Inclusion highlights Cvent’s expanding leadership position in the event technology space
TYSONS, Va.–(BUSINESS WIRE)–$CVT #MarTech—Cvent Holding Corp. (“Cvent”) (Nasdaq: CVT), a market-leading meetings, events and hospitality technology provider, announced today it has been selected to be added to the Russell 2000® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens on June 27, 2022.
Cvent CEO and Founder Reggie Aggarwal commented, “We are proud of Cvent’s inclusion in the Russell 2000 Index. This recognition is a testament to Cvent’s strong fundamentals and business performance, and further underscores our role as a long-time leader in our space. We believe our successful pivot during the pandemic accelerated our leadership position as we developed the technology our customers needed to deliver more impactful digital event experiences across their Total Event Program. As we look ahead, we’re excited to build on the momentum we see in the return of in-person events, while creating more value for our customers and investors with an innovative and robust platform to power events of all types and formats.”
Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 2000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
Cvent Holding Corp. (Nasdaq: CVT), is a leading meetings, events, and hospitality technology provider with more than 4,300 employees and nearly 21,000 customers worldwide. Founded in 1999, the company delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging, impactful experiences. Cvent is headquartered in Tysons, Virginia, just outside of Washington D.C., and has additional offices around the world to support its growing global customer base. The comprehensive Cvent event marketing and management platform offers software solutions to event organizers and marketers for online event registration, venue selection, event marketing and management, virtual and onsite solutions, and attendee engagement. Cvent’s suite of products automate and simplify the entire event management process and maximize the impact of in-person, virtual, and hybrid events. Hotels and venues use Cvent’s supplier and venue solutions to win more group and corporate travel business through Cvent’s sourcing platforms. Cvent solutions optimize the entire event management value chain and have enabled clients around the world to manage millions of meetings and events. For more information, please visit Cvent.com, or connect with us on Facebook, Twitter or LinkedIn.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements that reflect Cvent’s current views, expectations and beliefs with respect to, among other things, future events, results and financial performance, which are intended to be covered by the safe harbor provisions for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Although the Company believes that the expectations and assumptions reflected in these statements are reasonable, there can be no assurance that these future plans, estimates or expectations will be achieved or prove to be correct. Any forward-looking statements contained in this release are based upon the Company’s historical performance and on its current plans, estimates and expectations in light of information currently available to the Company. Forward-looking statements are subject to many risks and uncertainties that could cause actual results to differ materially from the results discussed in such forward-looking statements, including risks and uncertainties related to the inclusion of Cvent on the Russell 2000® Index following the conclusion of the annual reconstitution and the risk that the Company is unable to build on the momentum it sees in the return of in-person events, while creating more value as discussed in this release. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in the Company’s filings from time to time with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q, including in the “Risk Factors” sections of those filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company does not undertake any obligation to publicly update or review any forward-looking statement except as required by law, whether as a result of new information, future developments or otherwise.