Capital One Closed Hopper Tech and Employee Deal in April, Focuses on Travel Expansion
Photo Credit: Capital One's first dedicated travel app. Capital One
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The Hopper tech acquisition, along with that of Discover and Brex, position Capital One Travel to get much more competitive with American Express and Chase Travel in going after luxury and business travelers.
Capital One CEO Richard Fairbank said the company sees many opportunities in travel but first it needs to focus on the "build out" of the Hopper technology that it acquired in April.
"In April, we brought the technology and capabilities that power Capital One travel in-house," Fairbanks said during Capital One's first-quarter earnings call Tuesday. "We now fully own the technology that we have built in partnership with Hopper, and the Hopper talent we've worked with will join Capital One."
This was the first time that Fairbanks publicly discussed the Hopper deal with investors.
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