Connect with us

Business

Indian-American Reggie Agarwal’s Cvent sold to Vista Equity Partners for $1.65B

Published

on

aggarwalreggie1125201305-2-750xx4256-2394-0-178WASHINGTON (Diya TV) — Cvent, a northern Virginia event planning company founded by Reggie Aggarwal, is being purchased by the San Francisco-based private equity firm Vista Equity Partners for $1.65 billion, a whopping 69 percent higher than the company’s market capital.

Vista intends to take the company private immediately after purchase, whose shares were trading for $21.30 at market close last Friday. Coincidentally, the purchase was announced the same day. The sale is expected to be closed by the end of the third quarter of 2016.

“We are pleased to announce this transaction that provides a significant premium for Cvent stockholders,” Aggarwal said. “This milestone is the next chapter in our 17-year history. With Vista’s financial strength to invest in Cvent now and in the future, we will be better positioned to deliver innovative solutions that transform the meetings and events industry, and to offer employees new opportunities for career growth.”

According to a press release by Cvent, it will be an all-cash deal. Vista will acquire 100 percent of the company’s outstanding shares of common stock for the aforementioned sale price of $1.65 billion. Current Cvent shareholders will receive $36 in cash per share, which represents the 69 percent difference of the company’s closing price on April 15.

Cvent has a global workforce of 2,00 employees and a customer base of more than 15,000.

Aggarwal, an attorney by profession, founded the company in 1999 using his own savings. Other investors in the company included his parents and less than a handful of co-founders. During the dotcom boom, his company raised nearly $20 million, however, after 9/11, the company suffered a rough patch. At the time, with only $400,000 in the bank, he had to lay off 80 percent of the company’s employees.

Aggarwal didn’t take a salary for three years, and lived in the basement of his parents home.

“We went back to the basics,” he told the Washington Business Journal in a 2014 interview. “Hire the best people, build the best products, and focus on your customers.”

Going back to basics is exactly what the company needed — in 2011, Cvent raised nearly $140 million in a first round of funding, and two years later during its IPO, it raised another $135 million.

Business

Harvard to host 17th annual India Conference this February

Published

on

CAMBRIDGE, Mass. (Diya TV) — For the 17th year in a row, the graduate students at Harvard University will host an India Conference. It will take place during the weekend of February 15-16, 2020. Two days of exciting discussions through panels, mixers and networking will fill the halls of the Harvard Business School and Kennedy School of Government.

The theme for this year’s conference is Foresight 20/20 – a look at what to expect from India in 2020 and beyond. As one of the largest student led conferences in the USA, the Harvard India conference attracts the biggest headliners from every field – from politics, business, entertainment & the arts. And this year is no different.

India Conference
India Conference at Harvard

With more than 100 speakers and 1000 attendees, the conference promises to have something for everyone. This year’s biggest draw from the entertainment genre is veteran Bollywood actor and self proclaimed ambassador to India, Anupam Kher. Kher has a long standing list of accolades within the film industry. In addition to his acting roles, he has been a producer, director and teacher at his own acting school. Most recently he played the role of Dr. Vijay Kapur on NBC’s primetime drama ‘New Amsterdam‘.

Some other notable speakers this year include founder of the India Today Group, Aroon Purie, Indian Olympic athelete Dutee Chand, comedian and actor, Vir Das, partner at Softbanks’ Vision Fund Lydia Jett & politician and India’s ruling party (BJP)’s sherpa to the G20, Suresh Prabhu.

The harsh winter in Harvard doesn’t seem slow down or dull these brilliant minds in any way. The India Conference at Harvard continues to retain its standing as the conference of choice for deliberating issues ranging from technology, media, politics and eduction to creating solutions for India’s path towards global leadership. The event features brainstorming sessions and sincere discussions on the very real and large scale problems that are uniquely Indian.

Diya TV is a media sponsor to the event and will be on-site covering conference. To receive a 20% discount use code RDAY20 here and to know more about the conference or speakers, head to the IndiaConference.com

Continue Reading

Arts

Indian Ambassador, Shringla speaks to U.S. Congress about Kashmir

Published

on

AMB. Shringla speaks to congress about Kashmir | Diya TV News

WASHINGTON (Diya TV)  — Indian Ambassador to the U.S. Harsh Shringla met with members of Congress at a private roundtable briefing, hosted by Southern California Congressman Brad Sherman. Sherman, who has been a supporter of India, took to Twitter recently to share his concerns about Kashmir and said serious questions about Kashmir were asked at the briefing.

President Trump is being urged to fix the H1-B visa process and do away with country-specific limits, with the latest effort for reform being spearheaded by 60 U.S. business school deans and CEO’s.

In an earthquake, seconds matter. So on the anniversary of the deadly 1989 Loma Prieta earthquake that rocked Northern California, state officials announced the launch of America’s first statewide earthquake early warning system.

Tabla Maestro Zakir Hussain will be coming to Boston next month to perform at the Berklee India Exchange, where he will also be conferred with an honorary doctorate by the esteemed music school. A Zakir Hussain Scholarship at Berklee is also being established.

And we have incredible video of three kids from India rescuing their dog from a snake that’s equal parts courageous and nuts.

Ravi Kapur contributed to this report.

Continue Reading

Business

Federal Court rules Trump must turn over tax returns | Diya TV News

Published

on

Trump Tax Returns

NEW YORK (Diya TV) — A federal judge ruled President Trump must turn over eight years of his personal and corporate tax returns to Manhattan prosecutors, striking down the President’s argument that a sitting president cannot be criminally investigated. The ruling was quickly appealed and this case could end up in the Supreme Court to answer the constitutional question of whether presidents can be charged with a crime.

Meanwhile, the President celebrated a victory by FCC Chairman Ajit Pai, as a federal appellate court upheld most of the FCC’s repeal of net neutrality. It also ruled the FCC cannot preempt state net neutrality laws, meaning the rules of the road in states like California remain in place.

The U.S. House Foreign Affairs Committee announced their Asia-Pacific and Non-Proliferation Subcommittee will be holding a hearing asking State Department officials and human rights activists to chime in on Human Rights in Kashmir, the Tamils of Sri Lanka, Muslims in Assam and the human rights situation in Pakistan, which includes the Sindh Province.

Lockheed Martin announced they will build F-16 wings exclusively in India, helping in integrating Indian industry into the $165 billion fighter aircraft market.

Ravi Kapur contributed to this report.

Continue Reading

Trending

Diya TV , Inc. © 2017 All Rights Reserved