Hopin’s growth amid Zoom’s fatigue is giving validation to a whole crop of remote-work-focused startups. I see startups in the category sitting in two camps: Either you’re betting that users want a more passive way to interact with video or you’re betting that users want a more active way to interact with video.Tech Crunch
Hopin is a platform for virtual events that plan to take the virtual meeting world by storm with a fast-rising growth from its last $2.1 billion valuations. Just slightly a year old, it has managed to increase its Annual Recurring Revenue (ARR) to $20 million in three-quarters of a year. Additionally, it has taken up two businesses: StreamYard, $250 million, and another. These two are to help Hopin differentiate its business.
Hopin’s growth has been an inspiration to other remote-work startups like Rewatch, which allows startups to archive video conferencing meetings and turn live meetings into transcribed documents so that employees can go through them at any time. Another company that has drawn inspiration from Hopin is Teamflow, which believes that employees want more live moments. Therefore, it creates a virtual space for companies to the productivity of a workplace.
Since Hopin is about active and passive virtual interactions, these two companies can easily borrow from it, unlike Zoom, which they view as a competitor. Seeing where we are headed technology-wise, a lot of preference will be on Hopin.