The venue booking and conference management platform Bizly announced on Tuesday that Kapow, from Hello! Target management in equity -based transactions. The financial terms were not disclosed.
Due to decentralized booking and limited supervision, the group dining has become a challenging expenditure category for many companies. The acquisition solves this specific pain point in the company’s incident management.
Bizly believes that there is huge potential in group catering, and the demand for smaller gatherings in large activities has continued to increase. “In today’s loneliness popularity, people not only participate in content, but also build real relationships. The most meaningful moment often occurs in private dinner, joyful time and intimate gatherings around these large events,” Ron Shataaa (Ron Shah) said weird.
The transaction combines Bizly’s AI Driver Conference platform with Kapow’s restaurant and venue network. Kapow has previously raised more than $ 40 million in venture capital, and has provided services to thousands of company customers since its establishment in 2011.
In recent years, Kapow has several owners. CVENT acquired the company in 2018, followed by Hello! Destination management was purchased in 2020 during the period of great popularity.
Bizly received investment in various private investors including hedge funds and venture capital companies. The current investors include meetings and Enkor.
The integration aims to make travel and purchasing managers better understand this growing cost area. Although no full -time employees will transfer during the acquisition, Bizly will retain some former Kapow team members as contractors. The company plans to completely integrate Kapow’s market into its core platform in the third quarter, while maintaining the venue logo labeling while gradually eliminating the independent Kapow brand.
