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LinkedIn bets on remote events, investing in $5 billion-plus virtual platform company Hopin

Mount Equity Group Tokyo, Japan > News > Tech > LinkedIn bets on remote events, investing in $5 billion-plus virtual platform company Hopin

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MSFTHopin CEO Johnny Boufarhat.Hopin

Microsoft CEO Satya Nadella laid out his plans in March for a future of hybrid work. Now, his company’s LinkedIn division is wagering that people will continue to convene online even after offices reopen.

Virtual conference technology company Hopin, which was valued at $5.65 billion in a $400 million financing round in March, has just added LinkedIn to its roster of investors. The company told CNBC that LinkedIn invested at that same valuation, buying shares from existing stakeholders. The investment was under $50 million, according to two people familiar with the terms of the deal, who spoke on condition of anonymity to discuss confidential information.

“Virtual events are here to stay,” Scott Roberts, LinkedIn’s vice president of business development, said in a statement. “We recognize our customers use many platforms, so we want to make it easy for them to extend the reach of their live events onto LinkedIn.”

Hopin CEO Johnny Boufarhat said the companies will be collaborating in ways that will bring “immersive experiences” to users of both services. With 756 million members, LinkedIn has near ubiquity among workers in industries like tech, finance, consulting and consumer products, creating an easy place for Hopin to potentially