Hopin, a virtual events platform valued at $7.75B during COVID, sold its Events product for $15M in 2023 after in-person events returned. The company's core use case disappeared when COVID restrictions ended, destroying 99.8% of its peak valuation.

How much did Hopin sell for?

Hopin sold its Events product to RingCentral in 2023 for approximately $15M. At its COVID peak in 2021, Hopin was valued at $7.75B — representing a 99.8% value destruction.

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// HALL OF FLAME · STARTUP AUTOPSY

Founded	2019
Closed	2023
Country	USA
Sector	SaaS
Total raised	$1B
Collapse type	Fire Sale
Founder	Johnny Boufarhat

Hopin

"Virtual events unicorn. $7.75B during COVID. Events returned. Hopin sold for $15M."

$1000M

RAISED

800

EMPLOYEES

MONTHS

timingFire Sale

Distressed acquisition below last-round valuation

// Fatal mistake: Demand Collapse

Key Events Timeline

2021-06

FUNDING

Raises $450M at $7.75B valuation. 800 employees in 18 months.

2022-02

LAYOFF

Post-COVID demand collapses. Three rounds of layoffs: 12%, 29%, then 50%.

2023-06

ACQUISITION ATTEMPT

Sells core business to RingCentral for $15M. From $7.75B to $15M in 24 months.

🔥 Hall of Flame 90%🏆 Hall of Fame 10%

Hopin, a virtual events platform, raised $1B and reached $7.

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// THE SAAS GRAVEYARD DOESN'T END HERE

Hopin followed a documented pattern. Identify the same signals in any company before they reach the point of no return.

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