Virtual events platform Hopin Has Just acquired Streamyard

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According to Marketing Land, Hopin has acquired Steamyard. The deal with the virtual events platform happened last week, and Hopin reportedly paid $250 million.

Startup Hopin was founded and is based in the UK less than two years ago. Steamyard is based in Oregon, and it's only one year older. This deal is the combination of two up and coming, but hugely successful enterprises after Hopin already acquired Topi back in December. Hopin essentially provides a virtual event venue - capable of hosting sizeable virtual conferences:

"When we looked at what was in the market-place and what we had used before and mapped it to what our requirements were for success, it became evident to us that we could do this at a lower cost and much more flexibility [by assembling] best-of-breed components and elements -- for example, we're streaming through Streamyard to Vimeo..."
Hopin's website explains exactly how the platform works and what the benefits are for organizations that decide to host events via its stack:

Hopin is a virtual venue with multiple interactive areas that are optimized for connecting and engaging. Attendees can move in and out of rooms just like an in-person event and enjoy the content and connections you've created for them. The results? High show-up rates, low drop-off rates, and happy attendees.

Organizers can achieve the same goals of their offline events by customizing their Hopin to fit the requirements, whether it's a 50-person recruiting event, a 500-person all-hands meeting, or a 50,000-person annual conference. Hopin is built knowing every event is unique.

The author says, "we're now witnessing the same debate around the virtual event stack that has played out around the full martech stack for several years: the all-in-one, plug and play package versus highly customized, purpose-built stacks. Whichever side of the debate is favored, more consolidation in the virtual event space seems likely this year."
#acquired #events #hopin #platform #streamyard #virtual
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  • Profile picture of the author Matthew Stanley
    Who knows what the new normal will look like, but it seems clear it'll involve more video, and I'm pretty impressed at how Hopin's ridden that trend ($70M annual recurring revenue, 80k organizations, $400M Series C round, $5.65 Billion valuation)

    Personally kind of skeptical of this use case, but going to attend some events to see how "in person" they really feel..
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