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Virtual events juggernaut Hopin continues its rapid acquisition spree today with the news that it has bought U.S.-based video platforms Streamable and Jamm.
The announcement comes weeks after Hopin raised $400 million at a staggering $5.65 billion valuation just 20 months after the company was founded. Over that period, Hopin has grown its headcount from six people at the start of 2020 to more than 400 today, with thousands of enterprise customers including Hewlett Packard, American Express, Adobe, and GitLab.
Video gaga
While Hopin has always provided its own native video streaming technology, the company also allows users to ingest streams from third-party sources, including YouTube, Vimeo, Wistia, and Streamable — Hopin elected to buy Streamyard outright back in January after noting its popularity among events organizers. This came just weeks after its first acquisition, when it bought event app development company Topi.
Streamable, for the uninitiated, is a video hosting platform that makes it easy for anyone to upload and share videos without having to create an account, while Jamm is a video collaboration app for the workplace — “it’s like Slack and Zoom had a baby,” the company proudly proclaims.
Above: Jamm & Slack integration
Hopin is now strongly positioned to continue on its upward trajectory in the fast-growing virtual events space, a trend that is likely to continue even when in-person meetings become feasible again. Indeed, the pandemic has served to highlight many of the inherent benefits offered by online events, which enable companies to scale their meetups with fewer resources and access valuable data that can help sales and marketing teams correlate digital interactions with business objectives. By most accounts, online events are very much here to stay, either as standalone entities or as part of a hybrid format.
Streamable and Jamm’s CEOs will continue to spearhead their respective platforms as part of Hopin, which said it plans to integrate both technologies into its existing platform to serve as the “basis for the development of future video products and features.”
Stopping short of confirming specific plans, Hopin said the acquisitions would help it expand into a “multi-product suite of video-centric collaboration products.”
With integrated YouTube-like video hosting smarts from Streamable, this opens the door to any number of potential future use cases. It makes it easier for marketers or content producers to upload and share video on the fly in real time — either from a virtual location or on-location from a conference as part of a hybrid setup. Similarly, Jamm’s built-in features spanning video chat, screen-sharing, and Slack integration could power Hopin’s ambitions beyond events and catapult it into the broader business collaboration sphere.
Terms of the two deals were not disclosed, though it’s worth noting that Streamable and Jamm had only raised a small amount of seed funding, meaning that their sale prices are unlikely to have broken the bank for Hopin.
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