Record Sales, New Headquarters, and Employee Growth For 2005
New Budget Toolset Allows Planners to Take Negotiations
to the Next Level and Realize Substantial Cost Reduction
for Meetings and Events
Arlington, VA – February 17, 2006 - Cvent, Inc., the leader in web-based event registration, email marketing, and housing and travel solutions, announced another record quarter ending December 31, 2005, with sales increasing 62% over the fourth quarter of 2004. Cvent Inc., a privately held company, finished 2005 with a 50% increase in sales over 2004. Cvent signed contracts with 125 new customers during the fourth quarter. New customers include Yahoo!, Long & Foster, The JC Penny Corporation, and Lending Tree.
Cvent moved into its new corporate headquarters in Mclean, Virginia at the end of 2005 that is nearly double the size of previous headquarters location. The class A office space houses the organization’s sales, account management, marketing, finance, product development, and business administration teams.
At the end of 2005 Cvent also released core enhancements to their online event registration and management product. The new product release included many new feature enhancements requested by clients and new functionality that allows event planners to accept registration payments from attendees in multiple currencies. “We ended 2005 with 125 full time employees, a loyal customer base of over 2,500 clients, and all the necessary ingredients to continue our exceptional year over year growth,” said Chuck Ghoorah, Cvent’s Executive Vice President of Sales & Marketing. “During 2006 Cvent will continue to develop and enhance our core event registration product and launch new tools for meeting and event planners.”
Media Inquiries Contact:
Eric Eden
Vice President Marketing
703-226-3558
