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Software for events, conferences, and meetings
Cvent, Inc.is a privately heldsoftware-as-a-service(SaaS) company that specializes in meetings management technology. The company offers web-based software for meeting site selection, online event registration,event managementemail marketing, and web surveys.The company is owned by private equity firmVista Equity Partners.
Cvent was founded in September 1999 by Reggie Aggarwal. That same year it received $17 million inventure capitaland grew its staff to 125 employees. Following thedot-com bubbleburst and theSeptember 11 attacks, Cvent faced near-bankruptcy and was forced to cut 80% of its staff.
The company became profitable again by 2003. In 2011, Cvent was growing by 50% a year and received $136 million of funding fromNew Enterprise Associatesin July 2011, which, at the time, was the largest investment in a U.S. software company since 2007.
In 2012, the firm entered the mobile market by acquiring two event application developers. On June 13, it announced acquisition ofAustin-based startup Seed Labs, recentlyrebrandedas CrowdTorch, for $4.2 million.Seven days later, it announced its acquisition ofPortland-based application developer CrowdCompass for $10 million.CrowdTorch develops mobile applications for consumer-oriented events and CrowdCompass develops mobile applications for business-related events.Cvent filed an S-1 with theU.S. Securities and Exchange Commissionon July 8, 2013, proposing aninitial public offeringof 5.6 million shares.It went public on theNew York Stock Exchangeon August 9, 2013,at an initial price of $21.The company raised $117.6 million and received amarket capitalizationof more than a billion dollars. The IPO was referenced in regards to its use of theJOBS Act, which enabled the company to quickly offer an IPO.
In 2016, the company was acquired by venture capital company Vista Equity Partners for $USD 1.65 billion.
In July 2000 Cvent introduced its firstSaaSproduct, a web-based tool for event planners to manage invitations and collect registration fees.In 2006, it introduced a product for conducting online surveys,which was followed by the introduction of the Cvent Supplier Network two years later. The Supplier Network is a free, online marketing place that connects meeting planners with venues and services.In 2009, the company began offeringprofessional services.
An app development tool, CrowdTorch, was launched in 2009.Cvent also produces a Destination Guide, a free, online, 8,000-page travel guide designed for meeting planners with information about 800 different destinations.A Strategic Meetings Management helps users manage budgets.
Event Management Giant Cvent Scoops Up Seed Labs To Help It Go Mobile.
There And Back Again How Cvents Founder Stood By His Company, For Better Or Bankruptcy.
The Daily Start-Up: NEA, Insight Lead Mega-Round For Cvent.
Venture investments grow in 3Q from last year.
With a pair of acquisitions, Cvent expands into mobile.
After Seed Labs, Cvent Snags CrowdCompass For $10M To Double Down On Mobile Event Apps.
Cvent Unveils Estimated Terms of Planned IPO of 5.6 Million Shares.
After months of government scrutiny, $1.65B Cvent acquisition is finalized.
For Cvent, recent months a mix of ups and downs.
How Reggie Aggarwal turned Cvent into a success.
Cvent launches event venue directory and RFP management system.
Cvent launches new edition of Destination Guide.
Cvent Targets Strategic Meetings Management.
Creative Group selects Cvent as strategic meetings management technology partner.
Companies based in McLean, Virginia
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This page was last edited on 18 January 2018, at 04:24.