Hopin, a unicorn best known for its online events-hosting service, revealed this morning that it has actually acquired two more business. The smaller sized issues, Jamm and Streamable, were gotten in deals that Hopin declined to information.
In an email to TechCrunch, Hopin CEO Johnny Boufarhat said that both business were “early-stage” concerns. We can infer deal scale from the comment.
Hopin has operated with an acquisitive bent in recent months, announcing an acquisition of StreamYard for $250 million in January in addition to today’s offers.
Jamm offers what it calls “1-click video partnership for groups,” while Streamable helps other business upload and stream their videos. After acquiring StreamYard, which provided video livestreaming services, it’s not difficult to discern that video is the locus of Hopin’s checkbook focus.
Boufarhat concurs, explaining to TechCrunch that its latest purchases will assist his business “build a lot more technology for clients to make professional-grade video capabilities quickly accessible at scale.” The CEO added that his company is “unofficially” calling its efforts “a community of connection powered by all aspects of video.”
The total addressable market (TAM) for that vision is likely bigger than the online-events work that Hopin is best understood for, or even the hybrid online/offline occasions market that the business was originally born to support.
It had purchased a business with product revenues when Hopin announced its StreamYard buy. Boufarhat’s team decided to keep the start-up alive as a standalone product. As Jamm and Streamable are earlier-stage affairs, will they get the same treatment?
Yes and no. Yes for Streamable, no for Jamm. Per Hopin’s creator, Jamm will be “totally incorporated into Hopin’s products,” while Streamable will both survive on as a specific product while also finding points of integration into its occasions platform.
TechCrunch was curious if, as in the StreamYard deal, the quantity of profits that Hopin had purchased was product. It is not, per Boufarhat. So, the last earnings number we have for Hopin, some $70 million ARR revealed throughout its $400 million financing round previously this month, is most likely still significant. Hopin was valued at $5.65 billion at the time.
The business did divulge that the number of “organizers” utilizing its platform to host events has increased from 85,000 previously this month to 90,000 since today. That’s just under 6% development in less than a month. Hopin’s quick development trajectory appears undamaged for now.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.