Hopin goes on acquisition spree after latest funding round

25 Mar 2021

Image: © Kateryna/Stock.adobe.com

The young online events company, recently valued at $5.65bn, has acquired video streaming start-ups Streamable and Jamm.

Fresh off a bumper funding round, online events platform Hopin has gone shopping for start-ups again.

The London-based company, now valued at $5.65bn less than two years after it was founded, has acquired Streamable, a video hosting platform with 5,000 paying customers, and Jamm, which had raised just a small amount of venture capital funding.

Both companies are in the video streaming space and Hopin said that the integrations of their technology will help improve Hopin’s own video capabilities. No financial terms for the acquisitions have been disclosed.

“The technology and resources from Jamm and Streamable will become foundational components to future products and the entire Hopin video experience — from production and video quality to how our customers can collaborate and distribute content,” Hopin chief executive Johnny Boufarhat said.

Armen Petrosian, who founded Streamable in 2014, said he will continue to lead the business under the Hopin banner.

“The first priority for Streamable will be to invest in our product suite and ultimately integrate the Streamable platform into Hopin’s future suite of products,” Petrosian added.

These two deals follow the acquisitions of livestreaming start-up StreamYard in January and Topi, another online events start-up, in December.

Hopin has attracted a lot of VC attention in the last year as lockdowns have provided a boost for the online events industry. It raised $400m in its Series C round earlier this month, led by Andreessen Horowitz and General Catalyst. This swiftly followed its $125m Series B round last November where Tiger Global Management and Salesforce Ventures backed the company. Web Summit’s Amaranthine VC fund was also an early backer.

Hopin launched its platform in early 2020, just as the pandemic put an end to in-person events. According to the company, there have been more than 90,000 event organisers on its platform.

Jonathan Keane is a freelance business and technology journalist based in Dublin