Hopper eyes $10b IPO
Travel data provider Hopper is eyeing an initial public offering that its founder believes could value the company at up to $10 billion
Montreal-based Hopper uses advanced data analytics to predict prices for flights, hotels and car rentals, and helps customers lock in future prices for a fee. It stands out as one of the most downloaded travel apps in North America, particularly popular with millennials and Generation Z.
Key takeaways
- Hopper offers a business-to-business service that uses its data and artificial intelligence to enhance travel booking platforms for companies such as Capital One Financial Corp;
- The company employs about 650 remote workers worldwide. Its algorithms, developed through years of travel data, have become a significant competitive advantage, according to CEO Frederic Lalonde;
- While Hopper generates revenue through commissions on travel bookings and services such as price guarantees, the majority of its revenue now comes from corporate partnerships.
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