Cvent reports revenues up 41% in 2010

Online event management company
Cvent, has announced year-on-year revenue growth of 41 per cent for
2010.

The company claims its
strongest ever Q4 and full-year results come on the back of its acquiring more
than 3,000 new customers and 200 net new employees last year.

Cvent says its growth was
fuelled by a recovering meetings industry and an increased focus by businesses
of all kinds on deploying web-based software to cut costs and boost
efficiency.

“We performed exceptionally
well on all fronts in 2010, as businesses called on Cvent to help them navigate
a ‘new normal’ left by the recession,” said Cvent’s Chief Financial Officer
Thomas Kramer.

“Organisations of all kinds turned to
Cvent’s software to get the most out of their meetings programmes and web survey initiatives. We
continue to set the pace in the industry as we kick off 2011 and are poised to
maintain our rapid growth.”

Cvent reports 49 per cent growth in new
booked business compared to 2009 for the company’s core meeting and event
management product, and the signing of more Fortune 500 clients leveraging
Cvent’s Strategic Meetings Management platform.

Cvent offers profiles of 125,000 venues
worldwide and a Request for Proposal (RFP) tool for subscribers. The company
claims $4 billion worth of group business will flow through its Supplier Network
in 2011.

Cvent claims over 90,000 users in 40
countries.

Do you have a news story for Conference News? Email: pcolston@mashmedia.net

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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