Capital One closed a deal this month to acquire the Hopper tech that powered Capital One Travel, and hired around 150 Hopper employees. I reported exclusively five months ago that this deal was going to happen.
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.
The travel industry’s most important ecosystem story may be Montreal, where aviation DNA, patient capital, and a single Expedia office accidentally created a $15 billion infrastructure layer that much of the industry now runs on.
A new deal may serve to loosen the Capital One-Hopper partnership. Meanwhile, Hopper CEO Fred Lalonde co-founded and chairs a climate company: Doesn't a struggling Hopper require his full-time attention?