Covid unicorn Hopin enters liquidation
Tech unicorn Hopin, which was once worth $7.75bn, has entered liquidation less than a year after it sold off its titular events platform.
Tech unicorn Hopin, which was once worth $7.75bn, has entered liquidation less than a year after it sold off its titular events platform.
The London-based company disposed of its technology assets, customer relationships, engineering and go-to-market talent from Hopin’s Events platform and Session Product in August 2023 to California-based RingCentral For a reported $50m.
Following the deal, Hopin remained a separate company with a “vision of building a community suite for creators and influencers”, according to founder Johnny Boufarhat, who stepped down as CEO.
However, a new filing with Companies House has confirmed that Hopin Limited has entered liquidation, with PwC overseeing the process.
Hopin was founded in 2019 with its success culminating in a $400m Series C round in 2021 that left the company with a valuation of $7.75bn.
However, the business struggled after the height of the pandemic and cut hundreds of jobs.
Its latest accounts, for the year to January 31, 2022, are overdue to be filed with Companies House.
PwC declined to comment when approached by City A.M. Hopin did not respond to a request to comment.
