Cvent Acquires Kapow to Deliver Unique Event Experiences That Drive Engagement and Increase Sales
TYSONS CORNER, Va.--(BUSINESS WIRE)--Jun 5, 2018--Cvent, Inc., a market leader in meetings, events, and hospitality technology, today announced that it has acquired Kapow, a leading online platform that allows companies to find and instantly book unique venues and curated experiences via a credit card. Kapow offers more than 10,000 special event venues and experiences that can be booked directly through Kapow’s website. Some of the unique event venues include restaurants such as Fogo De Chão for authentic dining adventures in private rooms; retail experiences at Nike stores for personalized fittings; and movie theaters, including Regal Entertainment Group, for private screenings of popular new movies.
Kapow events can be purchased online with all logistical details organized in advance so organizations can easily book the event and focus their efforts on inviting and engaging attendees. Companies that use Kapow for sales-related events routinely close 20% more deals because of the increased face time delivered through tailored experiences. Organizations also use Kapow to book exclusive internal meetings that drive employee engagement.
At its core, Cvent technology gives organizations the power to source, create, and manage live events more efficiently than ever before. Acquiring Kapow enhances Cvent’s ability to deliver world-class live events by:Offering companies – and their distributed field marketing teams – tailor-made event experiences at scale that their sales teams can use to close important deals. Current customers include Samsung, Hewlett Packard Enterprise, Google, Facebook, Lenovo, Dell, Microsoft, and more. Giving event planners and marketers pre-built, pre-negotiated event experiences that they can instantly book quickly and easily as needed. Event planners can now turn to Cvent to book unique, turn-key events in addition to using Cvent solutions to easily promote events and drive increased attendance. Adding more unique venues to the thousands of hotels and venues already offered by the Cvent Supplier Network. In 2017, nearly $15 billion of sourcing volume flowed through Cvent.
“We are thrilled to continue the Kapow journey with Cvent, a company that understands how important face time at live events is to meeting corporate goals,” said Chris Brown, CEO of Kapow. “By leveraging Cvent’s research and development resources and market reach, we can more quickly add new venues to Kapow’s platform and offer unique event experiences to more organizations than ever before.”
“Since we were founded in 1999, Cvent has embraced the philosophy that well-executed live events deliver game-changing benefits for organizations,” said Reggie Aggarwal, founder and CEO of Cvent. “Tapping into the power of the human connection to build relationships and get business done is more important than ever in our increasingly virtual world, and this central idea continues to drive our investments at Cvent. That’s why we acquired Kapow – to give our customers easy access to unique live event experiences that they can book whenever the need arises. We are extremely excited to add Kapow to our portfolio of solutions and to welcome our newest team members to the Cvent family.”
About Cvent, Inc.
Cvent, Inc. is a leading cloud-based enterprise event management company with more than 3,000 employees, 25,000 customers, and 300,000 users worldwide. Cvent offers software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, email marketing, and web surveys. Cvent provides hoteliers with an integrated platform, enabling properties to increase group business demand through targeted advertising and improve conversion through proprietary demand management and business intelligence solutions. Cvent solutions optimize the entire event management value chain and have enabled clients around the world to manage hundreds of thousands of meetings and events. For more information, please visit Cvent.com, or connect with us on Facebook, Twitter or LinkedIn.
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CONTACT: Cvent, Inc.
Erica Stoltenberg, 571-378-6240
KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA
INDUSTRY KEYWORD: CATALOG DEPARTMENT STORES TECHNOLOGY ONLINE RETAIL DATA MANAGEMENT INTERNET NETWORKS SOFTWARE SECURITY TRAVEL LODGING MOBILE/WIRELESS RETAIL COMMUNICATIONS ADVERTISING FASHION MARKETING
SOURCE: Cvent, Inc.
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PUB: 06/05/2018 10:30 AM/DISC: 06/05/2018 10:30 AM