Hopin Sold for $15M After Raising $1B

Hopin Sold for $15M After Raising $1B(meetings.skift.com)

2 points by alex1212 2 years ago | 3 comments

2Gkashmiri 2 years ago |

i dont care about "valuation" but where did the $1B go? expenses? salaries? CEO getting a fat bonus?

stuff like this is surreal to be honest. I'd like to set up a unicorn like this, raise a bunch of money, take half and split. i wouldn't care what happens to the "company", neither do these people apparently.

stefanos82 2 years ago | |

This is taken directly from the article:

A Unicorn Journey’s – The Hopin Timeline

    • Founded in June 2019 by Johnny Boufarhat
     
    • Raises an undisclosed amount in Pre Seed Round in October 2019
     
    • Releases beta version of virtual events platform in February 2020
     
    • Raises $6.5 million in February 2020 in Seed Round in February 2020
     
    • (Covid pandemic lockdowns start in March 2020)
     
    • Raises $40 million in a Series A in June 2020
     
    • Raises $125 million in a Series B in November 2020
     
    • Acquires Topi (mobile app) in December 2020
     
    • Acquires StreamYard for $250 million in January 2021
     
    • Recognized as Europe’s fastest-growing startup of all time
     
    • Raises $400 million in a Series C at a valuation of $5.65 billion in March 2021
     
    • Acquires Streamable and Jamm in March 2021
     
    • Acquires Boomset (on-site event technology) in June 2021
     
    • Founder sells $140 million worth of secondary shares in June 2021
     
    • Acquires Attendify (mobile app) in July 2021
     
    • Raises $450 million in a Series D at a valuation of $7.75 billion in August 2021
     
    • Lays off 12% of its workforce in February 2022
     
    • Lays off 29% of its workforce in July 2022
     
    • Splits product offerings and launches Session product in November 2022
     
    • Events platform and Session product assets sold for $15 to $50 million to RingCentral in August 2023

2Gkashmiri 2 years ago | | |

i read that but did not get

going from

> Raises $450 million in a Series D at a valuation of $7.75 billion in August 2021

> Lays off 12% of its workforce in February 2022

so where did this $450M go?

• Founded in June 2019 by Johnny Boufarhat • Raises an undisclosed amount in Pre Seed Round in October 2019 • Releases beta version of virtual events platform in February 2020 • Raises $6.5 million in February 2020 in Seed Round in February 2020 • (Covid pandemic lockdowns start in March 2020) • Raises $40 million in a Series A in June 2020 • Raises $125 million in a Series B in November 2020 • Acquires Topi (mobile app) in December 2020 • Acquires StreamYard for $250 million in January 2021 • Recognized as Europe’s fastest-growing startup of all time • Raises $400 million in a Series C at a valuation of $5.65 billion in March 2021 • Acquires Streamable and Jamm in March 2021 • Acquires Boomset (on-site event technology) in June 2021 • Founder sells $140 million worth of secondary shares in June 2021 • Acquires Attendify (mobile app) in July 2021 • Raises $450 million in a Series D at a valuation of $7.75 billion in August 2021 • Lays off 12% of its workforce in February 2022 • Lays off 29% of its workforce in July 2022 • Splits product offerings and launches Session product in November 2022 • Events platform and Session product assets sold for $15 to $50 million to RingCentral in August 2023