Hopin (company)
.png?lang=en){kind=logo} | |
| Industry | Videoconferencing, VoIP, and Instant messaging |
|---|---|
| Founded | January 10, 2020 |
| Founder | Johnny Boufarhat |
| Defunct | 2024 |
| Fate | Acquired by RingCentral |
| Successor | RingCentral |
| Website | hopin |
Hopin was a technology company of British origin. It developed a proprietary video teleconferencing online conference-hosting platform.[1] It was a fully-remote company without an office address.[2]
History
[edit]Hopin was founded in 2020 by Johnny Boufarhat. Its platform allowed meeting participants for conference attending and networking online, exchange virtual business cards, and get a summary of their connections after an event. It become increasingly popular in the wake of the COVID-19 pandemic.[3]
Hopin raised over $1 billion in funding from various investors, including Accel, IVP, Coatue Management, Northzone, Salesforce Ventures, and others.[1][4] Following a share buyback for shareholders of over $500M+, the company sold its 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 its live-streaming and video hosting products Streamyard and Streamable.[5][4]
By August 2023, Hopin's valuation was slumped to $3.85 billion, from a high of $7.8 billion in 2021.[5]
In February 2024, Hopin moved its headquarters to the United States and closed its UK Corporate entity.[6] Hopin sold its business suite (Streamyard, Streamable and Superwave) to Bending Spoons in April 2024.[7]
See also
[edit]- Impact of the COVID-19 pandemic on science and technology
- List of video telecommunication services and product brands
References
[edit]- ^ 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.
- ^ "CEO Secrets: 'My billion-pound company has no office'". BBC News. Retrieved June 24, 2021.
- ^ 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.
- ^ 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.
- ^ a b Elder, Bryce (August 2, 2023). "Hopin: crash landing for Europe's highest-flying Covid unicorn". Financial Times Alphaville. Retrieved August 15, 2023.
- ^ Scammell, Robert (February 27, 2024). "Hopin winds down UK business in US relocation". UKTN. Retrieved February 27, 2024.
- ^ "Bending Spoons to Acquire StreamYard, Leader in Live-Streaming and Video-Recording Solutions". www.businesswire.com. April 9, 2024.
