Hopper (company)
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Hopper is a mobile only travel app that predicts flight and hotel prices and enables users to place bookings.[1][2] As of 2021, Hopper focuses on financial products and services.[3][4] Based in Cambridge, Massachusetts, the company was founded in 2007 by Frederic Lalonde and Joost Ouwerkerk, two former VPs at Expedia.[5][6]
History[edit]
The company raised $22 million over two rounds before launching its product.[7] The long-awaited app eventually launched in January 2014.[8]
In 2016, the company raised $40 million in funding led by Caisse de dépôt et placement du Québec in a $60 million Series C.[9] In 2018, the company raised $100 million in funding, led by Omers, and announced it had over 30 million app installs and over $1 billion in sales that year.[10] In 2021, the company raised $170 million in funding led by Capital One Financial Corp, after quietly raising $70 million the year before.[11][12][13]
In 2021, Hopper introduced last-minute hotel booking.[14]
In July 2023, Expedia Group announced the termination of its hotel and vacation rental supply relationship with Hopper, citing concerns that Hopper's product features "exploit consumer anxiety and confuse customers."[15] Hopper responded by alleging that Expedia's decision was motivated by competitive threats posed by Hopper's growth in direct-to-consumer market share and its fintech innovations.[16]
COVID-19 Pandemic[edit]
During the COVID-19 pandemic, the company faced a customer service nightmare as consumers canceled their trips and airlines dropped their flights.[17][18]
References[edit]
- ↑ https://www.fastcompany.com/company/hopper
- ↑ "This app will change the way you book flights". Business Insider.
- ↑ "Online Travel Hopper's Metamorphosis from Flight Selling to Fintech". 17 August 2021.
- ↑ "Travel booking behemoth Amadeus is partnering with travel app developer Hopper, adding fintech offerings to product line". CNBC. 27 July 2021.
- ↑ "The story behind Hopper, one of the fastest-growing travel apps ever | Built in Boston".
- ↑ "Hopper Out to Disrupt $800 Billion Global Online Travel Market". Forbes.
- ↑ "Hyped Travel Startup Hopper Does Everything, Except Actually Launch". 20 August 2013.
- ↑ "Why Travel Startup Hopper, Founded in 2007, Took So Long to "Launch"". 20 January 2014.
- ↑ https://financialpost.com/news/fp-street/montreals-caisse-sees-potential-unicorn-in-airfare-app-hopper-makes-40-million-bet-on-company
- ↑ "Hopper raises $100M more for its AI-based travel app, now valued at $780M". 3 October 2018.
- ↑ "Hopper raises $175M at $3.5B+ valuation as travel surges and its fintech tools help offset variant concerns". 17 August 2021.
- ↑ https://montrealgazette.com/business/local-business/montreals-hopper-raises-us170-million-looks-to-double-workforce-this-year
- ↑ "Former Expedia VP's Startup Hopper Travel App Reaches Unicorn Status". Bloomberg. 24 March 2021.
- ↑ "Hopper Introduces Last-minute Hotel Booking Feature with Deals on Spur-of-the-moment Getaways".
- ↑ https://www.skift.com/news/expedia-group-announces-ugly-split-with-hopper
- ↑ "Home".
- ↑ "Unicorn travel startup Hopper is facing a pandemic-fueled customer service nightmare". 18 December 2020.
- ↑ "Customer complaints pile up against travel-tech darling Hopper". March 2021.
External links[edit]
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