Keen On… Success: Why 99.9% Of Tech Companies Aren’t WhatsApp or Instagram

Next Story

Google Releases Street View Imagery Of Hawaiian Beaches, The First From Its Trekker Loan Program

Reggie Aggarwal, the founder and CEO of Cvent, describes himself as a “15 year overnight success”. Having founded Cvent in 1999 and raised $17 million for this cloud based B2B event management platform, Aggarwal’s startup experienced near-death after the dotcom crash of May 2000. But in spite of laying off 80% of his staff, Aggarwal persevered, kept 90% of the original executives on his team and eventually succeeded in building a very successful company. Cvent went public last August and the company now has a $1.5 billion market cap.

“99% of businesses aren’t WhatsApp or Instagram”, Aggarwal reminded me. Most tech businesses, he says, are built over many years. It’s a really important message which, coincidentally, is also being made by Ben Horowitz in his new book The Hard Thing About Hard ThingsAnd Aggarwal is himself a sterling example of a determined entrepreneur who kept his head down – not giving a single media interview for 10 years – and focused exclusively on building a viable company.

Cvent now dominates its B2B event management vertical with almost 13,000 companies using its cloud platform. But what comes after the cloud, I asked Aggarwal. What is the next big thing in B2B?