Hopin’s founder and CEO Johnny Bufarhat.
Hoppin
London — When Johnny Bufarhat founded his virtual event business two years ago, there were no pandemics, blockages, or travel restrictions. It all changed in 2020.
The outbreak of the coronavirus has canceled or postponed a number of major events and conferences as governments around the world have imposed restrictions on public life to curb the spread of Covid-19.
The result is a boom in video conferencing software that benefits Zoom, Microsoft, Google and more.
But it wasn’t just the tech giants in the United States that grew fast. Boufarhat’s company Hopin and several other start-ups, including Run The World and Bizzabo, have met growing demand as event organizers compete to move rallies online.
The wave of demand quickly pushed Hopin to “unicorn” status, with its valuation soaring to over $ 2 billion in the November funding round. Since then, Hopin’s market value has more than doubled to $ 5.65 billion in March.
Today, the company has acquired yet another mega-investment, the fourth since February last year.
Hoppin said Thursday that he raised $ 450 million in a funding round jointly led by Arena Holdings and Ultimate Capital. The latest cash injections value startups at a whopping $ 7.75 billion, making them one of Europe’s most valuable tech unicorns.
Luck stroke
27-year-old Buffalhat said much of his company’s success came down to luck.
“I think I’m lucky,” he told CNBC in an…
