Active Network (ACTV +3.8%) rallies as rival event/meeting management site Cvent files for a...

|About: The Active Network (ACTV)|By:, SA News Editor

Active Network (ACTV +3.8%) rallies as rival event/meeting management site Cvent files for a $100M IPO under the symbol CVT. Cvent posted 2012 revenue of $83.5M (+37% Y/Y), and net income of $4.3M.  Q1 sales totaled $24.4M (+33% Y/Y), and net income $310K. For reference, ACTV had 2012 sales of $418.9M, and a net loss of $43M. Cvent relies on a database of 200K+ venues to connect event planners with venue providers, and claimed 6.2K+ event planner customers at the end of 2012.  The company also sells "marketing solutions" to venue providers. (S-1)