Hopper, a Montreal-based company, is a “mobile-first travel marketplace” that facilitates flight, hotel, car and home rentals. Persevering through setbacks caused by the COVID-19 pandemic, Hopper recently secured $96 million USD ($130 million CAD) in equity funding from Capital One in order to expand its business-to-business (B2B) functionality and help the company move into the social commerce sphere. Hopper president, Dakota Smith, commented that the round valued Hopper at over $5 billion USD.
Capital One’s recent deal with Hopper extended the length of their existing strategic partnership. In 2021, Capital One led Hopper’s $170 million USD Series F round and last year, Capital One became the first and “keynote” client of Hopper’s B2B business, Hopper Cloud, for the purpose of launching Capital One Travel.
Hopper Cloud allows travel providers to integrate and distribute Hopper’s content. It has been reported that Hopper Cloud has grown four times over the past six months and is predicted to generate more income than Hopper’s entire business during 2021.
Authors
Expertise
Insights
-
Financial Services Regulatory
Canadian Securities Administrators Extend Compliance Deadline in Interim Approach to Value-Referenced Crypto Assets
On April 17, 2024, the Canadian Securities Administrators (CSA) provided an update to their interim approach in respect of “Value-Referenced Crypto Assets” (VRCAs), as set out in the CSA’s guidance in… -
Financial Services Regulatory
Obligations and Opportunity - Budget 2024’s Impact on the Blockchain Industry
As crypto-assets become subject to further regulation both domestically and globally, industry players find themselves presented not only with new obligations but also with new opportunities. Canada’s… -
Technology
Empowering Women in Tech: RBCx Mentor Meetups Returns for its Second Edition
As reported by BetaKit, Royal Bank of Canada’s technology and innovation department takes another step in championing women in tech with the launch of the second edition of their mentorship… -
Technology
U.S. Justice Department Files Antitrust Lawsuit Against Apple
On March 21, the U.S. Justice Department, in collaboration with 16 other state and district attorneys general, filed an antitrust lawsuit against Apple.The lawsuit alleges that Apple has engaged in… -
Technology
Spotify Tests Educational Content on Platform
Spotify, a music, podcast, and audiobook streaming platform, is now venturing into e-learning. The platform will be providing its users with video-based courses by partnering up with educational tech… -
Technology
TikTok: Time is Running Out
TikTok has exploded in popularity with 170 million users in the United States (“US”). For context, at least one in three Americans access the application, and according to a 2022 Pew Research Center…