11:49:28 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Goldman Sachs CDR (CAD Hedged)
Symbol GS
Shares Issued 350,000
Close 2023-07-26 C$ 18.15
Market Cap C$ 6,352,500
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Globe says Brookfield Asset-backed Hopper expanding

2023-07-27 08:14 ET - In the News

See In the News (C-BAM) Brookfield Asset Management Ltd

The Globe and Mail reports in its Thursday edition that digital travel services company Hopper is expanding into Brazil. The Globe's Sean Silcoff writes that the Montreal company is already one of Canada's largest, fastest-growing and most valuable technology companies, three years after rebounding from the pandemic, which grounded the travel industry. Last fall, Hopper's valuation topped $5-billion; this year its revenues surpassed $500-million, up from $14-million in 2019. Now it is unveiling the first in what it says is a coming slew of global deals that will build off the success of a partnership with U.S. credit-card issuer Capital One Financial. In this latest deal, Nu Holdings, also known as Nubank, a Sao Paulo-based digital bank with more than 80 million customers in Brazil, is partnering with Hopper to launch a new mobile travel booking portal next year, marking the South American company's entry into the travel category. While Latin America is Hopper's second-biggest market outside North America, it previously had no presence in Brazil. The service will offer bookings for flights, accommodations and vehicles to Nubank clients. Hopper investors include Brookfield, Goldman Sachs and the Caisse pension fund.

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