How Hopin Grew to $7.8 Billion in Less Than Two Years?
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How Hopin Grew to $7.8 Billion in Less Than Two Years?
It was March 2020, and the world came to a grinding halt as a deadly virus spread its tentacles. Offices closed, restaurants shuttered, and our beloved events vanished into thin air. But amidst the chaos, there was one little startup that couldn't keep up with the constant buzzing of their phones. Today, we dive into the remarkable story of Hopin, the rocket ship that became the fastest-growing SaaS company, hitting $100 million in ARR and a staggering valuation of $7.8 billion in less than two years! Hold on tight as we take you on a rollercoaster ride filled with virtual venues, remote mania, and acquisitions galore!
Building for the venue and not just the stage
Due to an immunological illness, Hopin's CEO, Johnny Boufarhat, was stuck at home and couldn't attend offline events like the rest of us. While we enjoyed socializing and networking at in-person gatherings, Johnny had to make do with webinars and live streams that lacked the personal touch. This disappointment led to a brilliant realization: the online world only focused on the stage and forgot about the venue. That's when Hopin decided to fill that void by creating a virtual event portal that included reception areas, sessions rooms, networking spaces, and even expos! This adaptation struck a chord with people, and Hopin experienced explosive growth, becoming an all-in-one event management platform.
Fundraising - adding fuel to fire!
Hopin's fundraising game has been nothing short of spectacular. With a funding round every 4 months, they've managed to raise a whopping $1 billion in venture funds. The product-market fit, overwhelming demand, and a visionary CEO attracted marquee investors from around the world. Hopin's ability to Build, Buy, and Sell its way to success has catapulted it into the ranks of the fastest-growing companies on the planet!
Build build build, from all over the world!
Hopin's growth wouldn't have been possible without its globally distributed workforce. With 800+ employees spanning across 40+ countries, they've achieved a mind-boggling headcount growth of over 1000% in just two years! Remote-first recruitment and work culture have been the secret sauce behind their lightning-fast execution. From remote onboarding to dedicated engagement programs and the clever use of collaboration tools, Hopin has built a global powerhouse of talent, defying geographical limitations.
Buy buy buy, a page out of the Atlassian M&A playbook
Hopin has been following in the footsteps of Atlassian, making strategic acquisitions to fuel its growth. They have been on a spree, acquiring companies in the video production industry, exploring hybrid and on-site events, and boosting their event marketing capabilities. Speed is key for Hopin, as seen in their rapid launch of Hopin Mobile after acquiring Topi. Their ultimate goal is to become the go-to platform for all event management needs, and these acquisitions are propelling their ambitious growth.
Sell sell sell, be smart, act fast, and go remote!
Hopin's sales game is nothing short of extraordinary. Their pricing plans cater to everyone, with a free option to migrate venues to the cloud. With a dedicated sales team waking up every day to fill their quotas, Hopin's revenue register never sleeps. Their sales process is product-led, data-driven, and supported by a talented team of account executives and sales managers spread across different time zones and languages. Location is no longer a limiting factor for talent, as Hopin hires by timezone, not by city. Armed with a plethora of productivity tools, their remote GTM machinery is an unstoppable force.
Conclusion
Hopin's meteoric rise from a six-member startup to a global powerhouse is nothing short of awe-inspiring. Their focus on creating virtual venues, remote work culture, strategic acquisitions, and a sales engine that never sleeps has propelled them to unprecedented heights. As the world reawakens, Hopin is primed to revolutionize the future of events with their innovative solutions.
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