Observed Signal · Aug 2, 2023 · M&A - Completed · Source: Trending Topics · Impact: 2/5 · Sentiment: Neutral
Hopin sells event platform to RingCentral
London-based virtual events startup Hopin, once valued at €6.5 billion during the pandemic, has sold its events and sessions product lines to RingCentral for an undisclosed sum. RingCentral is acquiring the technology assets, customer relationships, and engineering, product, and sales teams behind Hopin's event offering, aiming to expand its video communications portfolio. Hopin will continue operating and pivot toward building a community suite for content creators and influencers using products such as StreamYard, Streamable, and Superwave. CEO Johnny Boufarhat framed the deal as finding a new home for Hopin's technology, while RingCentral CEO Vlad Shmunis said the acquisition will accelerate personalized video meetings and events. Analysts note that post-pandemic budget constraints and hybrid meeting complexity create demand for specialized video tools.
Hopin's sale of its virtual event platform to RingCentral underscores the post-pandemic decline of event-tech valuations and consolidates event technology under a major UCaaS provider, with limited direct impact on core advertising technology.
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Key Takeaways & Evidence Grounding
- Hopin sold its events and sessions product lines to RingCentral for an undisclosed sum.
- RingCentral acquired Hopin's technology assets, customer relationships, and engineering, product, and sales teams.
- Hopin was at one point valued at €6.5 billion by investors.
- Hopin will continue with StreamYard, Streamable, and Superwave to build a community suite for content creators and influencers.
- RingCentral aims to expand its video solutions for interactive events and webinars.
Connected Companies & Entities
2 Entities mapped“RingCentral hat die Technologie-Assets, Kundenbeziehungen sowie das Engineering-, Produkt- und Vertriebs-Team von Hopin übernommen....”
“RingCentral hat die Technologie-Assets, Kundenbeziehungen sowie das Engineering-, Produkt- und Vertriebs-Team von Hopin übernommen....”
Ontology Mapping & Concepts
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