Cvent skyrockets following IPO

|By:, SA News Editor

Cvent (CVT) shares opened at $38 and are currently at $37.26, up 77.4% from an IPO price of $21.

That gives the company a valuation of $1.44B, or a lofty 17x 2012 sales.

For reference, larger/slower-growing rival Active Network only has a market cap of $614M, and trades at a mere 1.5x 2012 sales.

IPO pricing/competition, S-1, 2012/Q1 results