Zoom may invest in a $5 billion SPAC deal to take event-manager Cvent public, report says
Zoomis a potential investor in a SPACdeal that could take Cventpublic, Bloomberg reported.
- The video-conferencing group is apparently vying for a 10% stake.
- Zoom recently announced a $14.7 billion deal to acquire Five9 in its biggest acquisition yet.
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Its software can also be used to administer chats, talks, and meet-ups on Cvent's managing platform.Zoom declined to comment on its potential investment.
During 2020, the app became so popular that it was used for everything from graduation ceremonies to reunions, happy hours, and engagement parties. It recently went a step further to diversify beyond video chat by making its biggest acquisition yet, the near-$15 billion purchase of cloud contact center software-maker Five9.Analysts say it could be looking at 11 other companies including Calendly, Twilio, and 8x8 to move beyond video calls. Zoom's stock price has surged more than 35% in the past 12 months, and is up 4% so far this year.
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