TORONTO, CANADA, February 2, 2022 - Stack Capital Group Inc., ("Stack Capital") (TSX: STCK and STCK.WT) is pleased to announce that it has committed to invest $6 million USD into Hopper Inc. (“Hopper”) - the world’s fastest-growing AI-powered travel tech platform which strives to help consumers save money with more flexibility.
Hopper has quickly become the #1 travel app downloaded in the US and, at the same time, grown its market share to solidify itself as one of the largest online travel providers. While many of its competitors experienced a significant reduction in revenue during the pandemic, Hopper generated triple-digit growth by creating a transparent travel marketplace using unique, data-driven, and industry-leading fintech products such as Refundable and Flexible Tickets, Cancel for any Reason, Price Reduction, Price Drop Guarantee, and Price Freeze – all of which provide travelers with peace of mind. Hopper has also built out a B2B solution, enabling key partners such as Capital One, Kayak, and Trip.com to gain access to its proprietary fintech product offerings under the Hopper Cloud brand. Recognized as one of the world’s most innovative businesses by Fast Company, the Hopper app has been downloaded over sixty-six million times and generates over one million new installs each month.
“Travel and leisure will undoubtedly be an extremely attractive sector coming out of the pandemic and Hopper is poised to capitalize on pent-up consumer demand,” said Jimmy Vaiopoulos, CFO of Stack Capital. “In a world where travelers demand increased flexibility and the lowest costs, Hopper’s suite of fintech offerings and easy-to-use app have resonated with consumers. As a one-stop solution for flights, hotels, car rentals, and now short-term home rentals - we believe the outlook for Hopper is extremely bright.”
To access Stack’s investment overview on Hopper, along with any of its other portfolio investments, please click here.
About Stack Capital
Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to a diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares and Warrants on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the "Manager") has taken the initiative in creating the Company and acts as the Company's administrator and is responsible to source and advise with respect to all investments for the Company.
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