Feb 13 Cvent Inc, an online software company for
event management, has hired banks for an initial public offering
later this year, according to two sources with knowledge of the
The McLean, Virginia-based company has hired Morgan Stanley
and Goldman Sachs Group Inc to lead the deal, the
Cvent, Morgan Stanley and Goldman Sachs declined to comment.
Through its software, the company helps customers to plan
events, find venues, create mobile apps and send surveys.
Customers include Toshiba Corp, Deloitte & Touche and
Boston Scientific Corp.
Founded in 1999, The company has over 1,100 employees
worldwide. It has roughly $100 million in annual revenue,
according to analyst estimates.
In 2011, Cvent received a $136 million investment from
venture firms New Enterprise Associates, Insight Venture
Partners and Greenspring Associates