In just a little over every week, the journey metasearch engine Hipmunk will shut down. It’s an abrupt and disappointing finish for a product acquired by SAP Concur round three and a half years in the past.
It didn’t have to go this manner, although. We’re now listening to that Hipmunk co-founders Adam Goldstein and Reddit CEO Steve Huffman (each of whom left Hipmunk in years prior) made a proposal to purchase the corporate again somewhat than have it shut down, to no avail.
As first reported by Skift and confirmed with our personal sources, Hipmunk workers at an all-hands assembly at the moment requested concerning the buyback provide and have been informed it wasn’t going to occur.
Why SAP Concur would choose to close down Hipmunk somewhat than spin it again out isn’t totally clear, although these items are undoubtedly extra sophisticated than the mother or father firm saying “Oh, you need it again? Positive! Take it!”
A number of years post-acquisition, Hipmunk DNA has intertwined with Concur’s to some extent — together with a product for small-to-medium companies straight up known as “Concur Hipmunk” — so there’s presumably curiosity on SAP Concur’s finish in conserving engineers who know all of the related codebases round. Hipmunk additionally had patents that switched fingers within the acquisition (and extra have been permitted post-acquisition), and it’s doable SAP doesn’t wish to let these go. It’s additionally totally possible that the provide got here too late, or simply wasn’t vital sufficient, for a corporation as massive as SAP to slam the brakes and begin detangling issues.
A rep for SAP Concur declined to remark.