CEO and Founder Reggie Aggarwal delivered an inspirational keynote speech to more than 1,300 event and hospitality professionals at the third annual Cvent CONNECT Europe industry conference in London today. Aggarwal urged attendees, and the MICE industry at large, to embrace their entrepreneurial spirit, uncover new business opportunities, and find ways to capitalise on the growing MICE industry, which is projected to reach 1$1.4 billion by 2025.
Reflecting on Cvent’s 20th anniversary this year, Aggarwal shared an honest account of the path to Cvent’s success. “When I started the company, we had one product, and one vision: Online event registration,” said Aggarwal. “In 20 years, we’ve grown from a handful of people working in my parent’s basement to a company with more than 4,300 employees providing an entire event management platform to planners, marketers, and hoteliers around the world. Our journey has been full of ups and downs, but we are extremely proud of the industry-leading company we have become today, and we’re excited about what the next 20 years will bring.”
Cvent now has more than 27,000 customers and 300,000 users worldwide. Through its cutting-edge technology, the company has powered more than 3.5 million events for some of the most recognised brands in the world and has helped hundreds of thousands of hotels and venues connect with their customers and grow their MICE business. Cvent went public on the New York Stock Exchange in 2013 and went private in a $1.65 billion transaction in November 2016.
In Europe, the company has seen nearly 50% growth and Request-for-Proposal (RFP) value sourced through the Cvent Supplier Network has increased 35% year-over-year highlighting continued MICE growth in the region. Cvent has expanded its headcount across Europe and now has nearly 200 employees to support the local customer base and address the growing demand for meetings and events technology.