I'm excited to share that Hopin has closed on a strategic relationship with RingCentral, a trusted name in global enterprise cloud communications, that involves RingCentral acquiring our Events and Session products. We believe our strengths complement each other perfectly, and together, we can redefine the customer experience in the global Unified Communications as a Service (UCaaS) and Events industries. This is a powerful step forward for Hopin, allowing these products to reach millions more users, and letting us focus on scaling our mission of helping people connect meaningfully beyond geographical boundaries.
Hopin Events and RingCentral
Building Hopin Events in 2018 and launching in 2019, the mission was deeply personal. Forced to remain at home while recovering from debilitating health issues, I understood the need for meaningful connections online beyond physical boundaries, a reality that became even more pertinent in 2020 and beyond. Hopin Events became a beacon of connectivity in this new era. I am incredibly proud of how far we've come and the wave of change we sparked in the industry – hundreds of thousands of events hosted on our platform, facilitating millions of global connections and reshaping the events industry in the process as it became more accessible, engaging, and connective.
While the Hopin Events platform has played a pivotal role in our journey, we recognized that our events business, and the immense talent behind it, could grow to its fullest potential within the RingCentral ecosystem due to its global scale, respected brand, and go-to-market capabilities as a leading UCaaS platform. This strategic relationship merges Hopin’s deep expertise in creating top-tier virtual audience engagement experiences with RingCentral’s global distribution and established portfolio of business communications solutions. Now, Hopin’s unmatched talent and all-inclusive events technology platform will be combined with RingCentral’s powerful multi-product video suite to offer customers unparalleled event experiences, drive growth for both companies, and provide our teams with the resources they need to succeed.
Our customers are always our top priority. Vlad and I want to assure all valued customers of Hopin Events and Session that there will be no disruption to any of your events on any of our platforms during this transition. You can expect full support and commitment from RingCentral and seamless continuity with the Hopin Events team. You can still access your accounts via Hopin.com and we will keep you well-informed ahead of any potential changes that may affect you.
Hopin’s next phase of growth
Looking ahead, Hopin maintains its strong balance sheet, millions of users across our portfolio of products and profitability. We will continue on our relentless quest for disruption and innovation, creating new spaces and enhancing existing ones to better connect people across the globe. In light of this, we’re announcing a few important updates to our company:
First, I am delighted to announce that Badri Rajasekar, our Chief Technology and Product Officer, will transition over the next month to become the new CEO of Hopin. Badri joined Hopin in 2021 as the founder and CEO of Jamm, the foundational product that later became Session. Since then, his role has expanded to have significant operational oversight across large parts of Hopin. Over the years, we have shared a strong common vision for all that Hopin can become. Badri brings a wealth of experience in leadership and an innovative mindset, making him a perfect fit for the role. I am fully confident that under Badri's stewardship, Hopin will continue to dynamically adapt and flourish as we pursue our ambitions. Although I'll be stepping back from day-to-day operations, I am excited to continue to contribute to Hopin’s journey as a member of the board.
Second, we are unveiling the brand and beta access to Superwave, our new community product. We’ve worked with our customers for over two years to solve many of the pain points they experience when they do ‘community’ with their stakeholders. Community is events, discussions, updates, knowledge sharing and so much more and with Superwave, we are centralizing it all in one place for creators and companies to own themselves, with the analytics, moderation, engagement and tracking they need to make their community a success.
Over the past years, we at Hopin have really honed our ability to identify and make strategic shifts to adapt to the rapidly evolving business conditions around the world; we expanded our product offerings, protected and grew our strong balance sheet, and achieved profitability and positive cash flow. Now with Badri as our incoming CEO and a multi-product suite including StreamYard, Streamable, and Superwave, I am even more excited about what the future of Hopin holds. Stay tuned for more updates as we venture into new growth domains and continue to invest in our vision to build the best tools for creators and companies to connect and engage with their audiences through remarkable community experiences.