Web Summit-backed Hopin sells core business to RingCentral as struggles continue

The struggling business has sold its events and sessions business units to the cloud company

Johnny Bourfarhat, founder and chief executive of Hopin, which has sold its core business to RingCentral. Picture: file

Hopin, a virtual events business backed by Web Summit’s Amaranthine Fund, has sold its core business unit to RingCentral, a cloud collaboration business. Hopin has sold its Events and Sessions business units to RingCentral.

The value of the deal has not been disclosed.

Events is the management platform Hopin developed to plan and produce hybrid and virtual events, its key selling point as a business.

Amaranthine was part of a $400 million (€366 million) investment ...