inc.
[{"type":"text","content":"NEW YORK and SEATTLE, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Porch.com, Inc. (“Porch”), a leading software and services platform reinventing the home services industry and how people take care of their homes, has launched a corporate video ahead of the completion of its business combination with PropTech Acquisition Corporation (“PropTech” or “PTAC”) (NASDAQ: PTAC). The transaction remains on track and is anticipated to close in the fourth quarter of 2020.\n “As we near the completion of our transaction and become a publicly traded company, we felt it was important to provide a glimpse into what makes our company unique,” said Porch.com CEO, Chairman and Founder Matt Ehrlichman. “Porch has created the first fully integrated software and home services platform with an innovative B2B2C pricing model that helps make homeownership easy. This platform helps provide access to nearly two-thirds of all U.S. homebuyers1, providing Porch a distinct advantage engaging with these high-value customers. While we’ve been quiet about what we’ve been building over the last several years, we’re excited to now share who Porch is and what we are all about. We look forward to our public debut in the coming months.” More information about Porch, including the corporate video, can be found at theporchgroup.com. In addition, today, PropTech filed its initial registration statement on Form S-4 in connection with the business combination with the Securities and Exchange Commission (“SEC”). The document can be accessed by clicking here. 1 For the period August 2019 through January 2020 (which accounts for delay between home inspection and closing of sale), nearly two-thirds of U.S. residential properties bought or sold in the period were processed through the Porch system. About Porch.comSeattle-based Porch, the vertical software platform for the home, provides software and services to approximately 11,000 home services companies, such as home inspectors, moving companies, real estate agencies, utility companies, warranty companies and others. Porch helps these service providers grow their business and improve their customer experience. As a way to pay for the software and services, these companies connect their homebuyers to Porch, who in turn make the moving process easier, helping consumers save time and make better decisions about critical services, includ...