Sonder Holdings Secures $146M Financing, Market Cap Up 125% in Marriott Deal

Aug 19, 2024, 04:53 PM

Sonder Holdings has entered into a strategic licensing agreement with Marriott International, aiming to integrate its brand into Marriott's system. This move is part of a series of deals to raise capital and secure additional liquidity. The agreement includes approximately $146 million in additional financing, providing a significant boost to Sonder, which has struggled as a public company. The company's market capitalization has surged by 125% following the announcement, with $SOND trading at +16.8% pre-market. Sonder will remain independent while being added to the Marriott Bonvoy program next year.