Hopin (company)

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Hopin
Original author(s)Johnny Boufarhat
Initial releaseJanuary 10, 2019; 5 years ago (2019-01-10)
Operating systemWindows, macOS, Linux, Android, iOS, ChromeOS
TypeVideoconferencing, VoIP, and Instant messaging
Websitehopin.com

Hopin is a proprietary video teleconferencing online conference-hosting platform.[1] As of August 2023, the company is valued about $3.85 billion, slumping from a high of $7.8 billion in 2021.[2] It is a fully-remote company without an office address.[3]

The platform allows meeting participants for conference attending and networking online, exchange virtual business cards, and get a summary of their connections after an event. Hopin enables organizers to create engaging and interactive virtual experiences for their attendees, and has become increasingly popular in the wake of the COVID-19 pandemic.[4]

Since 2020, the platform claims to have hosted more than 80 thousand events, working with organisations and companies like the United Nations, NATO and Unilever. It also claimed to have more than 100,000 customers, including Poshmark, American Express, the Financial Times, but does not disclose price-range publicly for its advanced plans.[5]

Hopin acquired several early startups and companies in web video business including the most prominent Streamyard.[6]

Hopin raised over $1 billion in funding from various investors, including Accel, IVP, Coatue Management, Northzone, Salesforce Ventures, and others.[1][7] Following a share buyback for shareholders of over $500M+, the company sold it's events unit assets, including its technology, customers and engineering and product teams, to RingCentral for $50 million in August 2023. The company continued to operate it's live-streaming and video hosting products Streamyard and Streamable.[2][7]

In February 2024, Hopin moved its headquarters to the United States and closed its UK Corporate entity.[8]. Hopin sold its business suite (Streamyard, Streamable and Superwave) to Bending Spoons in April 2024[9].

See also[edit]

References[edit]

  1. ^ a b "UK virtual events firm Hopin raises $125 mln from Tiger Global, Accel | Reuters". Reuters. January 4, 2022. Archived from the original on January 4, 2022. Retrieved January 22, 2024.
  2. ^ a b Elder, Bryce (August 2, 2023). "Hopin: crash landing for Europe's highest-flying Covid unicorn". Financial Times Alphaville. Retrieved August 15, 2023.
  3. ^ "CEO Secrets: 'My billion-pound company has no office'". BBC News. Retrieved June 24, 2021.
  4. ^ Browne, Ryan (March 4, 2021). "Hopin rides the pandemic-driven boom in online events to a $5.65 billion valuation". CNBC. Retrieved March 1, 2023.
  5. ^ "Pricing – Flexible Plans for Every Organizer | Hopin". hopin.com. Retrieved December 28, 2022.
  6. ^ Wilhelm, Alex (March 23, 2021). "Hopin buys two more companies as it triples down on video focus". TechCrunch. Retrieved December 28, 2022.
  7. ^ a b Griffith, Erin (December 7, 2023). "From Unicorns to Zombies: Tech Start-Ups Run Out of Time and Money". New York Times. Retrieved December 7, 2023.
  8. ^ Scammell, Robert (February 27, 2024). "Hopin winds down UK business in US relocation". UKTN. Retrieved February 27, 2024.
  9. ^ "Bending Spoons to Acquire StreamYard, Leader in Live-Streaming and Video-Recording Solutions". www.businesswire.com. April 9, 2024.