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For years the conventional wisdom has been that people won’t research and buy a complex product like airfare on smartphones. But that assumption may no longer be true.
Hopper, the airfare prediction App, says it is now processing USD 1 million in flights a day.
That’s a rapid rise for the mobile-only company, based in Montréal and Cambridge, Mass., given that it only started selling flights in September 2015.
Hopper's CEO was speaking at 2016 Phocuswright Conference
Airlines compensate Hopper for sales. Since January 2016, the startup’s sales and revenue volume grew about 2,300%, it says.
That gives context to the news on Thursday that the company has raised about C$ 82 million of equity financing in a Series C round. That total includes a convertible note worth about C$ 16 million that was publicized earlier this year and that has now has converted to equity. Tnooz is estimating this at about USD 50 million in fresh funding.
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