|
|
Type
|
Private |
---|---|
Industry | Software for events, conferences, and meetings |
Founded | 1999 |
Founder |
|
Headquarters | Tysons Corner, Virginia, United States |
Key people
|
Reggie Aggarwal (CEO) |
Owner | Vista Equity Partners |
Number of employees
|
2,500+ |
Website | www.cvent.com |
Cvent, Inc. is a privately held software-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 management, email marketing, and web surveys. The company is owned by private equity firm Vista Equity Partners.
Cvent was founded in September 1999 by Reggie Aggarwal. That same year it received $17 million in venture capital and grew its staff to 125 employees. Following the dot-com bubble burst and the September 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 from New Enterprise Associates in 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 of Austin-based startup Seed Labs, recently rebranded as CrowdTorch, for $4.2 million. Seven days later, it announced its acquisition of Portland-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 the U.S. Securities and Exchange Commission on July 8, 2013, proposing an initial public offering of 5.6 million shares. It went public on the New York Stock Exchange on August 9, 2013, at an initial price of $21. The company raised $117.6 million and received a market capitalization of more than a billion dollars. The IPO was referenced in regards to its use of the JOBS Act, which enabled the company to quickly offer an IPO.
In 2016, the company was acquired by venture capital company Vista Equity Partners for $USD1.65 billion.
In July 2000 Cvent introduced its first SaaS product, 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 offering professional 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.
2016-05-09 | Downgrade | JMP Securities | Outperform to Market Perform | |
2016-04-19 | Downgrade | Needham & Company LLC | Buy to Hold | |
2016-04-19 | Downgrade | William Blair | Outperform to Market Perform | |
2016-04-18 | Downgrade | Stifel Nicolaus | Buy to Hold | |
2016-04-08 | Initiated Coverage | William Blair | Outperform | |
2016-02-23 | Lower Price Target | Needham & Company LLC | Buy | $38.00 to $30.00 |
2015-12-08 | Boost Price Target | Pacific Crest | Overweight | $35.00 to $43.00 |
2015-09-10 | Downgrade | Morgan Stanley | Equal Weight to Underweight | $29.00 |
2015-07-07 | Initiated Coverage | JMP Securities | Outperform | $36.00 |
2014-05-15 | Reiterated | Stifel | Buy | $45 to $40 |
2014-05-15 | Reiterated | Needham | Buy | $48 to $38 |
2014-05-15 | Lower Price Target | Goldman Sachs | $43.00 to $37.00 | |
2014-05-15 | Lower Price Target | Pacific Crest | Outperform | $46.00 to $30.00 |
2014-05-15 | Lower Price Target | Needham & Company LLC | Buy | $48.00 to $38.00 |
2014-05-15 | Reiterated Rating | Stifel Nicolaus | Buy | $45.00 to $40.00 |
2013-09-17 | Boost Price Target | Pacific Crest | Outperform | $40.00 to $46.00 |
2013-09-17 | Boost Price Target | Stifel Nicolaus | Buy | $41.00 to $45.00 |
2013-09-03 | Initiated | Needham | Buy | $42 |
2016-05-09 | Downgrade | JMP Securities | Outperform to Market Perform | |
2016-04-19 | Downgrade | Needham & Company LLC | Buy to Hold | |
2016-04-19 | Downgrade | William Blair | Outperform to Market Perform | |
2016-04-18 | Downgrade | Stifel Nicolaus | Buy to Hold | |
2016-04-08 | Initiated Coverage | William Blair | Outperform |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In CVT 55 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
VISTA EQUITY PARTNERS III, LLC | 0.40B |
Dragoneer Investment Group, LLC | 12.55M |
Capital Research Global Investors | 10.00M |
FMR LLC | 5.78M |
OAKTREE CAPITAL MANAGEMENT LP | 4.00M |
BlackRock Inc. | 3.38M |
Blackstone Group L.P. | 3.00M |
RIMA SENVEST MANAGEMENT, L.L.C. | 1.28M |
GEODE CAPITAL MANAGEMENT, LLC | 1.20M |
Vanguard Group, Inc | 1.13M |
STATE STREET CORP | 1.08M |
GAM Holding AG | 0.64M |
JACOB ASSET MANAGEMENT OF NEW YORK LLC | 0.51M |
SCHWAB CHARLES INVESTMENT MANAGEMENT INC | 0.42M |
NORTHERN TRUST CORP | 0.40M |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
Insight Venture Associates VII, L.P. | 12.90% (5454727) | CVT / |
Insight Venture Partners VII, L.P. | 9.76% (4125810) | CVT / |
NEW ENTERPRISE ASSOCIATES 13 LP | 9.45% (3994106) | CLVS / CRCM / CVT / EPZM / GLYC / HIVE / ROKA / TSRO / |
BANSAL SANJU K | 5.74% (2428236) | ABCO / CSRA / CVT / MSTR / |
Aggarwal Rajeev K. Chief Executive Officer | 4.71% (1991533) | CVT / |
Lieberman Jeffrey | 4.34% (1837118) | CVT / SSTK / |
Aggarwal Manjula SVP, Client Services | 1.57% (663098) | CVT / |
Quattrone David C. Chief Technology Officer | 1.57% (662980) | CVT / |
Sye Dwayne J. Chief Information Officer | 0.95% (399926) | CVT / |
Ludwig Brian SVP, Sales | 0.44% (186028) | CVT / |
Malhotra Bharet SVP, Sales | 0.29% (122766) | CVT / |
Ghoorah Charles V. EVP, Sales & Marketing | 0.19% (81592) | CVT / |
RUSSO CYNTHIA A Chief Financial Officer | 0.08% (32508) | CVT / MCRS / PAR / |
Samuelson Lawrence General Counsel, Corp. Secy. | 0.04% (16403) | CVT / |
PARKER KEVIN T | 0.03% (13964) | CVT / PLCM / |
Childs Peter L Chief Financial Officer | 0.01% (5500) | CVT / |
BARRETT M JAMES | 0.01% (2639) | ADNC / ARDX / CLVS / CRCM / CVT / DATA / ECHO / EPZM / FOLD / GLYC / HIVE / HPTX / INWK / LOXO / ROKA / SNSS / SUPN / SURF / SYBX / TRGT / TSRO / VTAE / WIFI / XOOM / ZSAN / |
BARRIS PETER J | 0.01% (2639) | ABIO / ADNC / AKAO / ARDX / AVEO / CLVS / CRCM / CVT / DATA / ECHO / EPZM / GLYC / GRPN / HIVE / HPTX / INWK / LOXO / ONTY / ROKA / SNSS / SUPN / SURF / SYBX / TRGT / TSRO / VTAE / WIFI / XOOM / ZHNE / |
SANDELL SCOTT D | 0.01% (2639) | ABIO / ADNC / AKAO / ARDX / AVEO / CLVS / CRCM / CVT / DATA / ECHO / EPZM / FIO / GLYC / HIVE / HPTX / INWK / LOXO / ONTY / ROKA / SNSS / SUPN / SURF / SYBX / TRGT / TSRO / VTAE / WDAY / WIFI / XOOM / |
BASKETT FOREST | 0.01% (2639) | ABIO / ADNC / AKAO / ARDX / AVEO / CLVS / CRCM / CVT / DATA / ECHO / EPZM / FIO / HIVE / HPTX / INWK / LOXO / ONTY / ROKA / SNSS / SUPN / SURF / SYBX / TSRO / XOOM / |