Notes from the Cvent S-1 IPO Filing

Cvent, one of the oldest and largest online event management software companies, just released their S-1 IPO filing. Cvent has an interesting background raising money as a dot com startup in the late 90s, growing without much capital for over a decade, and then raising a large round of $135.9 million in July 2011 to recapitalize the business and accelerate growth. Event management software, especially with a two sided offering like Cvent provides, has the potential to be a winner-take-most market.

Here are notes from the Cvent S-1 IPO filing:

  • Mission is to transform the meetings and events industry (pg. 1)
  • For some hotels events and group meetings constitute one-third of total revenue (pg. 2)
  • More than 6,200 event and meeting planner customers (pg. 2)
  • More than 4,700 hotels and venues have purchased marketing solutions from them (pg. 2)
  • Offers six products for event and meeting planners: event management software, strategic meetings management software, mobile event apps, pre- and post-event web surveys, ticketing software, and Cvent Supplier Network (pg. 4)
  • 1.1 million RFPs were transmitted using Cvent software in 2012 (pg. 4)
  • 600 employees in India (pg. 6)
  • 1,300 total employees (pg. 8)
  • Revenue (pg. 11)
    2010 – $45 million
    2011 – $60.9 million
    2012 – $83.5 million
  • Income (profits! – pg. 11)
    2010 – $7.7 million
    2011 – $2.6 million
    2012 – $8.7 million
  • Accumulated deficit of $19.5 million (pg. 24)
  • Three acquisitions in 2012 (pg. 62)
    Seed Labs LLC – $1.4 million in cash and $0.9 million in stock
    CrowdCompass, Inc – $5.8 million in cash
    TicketMob LLC – $5.2 million in cash
  • Research and development expenses were 9% of revenue in 2012 (pg. 92)
  • CEO/co-founder owns 16% (pg. 111)

Overall, it’s an impressive story of profitable growth and execution, with a huge market opportunity. I predict the IPO will do well and the public markets will like the company.

What else? What are your thoughts on the Cvent S-1 IPO filing?

2 thoughts on “Notes from the Cvent S-1 IPO Filing

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.