Cvent, the event management technology company, is merging with Dragoneer Growth Opportunities Corp, listed on Nasdaq in the US, in a move which values the company at over $5billion. The company was founded in 1999 and has previously been listed before returning to private ownership.
The funds raised from this latest move – anticipated to be around $800million – will be used for expansion and growth, reflecting the industry pivot to virtual events during the pandemic. The company has a staff of 4,000. Zoom and Fidelity Management are among the equity investors.
