US-headquartered cloud-based event management platform, Cvent, has filed a registration statement with the US Securities and Exchange Commission relating to the proposed initial public offering (IPO) of its common stock.
The number of shares to be sold and the price range for the proposed offering have not yet been determined.
Morgan Stanley & Co. and Goldman, Sachs & Co. will act as joint book-running managers for the offering. Stifel, Nicolaus & Company, Pacific Crest Securities, and Needham & Company will act as co-managers.
In related company news, the Cvent Supplier Network will be used to support more than two million room nights for Experient’s association, tradeshow and government clients.
Experient, a subsidiary of meeting, event and incentive travel programme provider, Maritz Travel, has selected Cvent’s hotel sourcing platform for preferred use with its clients.
Through this agreement, Experient is expected to source more than two million hotel room nights annually through the Cvent Supplier Network, an industry-leading online marketplace, connecting meeting and event planners with more than 200,000 hotels and other venues globally.
“Experient is one of the largest full-service third party planning organisations and its recent acquisition by Maritz Travel has enabled Cvent to significantly expand its portfolio of meeting planner customers to include new corporations, associations and the government,” said Chuck Ghoorah, Co-founder and Executive VP of Sales and Marketing at Cvent.
Cvent and Maritz Travel began their engagement in 2011, and in 2012, Maritz Travel successfully completed the acquisition of Experient.
“Cvent’s platform has proven to be a valuable resource to our planners,” said David Peckinpaugh, CMP, President of Maritz Travel and Experient. “In the two years that Maritz Travel has used Cvent’s platform, this unique solution has been beneficial to our business and we look forward to providing the same level of service to our association, tradeshow and government clients under the Experient umbrella.”
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