Cvent Experiences Record First Quarter
as Market Bounces Back
Published in MeetPie
June 02, 2010
(view original article)
Event Management Software Provider Cvent Has Announced a Record Q1 2010, Receiving More RFPs than the Whole of 2009
Cvent, the world's largest provider of event management software and online venue finding, has announced a record sales quarter in Q1 2010, increasing sales by 30 percent over the same period in 2009.
In the first three months of the year, Cvent drove more than 170,000 requests for proposals (RFPs) through the Cvent Supplier Network venue sourcing tool, a 1,040 per cent increase over Q1 2009 and more than the total volume of RFPs sent through the system in all of 2009.
Chuck Ghoorah, Cvent's co-founder, said this growth was fueled by a rebounding meetings industry and the desire to achieve cost and time savings.
"Customers are relying on Cvent more than ever to save time and reduce costs by streamlining site selection, online registration and strategic meetings management," he said. "We continue to develop our technology to deliver the most useful functionality and the greatest value to meetings industry professionals, and we are looking forward to bringing our customers major product enhancements in the coming months."
Additionally in Q1, Cvent users managed more than 30,000 events with the company's event management and sourcing software, processing over 1.5 million attendee registrations and almost $200m in event transactions.
Bharet Malhotra, Cvent's vice president of sales, said: "We expect close to $1bn in actual awarded business in the system for hotels and event venues in 2010, which makes the Cvent Supplier Network the world's largest sourcing tool."