Travel recommendation app Hopper might be considered the new kid on the block, with downloads and usage growing rapidly in 2021 with the introduction of fintech products aimed at providing more flexibility and security to customers.
While it has gained traction in the past year, Hopper has actually been around for close to a decade. It started as travel tool similar to TripAdvisor, in which users could search for a place or activity and check out reviews from the web.
The team working on Hopper spent six years building this database in stealth, launching Hopper.com in 2014. Hopper CEO Frederic Lalonde had previously sold a travel startup to Expedia in 2002.
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DOWNLOADWith all of this valuable data on places and trips, Hopper was well placed to add other features such as flight and hotel bookings. Flights were predominately what the app was known for, as it build a cost prediction tool that could forecast with high accuracy the cost of a flight up to a year in advance.
During the coronavirus pandemic, Hopper added a whole host of new features aimed at providing customers with more price security and flexibility. These features included a cancel or change flight for any reason, a flight disruption guarantee, and a price freeze tool.
According to Hopper, in 2022 over 60 percent of users took advantage of at least one of these features when booking a flight or hotel on the app.
These fintech products have been crucial to Hopper’s revenue growth, and have also been well-received by users. In 2021, Hopper was the most downloaded travel app in the United States and Canada.
It has also added rental cars and homestays onto its platform, to compete with Airbnb and Vrbo.
We have collected data and statistics on Hopper. Read on below to find out more.
Hopper Key Statistics
- Hopper generated $500 million revenue in 2022, a 233% increase on the previous year
- Bookings also increased rapidly last year, from $1.1 billion to $4.5 billion
- Hopper had 40 million users in 2022, an 60% increase on 2021 figures
- The app was downloaded 15.2 million times in 2021
Travel App Report 2023
Want to learn more about the travel app industry? In our Travel App report, we cover financials, usage, downloads, and demographics by age and gender, alongside market share, and benchmarks.
Hopper Overview
| Title | Title 2 |
|---|---|
| Launch date | March 2007 |
| HQ | Montreal, Canada |
| People | Frederic Lalonde (CEO, co-founder), Dakota Smith (President), Sebastien Rainville (Director Software Engineering, co-founder) |
| Business type | Private |
| Industry | Travel |
Hopper Revenue
Hopper made $150 million revenue in 2021, with a large percentage of that growth coming from its flexibility and security add-ons.
Hopper annual revenue 2019 to 2021 ($mm)
| Year | Revenue ($mm) |
|---|---|
| 2019 | 45 |
| 2020 | 40 |
| 2021 | 150 |
| 2022 | 500 |
Source: Forbes
Hopper Bookings
Hopper’s annual bookings reached $4.5 billion in 2021, with 30% of that coming from its fintech products.
Hopper annual bookings 2017 to 2021 ($bn)
| Year | Bookings ($bn) |
|---|---|
| 2017 | 0.4 |
| 2018 | 0.5 |
| 2019 | 0.8 |
| 2020 | 0.6 |
| 2021 | 1.1 |
| 2022 | 4.5 |
Sources: Stack Capital, Skift
Hopper Users
Hopper had an estimated 25 million users in 2021, which have accessed the app once in the year.
Hopper annual users 2018 to 2021 (mm)
| Year | Users (mm) |
|---|---|
| 2018 | 11 |
| 2019 | 15 |
| 2020 | 10 |
| 2021 | 25 |
| 2022 | 40 |
Note: User estimate pulled from annual bookings and annual downloads
Hopper Downloads
Hopper was downloaded 12.5 million times in 2021, with the vast majority of downloads happening in the US.
Hopper annual downloads 2018 to 2021 (mm)
| Year | Downloads (mm) |
|---|---|
| 2018 | 7.7 |
| 2019 | 6.7 |
| 2020 | 4.4 |
| 2021 | 12.5 |
| 2022 | 15.2 |
Sources: AppMagic, Appfigures
Hopper Valuation
Hopper was valued at $5 billion in its most recent funding round with Drive Capital, Stack Capital Group, Goldman Sachs and others participating in the round.
Hopper valuation 2018 to 2022 ($bn)
| Year | Valuation ($bn) |
|---|---|
| 2018 | 0.78 |
| 2021 | 3.5 |
| 2022 | 5 |
Source: TechCrunch
Hopper vs competitors: US market share
Hopper FAQ
How many price points does Hopper check everyday?
According to Hopper’s press page, it checks 30 billion price points everyday to ensure its prediction tool is as accurate as possible
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