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Cvent
Receives $1 Million Grant Award from Governor McDonnell
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Company
to move into new
130,000
square foot headquarters, plans to create more than 400 new jobs
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McLean,
VA – October 2013 / Hospitality 1ST / Cvent
(CVT), a leading cloud-based
enterprise event management platform, announces plans to relocate the company’s
headquarters to SAIC’s former global headquarters – the newly renamed “Greensboro
Station” – in Tysons Corner, Virginia. The company will benefit from a
$1 million grant from the state to support job creation and investment
in the property, and plans to add more than 400 additional employees in
three years, almost doubling the company’s Virginia-based headcount.
“This
move reflects the growth we have experienced in recent years and represents
the continued expansion we are driving toward,” said Reggie Aggarwal, Chief
Executive Officer of Cvent. “We are increasing our footprint and headcount
because we see an incredible opportunity to deliver positive change and
innovation in the meetings and events industry.”
“It’s
been a pleasure to watch Cvent grow from a two-person startup to a publicly
traded company with more than 1,300 employees worldwide,” said Virginia
Governor Bob McDonnell. “Virginia is pleased to support Cvent and other
companies like it because they are pivotal in bringing growth, prosperity
and new jobs to the state.”
The
company’s new headquarters will be located at the Greensboro stop of the
new Washington Metro Silver Line connecting Tysons Corner directly with
downtown Washington, D.C. and Dulles Airport. The building is slated to
undergo significant renovation that will add new retail and office space
as it becomes a critical transit hub. Cvent worked closely with the Virginia
Economic Development Partnership and the Fairfax County Economic Development
Authority in developing the lease.
“We’re
proud that Cvent is a significant job creator here in Virginia and the
greater D.C. metro area,” Aggarwal continued. “Hiring and maintaining top
talent are a significant focus for our company. At Cvent we are committed
to maintaining an exciting, high-growth organization, with an entrepreneurial,
customer-focused culture, that’s a great place to work and build a career.”
Cvent’s
new address will be 1710 Solutions Drive, McLean, VA 22102. The company
will lease approximately 130,000 square feet of space and plans to begin
moving in the second half of 2014. Greensboro Station was recently acquired
by The Meridian Group, a D.C. area-based real estate private equity firm.
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About
Cvent, Inc.
Cvent,
Inc. (CVT) is a leading cloud-based enterprise event management platform,
with more than 1,300 employees and over 12,000 customers worldwide. Cvent
offers software solutions to event planners for online event registration,
venue selection, event management, mobile apps for events, e-mail marketing
and web surveys. Cvent provides hotels with a targeted advertising platform
designed to reach event planners looking for suitable venues. 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 www.cvent.com,
or connect with us on Facebook,
Twitter
or LinkedIn.
Cautionary
Language Concerning Forward-Looking Statements
This
press release contains “forward-looking statements” within the meaning
of the “safe harbor” provisions of the Private Securities Litigation Reform
Act of 1995, including but not limited to, statements regarding relocating
our headquarters, employee headcount growth and other statements regarding
our expectations regarding the growth of the meetings and events industry
and our market position therein. These forward-looking statements are made
as of the date of this press release and were based on current expectations,
estimates, forecasts and projections as well as the beliefs and assumptions
of management. Words such as “plan,” “expect,” “anticipate,” “should,”
“believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,”
“predict,” “may,” “will,” “might,” “could,” “intend,” variations of these
terms or the negative of these terms and similar expressions are intended
to identify these forward-looking statements. Forward-looking statements
are subject to a number of risks and uncertainties, many of which involve
factors or circumstances that are beyond our control. Our actual results
could differ materially from those stated or implied in forward-looking
statements due to a number of factors, including but not limited to, our
ability to renew existing customers and attract new customers; our ability
to manage our growth effectively; and the volatility of our financial results
and expectations. For a detailed discussion of these and other risk factors,
please refer to the risks detailed in our filings with the Securities and
Exchange Commission, including, without limitation, our final prospectus
for our initial public offering filed on August 9, 2013 and most recent
Quarterly Report on Form 10-Q and subsequent periodic and current reports.
Past performance is not necessarily indicative of future results. We anticipate
that subsequent events and developments will cause our views to change.
We undertake no intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
These forward-looking statements should not be relied upon as representing
our views as of any date subsequent to the date of this press release.
Contact:
Cvent,
Inc.
Karmela
Lejarde
703-226-3500
x 3417
Marketing
Communications Manager
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