(SAII), Avis Budget Group, Inc. (NASDAQ:CAR) – Could Otonomo Be The Best SPAC Deal Of 2021? The Bear Cave Thinks So
Israel-based car data management company Otonomo is going public in a SPAC deal valuing the company at $1.4 billion. The Bear Cave, which normally tries to point out bad companies, shared three key reasons why Otonomo could be the best SPAC for 2021 despite low media exposure.
Large Opportunity: Research firm The Bear Cave believes the opportunity for connected car data is huge and still in the beginning stages. It says Otonomo, going public with Software Acquisition Group II (NASDAQ: SAII), has a large opportunity in the market.
“One opportunity is usage-based car insurance,” the research firm said. This could lead to consumers sharing their data and getting better rates from insurance companies.
Fleet management is mentioned as another area of opportunity within the connected car data market. Avis Budget (NASDAQ: CAR) is mentioned as both a customer of Otonomo and an investor.
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