2021 sales: $2 billion
Previous ranking: Not ranked
Employees: 877
5795 Ave. de Gaspe, Suite 100
Montreal, Quebec H2S 2X3, Canada
Phone: (514) 276-0760
Website Executives
CEO/FOUNDER: Frederic Lalonde
CO-FOUNDER: Joost Ouwerkerk
CHIEF STRATEGY OFFICER: Dakota Smith
CFO: Daniel Calderon
GENERAL COUNSEL/HEAD OF CORPORATE DEVELOPMENT: Brian Carroll
GM, FINTECH: Ella Alkalay Schreiber
Company facts
* Direct sales to consumers in the Hopper app and B2B sales in Hopper Cloud.
* Price-monitoring tool notifies users of good airfare deals.
* Privately held company. Investors include Omers Ventures, Capital One, GPI Capital, Glade Brook Capital, WestCap Capital, Goldman Sachs Growth, Accomplice, Brookfield Capital, Inovia Capital, Brightspark Ventures, Citi Ventures.
2021 developments
* Further grew the sales of Price Freeze, Cancel for Any Reason and Flight Disruption Guarantee, which the company calls its fintech products. 50% increase in customers buying Hopper's Cancel for Any Reason and Flight Disruption Guarantee during the peak of the omicron variant. Almost 60% of app customers purchase at least one fintech product when making a booking, resulting in customers spending an additional $40-plus per travel booking.
* Closed the year with 300% revenue growth year over year, following 100% growth in 2020.
* According to Apptopia, Hopper surpassed Airbnb in active U.S. users.
* The Hopper Cloud B2B initiative launched in early 2021. Through this partnership program, any travel provider can integrate and distribute Hopper's fintech or travel agency content. Additionally, Hopper Cloud offers white-label travel portals for companies. To date, Hopper Cloud clients include Capital One, Amadeus, Kayak, Trip.com, Marriott, MakeMyTrip and Air France-KLM.
* In 2019, 99% of Hopper's revenue came from flight bookings. Today, nearly 50% of Hopper's revenue comes from fintech products, and 15% comes from Hopper Cloud. 30% comes from hotel and car rental bookings.
* Acquired activities/tours platform PlacePass and acquired the intellectual property of Journy, a trip-planning service.
* Added short-term home rentals to its app.
* In March 2021, closed its Series F round of $170 million led by Capital One. Then in August, closed its Series G round of $175 million led by GPI Capital. The company's latest valuation is $5 billion.
Looking ahead
* Hopper grew its year-over-year revenue by 300% in 2021, and it currently projects 2022 revenue will be 30 times over 2019.
* Consumers, especially the younger demographic that make up Hopper's user base, are traveling and willing to spend their savings on trips. Hopper is intent on becoming a "travel super app," having the capability of meeting all the needs of people planning a trip.
NOTE ABOUT HOPPER'S RANKING: Some Power List companies
have resubmitted their numbers, which have resulted in changes in the
rankings. Read more about those changes.