Cvent made another acquisition to expand on its platform offerings.
The Tysons-based event management platform has acquired San Fransisco-based Wedding Spot, a wedding venue sourcing platform. This acquisition will add Wedding Spot’s more than 12,000 special event venues and hotels to Cvent’s portfolio. The financial terms of the deal were not disclosed.
Just announced! @weddingspot is now part of Cvent! We’re thrilled to welcome more Cventers to our growing team! 💙https://t.co/IZSFShI8So #CventNation #MandA pic.twitter.com/CZnKk5GlyJ
— Cvent (@cvent) May 22, 2019
Founded in 2013, Wedding Spot curates a platform for businesses to attract wedding events by connecting its clients with couples looking for venues. Couples are able to compare venues within the Wedding Spot platform using an estimate feature. Wedding Spot joins Cvent’s network under the Cvent Hospitality Cloud which gives its clients group marketing, sales and operation solutions, according to a press release.
“Cvent has led the digital transformation of the meetings and events industry, and we are thrilled to continue the Wedding Spot journey with them,” Yotam Soen, general manager of Wedding Spot, said in a statement. “Cvent continues to find new and better ways to bring event buyers and venues together, which aligns with our mission at Wedding Spot. We’re looking forward to continuing to work with all of our customers as part of Cvent.”
The Washington Business Journal reported that Cvent will open a San Francisco office, where the 20 Wedding Spot employees will be based. This seems like a different path from when Cvent acquired Social Tables, a Washington, D.C.-based events planning software company, in October 2018. The company allowed Social Tables to continue operating independently out of its D.C. headquarters post acquisition.
“With Wedding Spot, we can offer new ways for our hospitality customers to tap into the $100 billion wedding industry while also expanding our venue sourcing options with thousands of unique special event venues across the United States,” Reggie Aggarwal, CEO and founder of Cvent, said in the news release.
This announcement comes after Cvent released its plan to hired 1, 000 more employees this year across its global locations, just as it did in 2018. The company also recently expanded its Tysons office space, adding 72, 000 sq. ft. of space.
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