Hopin acquired StreamYard. This StreamYard acquisition may not be extensive news to too many geeks. It may only be relevant if you are a streamer or even a streaming enthusiast. At the same time, it could be of significant interest to those who are watching the streaming sector and seeing how it develops.
Let us find out more about the Streamyard acquisition.
Hopin Acquires StreamYard in 2021
The streaming sector has quite a bit of companies working within it. They are also seeking to work within a few niches as wellto capture a portion of the market. From Amazon to Microsoft and other tech giants, each of these companies seek to bring in and hire specific talent through company acquisitions or regular recruitment.
Indeed, streaming content is taking off in more ways than one from Netflix to Disney + and again, Amazon in addition to smaller competitors. But individual streaming, the kind that takes place on social media, Twitch, and other spaces are aslo seeing an increase in users.
That is why it is no surprise that this StreamYard acquisition or general merger is taking place.
The CEO of Hopin wrote in a blog post that Hopin acquired video streaming platform StreamYard in January 2021. It seems as if the leader of StreamYard started a relationship with the leadership at Hop in 2019.
Vandentop was able to describe StreamYard in a compelling way. But the Hopin CEO saw that Vandentop, the CEO of StreamYard, was compelling as well.
For instance, he notes how he appreciates the extreme focus, the concentration on simplicity, and the value of tackling a large problem that affects a great deal of people in 2021. Vandentop and Briggs made StreamYard in manner that was similar to Hopin.
These industry leaders had similar strategies and goals. For instance, they both sought to disrupt large but stagnant sectors and deploy them in a way that was simple and straightforward.
Both teams held extreme quality as a core component of the way that they would conduct their operations. The simple belief is that a core product, sheer focus, reliability, and fantastic customer support could help to build long-lasting customer relationships.
Indeed, this are the same qualities that Jeff Bezos would implement in Amazon from day one. It is no surprise that Amazon has made it this far with these simple values.
Since they both shared the same vision and growth plans, both teams were able to keep in touch and continue to ensure that everything was aligned.
They were able to talk, share updates, and even follow up with each other during the pandemic. Both of these platforms, Hopin and StreamYard, were able to see significant growth in 2020. The pandemic compelled many people to go online and seek ways to connect with other people in droves. People sought to find ways to continue to live their lives, albeit in a different way. Instead of living it in the physical realm, they would find ways to thrive in the virtual world.
It is no surprise that StreamYard and Hopin were able to see substantial growth over the pandemic timeframe. It is even less of a surprise to see that two engineers were able to build a company that would have a value of $12 million by themselves.
Indeed, the technology boom is going on, and these firms are seeing that they can provide value and tackle complex problems with a lean and agile team.
The StreamYard value continues to grow, and they witness revenue values of $30 million.
What is even more interesting about this platform is that it has been able to do so all on its own. They did not need a venture capital firm or groups of investors to fund them to a state of running their operations feasibly and sustainably.
The firm shows that depending on your industry, you can survive and thrive even throughout the toughest of times.
The StreamYard acquisition shows that a great product, a fantastic team, and meeting the needs of a large market can certainly go a long way.