Meetings management technology provider Cvent Holding Corp
completed its merger with special purpose acquisition company Dragoneer Growth
Opportunities Corp II on Wednesday and began trading as a public company Thursday
on the Nasdaq exchange. The stock opened at $10.05 per share.
Cvent announced plans for the merger in July, with an
anticipated $5.3 billion valuation and about $800 million in cash. CEO Reggie
Aggarwal spoke with BTN in late November about the deal and future plans for
the company. Cvent's third quarter results showed 13 per cent year-over-year
growth, with Aggarwal saying it was the first quarter of growth since being
affected by the pandemic in 2020.
The company, founded by Aggarwal in 1999, has about 4,000 global
employees and had been public once before, prior to it being purchased by Vista
Equity Partners in 2016 for $1.65 billion. As of July, Vista said it would roll
all its Cvent holdings into the new entity, as would Cvent management.