Hopin's $7B Valuation Crash

A story about how Hopin, a virtual events platform, dramatically fell from a $7B valuation to selling for just $15M.

"Hopin was like one of the hottest startups a couple years ago during COVID. The founder took over $100M in secondary funding. They raised at a $7B valuation, but they just sold for $15M to RingCentral.

They could have dominated the market, but they had this stupid thesis that virtual events were going to take over physical events, which was the dumbest thing I've ever heard. If they had just built a better product for event hosts and conferences, that was just a 10x better product, that would have been a great business. But instead, they failed because they bet on virtual events taking over."

Note: Story told by Jason Yanowitz during a discussion about potential business opportunities in the events space.