D.C. entrepreneur Dan Berger has led his startup success story Social Tables from an idea on paper to a $100 million-plus acquisition target in eight years.
Northern Virginia-based event planning giant Cvent bought the company for undisclosed terms.
The deal, which one source told WBJ was valued at more than $100 million, would combine the 110 employees and 5,000 customers of Social Tables with the 3,500 employees and 25,000 customers of Cvent.
Social Tables will continue as an independent business unit from its D.C. headquarters, with Berger, founder and CEO, leading it as general manager.
"It's a great outcome for D.C., and when the history books are written, I hope that we would be celebrated for what we have done here," Berger told WBJ. "In D.C. tech, you either flunk out or you graduate. I view this as a graduation of sorts for Social Tables."
The startup was founded in 2011 and had raised a combined $22.5 million in venture capital in four rounds, according to a Crunchbase tally. Its investors included QuestMark Partners, Bessemer Benture Partners, Thayer Ventures, Middleland Capital and Fortify Ventures.
Social Tables is be the third acquisition this year for Cvent. It already bought Vancouver, B.C.-based QuickMobile and Chicago event management startup Kapow.
