Cvent has begun trading on The Nasdaq Global Market under the ticker symbol CVT, following its merger with Dragoneer Growth Opportunities Corp. II
Reggie Aggarwal, Cvent CEO and founder, said: “This is an exciting time for Cvent and our more than 4,000 employees around the world. The closing of our Business Combination and our return to the public markets represents an important inflection point for our company and the industry.
“Organisations around the world want to get back to meeting – whether virtually, in-person, or both with hybrid – and are leveraging technology more than ever to connect with their attendees. We’ve invested heavily in our virtual and hybrid event solutions so that now, no matter how our nearly 21,000 customers want to bring people together, Cvent can help them deliver more engaging, impactful experiences.”
Cvent’s “Business Combination” with Dragoneer values the technology company at around USD$5.3 billion. Cvent, founded in 1999, expects to use $801 million of the capital raised by the deal to accelerate innovation and expand headcount and product offerings, plus deliver on long-term growth objectives.
Christian Jensen, partner at Dragoneer said: “We’re thrilled to support Cvent and would like to congratulate Reggie and the entire team on reaching this incredible milestone. Cvent is an innovative and entrepreneurial pioneer in the enterprise event technology space offering trusted solutions and support to customers as they continue to need robust technology to manage and deliver their in-person, virtual and hybrid events. We look forward to witnessing Cvent’s next phase of growth as a publicly listed company.”