Meetings management titan Cvent in July announced that it planned to go public during the fourth quarter of 2021 via a merger with special purpose acquisition company Dragoneer Growth Opportunities Corp. II.
Cvent, founded in 1999, had been public once before but Vista Equity Partners took it private in 2016 when it bought the company for $1.65 billion.
With the SPAC, other companies can invest in Cvent at $10 per share, a figure that values the company at $5.3 billion and could provide about $800 million in cash. Among those investors are Fidelity Management & Research Co., Hedosophia, Oaktree Capital Management and virtual conferencing giant Zoom Video Communications.
Cvent founder and CEO Reggie Aggarwal spoke with BTN in late November and says the company planned to be listed on the Nasdaq exchange the morning of December 9.
He also talked about the benefits of going public and the future of the meetings industry. The conversation has been…
#featured #travelnews