
Hopin, once celebrated as Europe's fastest-growing startup and valued at a staggering $7.75B, has entered liquidation. The virtual events company, known for its rapid ascent during the COVID-19 pandemic, benefited from both the pandemic-induced demand for virtual event platforms and a zero-interest-rate policy environment, leading to what many considered an overvaluation. The company's valuation and subsequent downfall have sparked discussions around venture capital practices and the valuation of tech startups. Notably, Hopin's CEO was criticized for selling $100M in shares after the company's valuation peaked, a move now seen by some as prudent in hindsight. The liquidation of its UK parent company coincides with a strategic shift, as Hopin moves its headquarters to Delaware in the US.
Hopin, the struggling virtual events startup valued at $7.75B in 2021, enters liquidation for its UK parent company as it moves its HQ to Delaware in the US (Sifted) https://t.co/GGcja3ofu6 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/RH0uZHaHlO
In my writing, I've frequently reflected on the excess and irresponsibility of venture capital. But few case studies better sum up my grievances with various aspect of the venture capital industrial complex than does the story of Hopin. The first thing I came back to is how… https://t.co/tYqX39uxWU https://t.co/TjfAtLGNXw
If a VC sold their stake in Hopin in that crazy stupid valuation round, they’d be lauded as a great investor / capital allocator Founder did it and dude is vilified 🤔
