Chicago’s very own Kapow plans and caters to all corporate events, including lunches, retail-based get-togethers and sporting events, among its wide offering of options.
This diversity in service clearly appealed to the global events company Cvent, which recently acquired Kapow, according to a report from the Chicago Tribune.
“It’s something that’s just different instead of going to the old steakhouse, which is what we’ve all been doing for 50 years,” Cvent CEO Reggie Aggarwal told the Tribune. Though the deal was finalized on Monday, no details of the final purchase price or terms were released.
As Aggarwal mentioned, the novelty of a medium like Kapow offering companies the opportunity to book specialty events at a range of different types of venues is something that sticks out. Under the new ownership, Kapow will maintain its brand name and look to expand to different parts of the U.S., according to the Tribune. The company’s clients already include Samsung and Dell, among other powerful business names. It currently employs 60 workers but should see an increase soon with what should be a big boost in funding and investment.
For its part, Cvent works with some 25,000 clients across the globe and wants to expand those numbers by offering businesses and companies a smarter way to plan their office gatherings.
On its website, Kapow currently offers the following event types: Group Activity; Retail; Sports & Entertainment; Interactive Food & Beverage; Dining Experience; and Cocktail. For the interactive group activity, there are eight different options that hover around the price point of $100 per person.
The event startup offers its services in 25 cities across the U.S., from Portland to Atlanta and a plethora of places in between.
Cvent figureheads have previously said they plan on hiring 1,000 more employees by the end of this year, but it is unclear how many of those will be for positions in or around Kapow.
