Is there still hope for Hopin?
The event technology company is facing serious challenges as physical conferences make a comeback
Hopin was a powerhouse among pandemic-fueled companies. During the earlier stages of the COVID-19 pandemic when strict lockdowns and restrictions were in still effect in many parts of the world, the UK-based online conference-hosting platform experienced tremendous growth. As of March 2021, the startup had a $5.65 billion valuation.
While COVID is still around, many things have changed due to vaccines, therapeutics and… a willingness to reopen. Many members of the workforce have gone back to the office and physical events (large and small) have resumed.
Today the company is listing fewer than 500 events (down from 15,000 back in November 2020). It’s a grim reality to say the least.
Let’s be honest: online events can be quite useful but have obvious limitations. They also require different skillsets than their physical counterparts (some of which are in high demand these days).
Is it too late for Hopin to pivot to a different business model / strategy? Perhaps not. Emphasizing its “hybrid” solutions seems to be a logical step.
This story was first published on The PhilaVerse (my Substack newsletter).
