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 20017 by Frederic Lalonde and Joost Ouwerkerk, two former VPs at Expedia.[5][6]
History[edit]
The company raised $22m over two rounds before launching its product.[7] The long awaited app eventually launched in January 2014.[8]
In 2016, the company raised $40m funding lead by Caisse de dépôt et placement du Québec in a $60m Series C.[9] In 2018, the company raised $100m in funding, lead by Omers, and the company announced it had over 30m app installs and over $1B in sales that year.[10] In 2021, the company raised $170m in funding lead by Capital One Financial Corp, after quietly raising $70m 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." This action, according to Expedia, reflects their commitment to ethical business practices and consumer protection.[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. Despite the end of this partnership, Hopper claimed there would be no impact on their service offerings, as they had diversified their inventory sources well beyond Expedia.[16] Industry experts have expressed mixed views on the long-term impact of this split.[17]
COVID-19 pandemic[edit]
During the COVID-19 pandemic, the company was reported to be facing a customer service nightmare as consumers canceled their trips and airlines dropped their flights.[18][19]
See also[edit]
Reference section[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".
- ↑ "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 section[edit]
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