Hopin, a virtual events platform provider based in London, UK, paid $250 million for StreamYard, a Tualatin, Oregon-based live video streaming studio that enables content creators to create professional-quality video streaming experiences. Hopin event organizers will benefit from advanced video production features as a result of the acquisition. StreamYard will continue to offer its live streaming studio tools to independent content creators, in addition to eventually integrating its features into the Hopin platform.Hopinstreamyard 250mwilhelmtechcrunch. Hopinstreamyard 250mwilhelmtechcrunch.
The agreement is worth $250 million in cash and stock. Hopin raised a $40 million Series A in late June 2020, followed by a $125 million Series B in November at a $2.125 billion valuation. Hopin told at the time of its most recent round that it had grown its annual recurring revenue (ARR) from zero to $20 million in nine months. Hopin told that StreamYard had scaled to $30 million ARR without the need for outside capital. Moreover, during a discussion about the StreamYard acquisition, Hopin CEO Johnny Boufarhat stated that the combined entity would have approximately $65 million in ARR.Hopinstreamyard or Streamyardhopin.
The agreement does not include a complete integration of StreamYard into the Hopin product. Instead, StreamYard will keep its brand and product in order to continue serving its current customer base. Hopin does plan to better integrate StreamYard’s streaming technology into his company’s flagship product, though its platform will remain streaming-provider agnostic; StreamYard, on the other hand, will become the default Hopin streaming option. According to StreamYard co-founder GeigeVandentop, 15% to 20% of its customers use the service for event-related activities. The remainder is derived from sources such as the creator economy and small businesses.
About StreamYard
StreamYard, founded in 2018 by GeigeVandentop and Dan Briggs, is a live video streaming studio that enables content creators to create professional-quality streaming experiences. Its cloud-based solution allows for the creation of graphically rich branded experiences, the hosting of multiple guests at once, viewer engagement, and simulcasting to multiple live streaming platforms such as YouTube, Facebook, LinkedIn, and Twitch. The company now serves over 100,000 paying customers and adds 10,000 paying customers each month.
About Hopin
Hopin, founded in 2019 by CEO Johnny Boufarhat, offers a live virtual events platform where attendees can learn, interact, and connect with people from all over the world. Hopin allows users to create interactive and immersive live virtual and hybrid events. Attendees can network one-on-one, form groups, watch keynote presentations, send chat messages and polls, and explore interactive expo areas. There is also a virtual backstage area for speakers, as well as numerous sponsorship opportunities.
Hopin has grown from 5,000 registered users and 1,800 organizations hosting events on the platform in February 2020 to more than 5 million users and over 100,000 organizations hosting events. To date, the company has raised more than $170 million, including a $125 million Series B led by IVP and Tiger Global and joined by Coatue and DFJ Growth, as well as returning investors Accel, Northzone, Salesforce Ventures, and Seedcamp. It is a London-based remote-first company with employees in 38 countries.
