Planet Labs Inc. is expected to go public through dMY Technology Group Inc IV (NYSE: DMYQ), a special purpose acquisition company, in a deal valued at $2.8 billion.
Niccolo De Masi, CEO of dMY Technology Group, gave an exclusive interview to Benzinga’s YouTube show “SPACs Attack” on Monday.
Planet Labs is a company based in the United States. Planet Labs’ web-geo platform uses high-frequency satellite data and core analytics to give consumers the information they need to make timely and effective decisions.
Planet Labs, according to De Masi, is a nine-figure revenue space, ESG, and data firm. He went on to say that space, ESG, and data are three of the most popular investment topics right now.
Planet Labs, according to De Masi, is a subscription-based diversified global data firm that sells to a variety of consumers.
“The most crucial piece of infrastructure for monitoring [and] quantifying climate change around the planet,” he added of Planet Labs.
Market Potential: According to De Masi, Planet Labs now has over 200 satellites that generate over $100 million in income, and the company is on its way to becoming “the Bloomberg terminal for whole earth data.”
Planet Labs is at the crossroads of two multibillion-dollar global economic shifts: digital transformation and sustainability transformation.
According to De Masi, the company is targeting at least a dozen distinct verticals. He noted that each sector allows the company to become a billion-dollar corporation on its own.
According to him, each company that is serious about software develops its own hardware. Outside of Tesla Inc (NASDAQ: TSLA) and Apple Inc (NASDAQ: AAPL), Planet Labs is the only other business with a comparable TAM, manufactures its own hardware and software, and has the data edge needed to “push machine learning advantages,” according to De Masi.
Planet Labs is five to seven years ahead of the competition, according to De Masi of Benzinga. He predicted that as the corporation concentrates on innovation, its lead will only grow.
He claims that Planet Labs’ zoom capabilities and whole-earth scan technologies are already too advanced for the competition to match. The corporation has exclusive data that allows it to keep pricing power while selling the same data to as many companies as possible.
Notes from the SPAC: Planet Labs and dMY Technology Group Inc IV are scheduled to complete their merger later this year. The combined business will be known as Planet Labs and will trade on the New York Stock Exchange under the ticker symbol “PL.”
DMYQ Price Movement: dMY Technology Group Inc IV was up 0.30 percent to $9.93 at the time of our last check on Monday.
Here’s the link to the complete interview:
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