Cvent Acquires Social Tables to Power Tighter Collaboration Between Event Planners and Venues
Acquisition delivers unique diagramming, seating, and venue sales solutions that help event planners and venues create exceptional events
Cvent, a market leader in meetings, events, and hospitality technology, today announced that it has acquired Social Tables, the leading event diagramming, seating, and collaboration platform. More than 5,000 organizations and hospitality brands, including Under Armour, Live Nation, Hyatt, The Venetian, ClubCorp, and Forbes, have utilized Social Tables to help them develop and plan nearly 4.5 million events. Cvent acquired Social Tables to help event planners and venues better collaborate to deliver successful events, further accelerating Cvent's product roadmap and global growth.
Cvent technology delivers the power to source, create, and manage events more efficiently than ever before. By acquiring Social Tables, Cvent now enables:
- Improved collaboration between venues and planners: Event planners and venues traditionally manage floor plan design with disparate tools that are cumbersome to use and often inaccurate. Leveraging Social Tables' Event Services Solution, customers can collaborate to create accurate diagrams and renderings in minutes, allowing for real-time edits that reduce the time spent making critical decisions.
- A more visual and interactive venue sourcing experience: By combining the Cvent Supplier Network with Social Tables' rich function space content, planners can better visualize the event space and select the right venue. This improves the planner's venue selection experience and also gives venues added confidence that their facilities will meet the planner's requirements.
- Increased group sales for venues: Venues use the Social Tables platform to showcase their unique meeting space online and to create custom proposals that lead to more group business. In a study conducted by STR, Social Tables customers saw an increase of 2% in F&B profitability per-occupied room.
"Cvent is the clear global leader in event management, and we are thrilled to continue the Social Tables journey with them. The company embodies our vision of making face-to-face events more successful," said Dan Berger, CEO and Founder of Social Tables. "As a fellow DC-area software company, this is even more special for the DC tech community. We're looking forward to continuing to work with all of our customers to offer our market-leading solutions as part of Cvent. Together, we will improve how events are sourced, managed, and executed."
"We would not be where we are today without our dedicated customers and employees," continued Berger. "It takes a village to accomplish what we've done, and I couldn't be more grateful to each of them. I'm truly excited about the additional opportunities we will have going forward with Cvent under Reggie's leadership."
"Over the past 19 years, we have helped power the global meetings and events ecosystem, connecting planners with the venues they need to host their events," said Reggie Aggarwal, CEO and Founder of Cvent. "With Social Tables, we can offer new ways for our event and hospitality customers to work better together to manage events. We've known and respected Dan since the inception of Social Tables, and we are extremely excited to welcome him and the rest of the Social Tables team to the Cvent family."
Cvent is the global meeting, event and travel technology leader. Cvent offers software solutions to event plannersfor online event registration, venue selection, event management, mobile apps for events, e-mail marketing and web surveys. Cvent provides hoteliers with an integrated platform, enabling properties to increase MICE 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.
On November 29, 2016,Cvent announced that it had been acquired by Vista Equity Partners. In addition, Cvent and Lanyon Solutions also announced the merger of their two companies, creating a global meeting, event and travel technology.