“Cvent and Social Tables are natural partners,” Social Tables CEO and founder Dan Berger told Technical.ly. “We’re both D.C.-born, entrepreneurial and disruptive in spirit, and intently focused on growing our businesses which benefits our employees, customers and the broader D.C. tech sector. We’re excited to now be part of the leading company in the event management tech space which will accelerate our growth and provide our employees with more career opportunities here in D.C. and beyond.”
Social Tables will join the Cvent network to improve collaboration between venues and planners, increase group sales for venues and create a more visual and interactive venue sourcing experience, according to a press release states. Cvent’s tech to source, create and manage events paired with Social Tables’ event planning software will help both companies grow, officials say.
Just announced! @socialtables is now part of Cvent! We’re thrilled to welcome more Cventers to our team and to deliver better events, together. https://t.co/IeJTYnIeD9 #CventNation #EventTech #MandA pic.twitter.com/eg30N0M0Yi
— Cvent (@cvent) October 16, 2018
“Over the past 19 years, we have helped power the global meetings and events ecosystem, connecting planners with the venues they need to host their events,” Reggie Aggarwal, CEO and founder of Cvent said in a statement. “With Social Tables we can offer new ways for our event and hospitality customers to work better together to manage events. We’ve known and respected Dan since the inception of Social Tables, and we are extremely excited to welcome him and the rest of the Social Tables team to the Cvent family.”
According to the Washington Business Journal, the acquisition was made with a nine-figure deal worth more than $100 million. Social Tables will continue to operate as an independent business in its D.C. headquarters while Cvent will still function out of Tysons Corner.
Social Tables is the third acquisition of the year for Cvent, and also aligns with the company’s commitment to hire 1,000 employees across multiple offices. Cvent has continued to grow after being acquired by Vista Equity Partners for $1.65 billion in 2016, Technical.ly DC previously reported.-30-