The fire sale of virtual event company Hopin for a mere $15 million highlights the decline of the once-promising pandemic era unicorn, and raises questions about the future of virtual events in the broader events industry.
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Today on the program, Skift Lead Producer Jose Marmolejos speaks with Miguel Neves, Editor-in-Chief of Skift Meetings and host of the Skift Meetings Podcast.
This week, Miguel has been covering the sale of the core business of virtual event company Hopin—the pandemic era unicorn founded in 2019 that rose to a valuation of nearly $8 billion by August of 2021, but that by the following February had started laying off employees, culminating in its sale last week to cloud-based communications company RingCentral for a mere $15 million. As Miguel points out in his reporting: “That is billion with a b and million with an m.”
In this conversation Miguel details the raise and decline of Hopin, how the established players in events never really had incentive to pursue virtual events outside of pandemic era lock downs, and the implications of the Hopin fire sale for the broader events industry.
Check out Skift Meetings to find Miguel’s reporting, along with the latest guidance and inspiration for business event professionals, at meetings.skift.com.
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