Stack Capital Holding Hopper Strikes Deal With Uber to Power Domestic & International Flights
TORONTO, May 10, 2023 (GLOBE NEWSWIRE) — Stack Capital Group Inc., (TSX: STCK and STCK.WT) is pleased to announce that Hopper, Inc. (“Hopper”), an existing portfolio holding, has successfully launched a business partnership with Uber Technologies, Inc. (NYSE:UBER), the world’s leading travel platform that helps people, food, and things move through cities.
The new ‘Flights on Uber’ booking functionality, powered by Hopper, will be available to UK app users this summer and further strengthens Uber’s ambition to reimagine the way people travel through the creation of a seamless door-to-door travel platform. As part of the partnership with Hopper, Uber’s UK users will be able to book domestic and international flights directly on the Uber app, and gain access to several of Hopper’s unique peace of mind products to help make air travel stress-free, such as Price Freeze, Flight Disruption Guarantee, Cancel for Any Reason, Change for Any Reason and VIP support.
“This partnership with Uber in the UK clearly illustrates Hopper’s ability to seamlessly integrate its travel inventory and fintech products into any travel ecosystem”, said Jeff Parks, CEO of Stack Capital. “The ‘Flights on Uber’ initiative helps round out Uber’s travel platform in the UK and, at the same time, provides Uber apps users with better choice and flexibility when booking flights – a win/win for both Uber and its app users.”
To access a copy of the Hopper announcement please click here.
About Stack Capital
Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares and Warrants on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the “Manager”) has taken the initiative in creating the Company and acts as the Company’s administrator and is responsible to source and advise with respect to all investments for the Company.
Hopper is the world’s fastest-growing mobile-first travel marketplace, focused on helping customers save money and travel better. The Hopper app has nearly 100 million downloads and continues to capture market share around the world. By leveraging massive amounts of data and machine learning, the company has developed several unique fintech solutions that address everything from pricing volatility to trip disruptions. Through its B2B initiative, Hopper Cloud, the company is syndicating its travel fintech products and inventory, providing companies that aspire to sell travel a differentiated consumer experience and offering. Hopper has increased its revenue 2.5X year-over-year and sells around $6 billion in travel and travel fintech annually. To find out more about Hopper, visit Hopper.com.
Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 10 billion trips later, we’re building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.
For more information, please visit our website at www.stackcapitalgroup.com or contact:
VP, Corporate Development, and Investor Relations
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/99cb264e-45ce-4383-8613-2a452c21d779