Amidst July 2021, it was announced that events platform Bevy acquires Egypt’s Eventtus. The acquiring company is an enterprise software company based in California, while the acquired company is an event management company based in Egyptian. The financial information regarding this deal wasn’t made available to the public, but it is claimed that the merger was a beneficial deal for everyone including for the company’s investors.
About Eventtus
Eventtus was established by its CEO, Mai Medhat, and its CPO, Nihal Fares in 2012. This company was based in the capital of Egypt, Cairo. Even though the company has started to provide service mainly for in-person events, it also started to create virtual event app to accommodate online-based events with attendees’ engagement.
After it had enabled virtual and hybrid events aside of offline one, the company promotes exhibitions and conferences in 35 countries by using tech solutions. After the break of the Covid-19 pandemic, it added features for organizers of virtual events to host summits, workshops, expos, and conferences with various engagement tools for the speakers and the audiences.
It was able to pulled several renowned names of global and regional investors like 500 Startups, Raed Ventures, Algebra Ventures, Cairo Angels, Hala Ventures, and Middle East Venture Partners (MEVP), to provide support and guide for it to become a market-leading online event platform across Middle East. The CEO stated that the reason to sell this online conference platform is to make it capable to compete with other competitors by joined forces with much bigger scale company.
Bevy Acquires Egyptian Virtual Events Platform Eventtus
The news of events platform Bevy acquires Egypt’s Eventtus results with the employees of both companies to team up. Both of the companies apply remote-working method to their employees, so the staffs can continue to work regardless of their locations.
The acquisition of both virtual event companies is expected to make the growth development of their primary functionality accelerates. The technology stack owned by the acquired company is hoped to be extended, by adding mobile app version of in-person conference and other tools of engagement for the attendees. After the integration happened, the customers of both virtual meeting platforms will be able to use an extremely comprehensive solution of event management to organize their online, offline, and hybrid events.
Bevy is a company that was established a little more than four years ago, but it has successfully risen funding from Accel and other leading investors to receive $60million. It was built purposively by the Startup Grind team to support the companies to grow and move up their worldwide customers, employee communities, and prospect. With branches in more than 125 countries and 500 cities across the world, Startup Grind is regularly deemed as the most-connected platform for entrepreneurs and startups in the world. To this day, Startup Grind remains as the largest stakeholders and customers of this virtual conference company.
Derek Anderson, the CEO of Startup Grind also stated that their employees have been using the service of acquired the conference platform company to host their events. It is claimed as one of the stories where customers find a product fit and love it, that it eventually transformed into a powerful acquisition.