Successful IPO for Company Founded by Reggie Aggarwal '94L
Reggie Aggarwal rang the opening bell on the New York Stock Exchange on Aug. 9 to celebrate the IPO of Cvent, the company that the 1994 graduate of the Washington and Lee Law School founded.
Cvent is a cloud-based, event-management platform with headquarters in McLean, Va. Reggie is chairman and chief executive officer. In its initial public offering, Cvent priced 5.6 million shares at $21 per share and raised $117.6 million.
Reggie told the Washington Post that the money will help the company’s expansion into international markets, particularly Europe and Asia. Cvent has recently opened an office in London and has operations in India. In addition, Cvent will continue to invest in mobile.
“This is a great day to be excited, to smell the roses,” Reggie said in the Post interview, adding: “But on Monday we’re going to get back to building meeting technology tools and serving our customers.”
In an interview on CNBC’s “Squawk Box,” Reggie said that the Jumpstart Our Business Startups Act (JOBS Act) helped the company’s growth: “I think it gives an opportunity for smaller companies that don’t have to go through all that regulatory bureaucracy, frankly, so they can focus on building their business.”
Watch Reggie’s interview on “Squawk Box” at the CNBC website.
Reggie founded the company 14 years ago, and it’s grown steadily. He’s won numerous awards along the way, including Ernst and Young Entrepreneur of the Year in the Washington, D.C., Area in 2010.