Virtual events platform Hopin has acquired video streaming studio StreamYard for USD$250m.
StreamYard is a browser-based studio that allows users to stream high quality live video directly to social media sites such as Facebook, YouTube and LinkedIn. Hopin will be replacing its own built-in video streaming studio with StreamYard’s moving forwards.
Hopin is an 18-month old virtual event platform which is valued at USD$2.1bn. The platform also acquired mobile app company Topi just three weeks ago.
Hopin CEO Johnny Boufarhat commented: “Both Hopin and StreamYard grew exponentially in 2020. StreamYard’s story is fascinating — two engineers grew a software company to USD$12m, all on their own. In 2020, they built out their team to 19 and that number expanded to over $30m. All bootstrapped. Similarly, Hopin, backed by great investors, scaled from zero revenue and six employees to $30m and 300 employees.
“Over the last 12 months, our businesses drew closer. Hopin customers, such as Search Engine Journal, University of Notre Dame, and Messari loved using StreamYard to produce broadcasts inside their events on Hopin.
“Of the myriad of options that Hopin worked seamlessly with, StreamYard was our customers’ strongest and most preferred solution for their events on Hopin. In fact, the Hopin team found themselves using StreamYard and even recommending that organizers use StreamYard to make their events even more professional and engaging.”