Porch CEO: SPAC deal gives us $200M and a clean slate

Porch’s merger with a blank-check company will wipe out its history of losses and set the stage for massive revenue growth, according to the startup’s chief executive. In an interview with The Real Deal, founder and CEO Matt Ehrlichman defended Porch’s finances after an IPO filing revealed $263 million in cumulative losses as well as liquidity concerns. Ehrlichman said the deal would give Porch $200 million in cash and no debt. “It gives us a

source https://therealdeal.com/2020/10/20/porch-gets-200m-and-clean-slate-in-spac-deal-says-ceo/