Cvent founder and CEO Reggie Aggarwal
Meetings-technology powerhouse Cvent has acquired yet another mobile event-tech provider. The tech giant has added San Francisco-based DoubleDutch to its growing list of acquisitions, which have, over the years, included Seed Labs, CrowdCompass and QuickMobile. The latest deal, the terms of which were not disclosed, will expand Cvent's mobile app and on-site solution capabilities.
"We are extremely excited to add DoubleDutch to the Cvent family," said Reggie Aggarwal, CEO and founder of Cvent. "By adding DoubleDutch's industry expertise to Cvent, we accelerate our investment in mobile event technology. We are also proud to welcome the talented DoubleDutch team to our more than 4,000 Cventers worldwide."
A Cvent spokesperson couldn't provide specifics on DoubleDutch headcount or role changes, but noted that the company's first priority is employee integration. Cvent had previously announced that nearly 1,000 new employees would be hired this year, which should provide many opportunities for the current DoubleDutch team, which numbers about 50 full-time employees and more than 30 contractors. DoubleDutch has offices in San Francisco, Phoenix and Amsterdam, expanding Cvent's physical global presence as well.
For its part, DoubleDutch has been on a roller-coaster-like ride in recent years, attracting massive investments from private equity but subsequently having to slash its workforce on multiple occasions. In the fall of 2017, founder and CEO Lawrence Coburn stepped down to become chief strategy officer, while then-COO Bryan Parker, who had a history of driving operational change and generating revenue at other corporations, was promoted to CEO. At the same time, DoubleDutch acquired the registration provider Eventgrid, expanding its platform capabilities to compete in the marketplace. Just two months later, however, Coburn was reinstated as CEO. In March 2018, the company raised new funding and announced it was cash-flow positive.
DoubleDutch had already significantly transformed itself over the years from a "FourSquare for events," as Coburn originally pitched the app and its geolocation features nearly a decade ago, to a "Live Engagement Marketing" platform, branding that struck a chord with many planners looking to take attendee app usage and associated data to the next level.
Now, Cvent will tap the company's brain power to drive its own mobile development. "DoubleDutch is an innovator in the mobile event app space, and both Cvent and DoubleDutch have a shared mission to unlock the business value of human connection," said Coburn. "We are incredibly proud to join the market-leading team at Cvent. With their global reach and scale, we can fuel our passion to change the way people connect, learn and grow at live events."
With respect to current DoubleDutch operations and customers, "it's business as usual for now," according to a Cvent spokesperson, who acknowledged that folding the new tech into the Cvent platform will take time. "Mobile is a major focus for us, and CrowdCompass, QuickMobile and DoubleDutch will each play a key role in what our offerings look like in the months and years ahead."