Private equity firm GPI Capital led the investment, with participation from Glade Brook Capital, WestCap, Goldman Sachs Growth and Accomplice. The investment gives the Montreal-based travel app-makers a valuation of over US$3.5 billion. (The Logic, TechCrunch)
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Private equity firm GPI Capital led the investment, with participation from Glade Brook Capital, WestCap, Goldman Sachs Growth and Accomplice. The investment gives the Montreal-based travel app-makers a valuation of over US$3.5 billion. (The Logic, TechCrunch)
Talking point: Hopper’s meteoric rise—it had a US$2-billion valuation only five months ago—is indicative of the pent-up demand for travel following 17 months of the pandemic. The company says the funds will be used to bulk up its customer support, among other things, and is “actively looking to acqui-hire other teams in travel, data science or engineering-heavy startups.” Though the company has suffered layoffs and customer-service woes, and availed itself of the federal government’s Canada Emergency Wage Subsidy, it nonetheless secured a $170-million investment led by Capital One last March.
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