The Montreal-based travel app hopes to eventually list on the Toronto Stock Exchange and Nasdaq with a valuation between US$5 billion and US$10 billion, Hopper CEO Frederic Lalonde said, adding that the company must be profitable and on track to make more than US$1 billion in trailing sales before it goes public. (Bloomberg)
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The Montreal-based travel app hopes to eventually list on the Toronto Stock Exchange and Nasdaq with a valuation between US$5 billion and US$10 billion, Hopper CEO Frederic Lalonde said, adding that the company must be profitable and on track to make more than US$1 billion in trailing sales before it goes public. (Bloomberg)
Talking point: Hopper earns revenue through booking commissions, business partnerships and services like guaranteeing prices. It weathered the COVID-19-related downturn in travel and has raised more than US$740 million since its founding in 2007, including from backers like Inovia. In 2022, Lalonde founded direct-air capture startup DeepSky, which secured US$40 million in funding from Bill Gates’s Breakthrough Energy fund in December. Hopper was last valued at US$5 billion in 2022, according to PitchBook data.
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