All-in-one event tech platform Hopin has announced a further 29% staff redundancies, in addition to a recent 12%. At its peak, the company was worth $7.8 billion and employed 1,000+ staff. So, what does their dilemma say about the current and future status of event tech?
A Hopin representative cites “…the current macroeconomic climate and need for our events product to move forward efficiently”. They go on to describe the need to simplify and streamline their company structure in order to consolidate and optimise ongoing profitability.
But, with Zoom’s stocks also taking a hefty 71% tumble over the past year, it begs the question if ‘Zoom fatigue’ – or general online platform fatigue – has developed in to full-blown inertia.
Live events are back with a vengeance. Unsurprisingly so, after the long-awaited removal of social restrictions instantly re-ignited sector.
Does this mean the events industry turning its collective back on the tools that sustained the trade in unimaginably innovative ways during the pandemic? Or, will organisers continue to pick and mix between live, hybrid and virtual event solutions on a case-by-case basis?
How will key factors like event sustainability and the cost-of-living crisis influence their choices?
No doubts we’re all watching this space with interest.
At MICE Concierge, we continue to help our amazing corporate and Association clients with their hybrid and virtual event needs, in addition to live events. The technology is breath-taking. But, using it can be a whole different matter. Get in touch with us if you’ve got any questions or need any help with event tech.
