TORONTO, Feb. 2, 2022
/CNW/ - Stack Capital Group Inc. ("Stack Capital") (TSX: STCK)
(TSX: 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. 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.
For more information, please visit our website at
www.stackcapitalgroup.com
SOURCE Stack Capital Group Inc.