Event Planning Marketplace: Market Size

Part
01
of two
Part
01

Event Planning Marketplace: Competitive Landscape

Three companies that offer corporate event planning in the US are GigMasters, Eventinterface, and The Spot. Details on these three companies have been provided in rows 1-4, Columns B-F of the attached spreadsheet.

GIGMASTERS INC.

  • Founded in 1997 by Michael Caldwell, GigMasters offers solutions to a wide range of event-related needs. The team at GigMasters is made up of more than thirty web developers, marketers, and account specialists dedicated to delivering an excellent experience of booking live entertainment and party vendors.
  • The company has booked more than 250,000 events and has close to 45,000 event services planners.
  • It has an estimated annual revenue of $47 million.

EVENTINTERFACE

THE SPOT

  • The online site was launched in August 2013 to allow people "to search, price, and book event venues and curated experiences for groups."
  • The Spot is useful for planning events such as birthday celebrations, office holiday parties, rehearsal dinners, or just a fun corporate gathering. It offers a wide range of event spaces and experiences tailored to the client's budget and occasion.
  • The company has 148 employees, with an estimated annual revenue of $1.7 million.

RESEARCH STRATEGY

We only found three companies that offer corporate event planning in the US. We started the research by looking for pre-compiled data on companies that offer corporate event planning in the US. The search was for companies that offer bookings for multiple events online, whose businesses are marketplaces rather than apps for event planning. We leveraged a compilation of industry reports, leading publications, and expert blogs to select and present information on three of the biggest companies that offer corporate event planning in the US. We could not find pre-compiled information on the biggest companies. However, from the articles found, we looked for their revenue and funding, which we used as a metric to define top. Also, after an extensive search for marketplaces for corporate event planning in the US, these were the only marketplaces found from articles that offer information on corporate event planning. YourStory, DJ Jemby, and Wedding Spot were among the sources used to come up with a list of companies that offer corporate event planning in the US. From the list, we then cross-referenced their corporate event service offerings via their respective websites.

Haven found only three companies, we opted to websites of professional associations for event planners in search for companies whose businesses are marketplaces, but to no avail. Some of these professional associations, which are based in the US include the American Planning Association, Professional Convention Management Association (PCMA), and Events Industry Council (EIC). Most articles and data found in these associations were updates and learning courses, news, and webinars. Hence, this approach did not help find online event planning companies in the US.

Lastly, we searched through corporate online databases such as Crunchbase, Hoovers, ZoomInfo, and LinkedIn to find information about companies that offer corporate event planning in the US. We also used Crunchbase to look for competitors of the companies already identified during pre-research. Although most competitors found were marketplace businesses, their services were not for corporate event planning. We also used Crunchbase to look for the revenue, funding, and other helpful data for the three companies we found.

Part
02
of two
Part
02

Event Planning Marketplace: Competitive Landscape (2)

Complete details about each company are presented within the attached spreadsheet.

GigMasters

  • The company raised $1.3M in the venture funding round in 2014.
  • There were no further funding rounds as in 2015, the company was acquired by XO Group for $8.5M.
  • The marketplace features vendors from the United States and Canada.
  • According to its website, GigMasters has a team of over 30 employees, including web developers, marketers, and account specialists.
  • The company's partners include Animoto, We Save the Music Foundation, The Confetti Foundation, American Idol, America's Got Talent, and Bold Face.
  • GigMasters also partners with SterlingBackcheck for background screening and with EventHelper.com to offer event insurance for vendors.

EventInterface

  • According to its LinkedIn profile, Eventinterface has 2-10 employees.
  • Three of Eventinterface's employees have LinkedIn profiles.
  • The company, which is primarily an event management platform, launched a marketplace (Eventinterface Market) that only features vetted vendors in 2016.
  • Eventinterface's Market has active employees on LinkedIn, which suggests that the marketplace is still operating.
  • However, its website is currently not working. As the marketplace has not been covered by external media sites, it is impossible to find information on its area of operations.
  • In 2017, Eventinterface partnered with Piitchr and Tap to Speak to form EventTechHub, "a fully integrated solution to plan more efficiently, increase attendee engagement and offer opportunities to increase event revenue and return on event investment."
  • The company also partners with Next Wave Insurance Services to provide event insurance.

The Spot

  • The Spot is a marketplace for corporate events that was launched by Wedding Spot, a wedding planning marketplace company.
  • Wedding Spot raised $3M in Series A funding in 2014. There were no funding rounds since. However, in 2016 the company was acquired by HoneyBook and in 2019, by Cvent, for undisclosed amounts.
  • The Spot showcases venues and experiences for corporate events in California.
  • Wedding Spot has between 11 and 50 employees.
  • 20 of Wedding Spot's employees have profiles on LinkedIn.
  • In 2018, Wedding Spot partnered with Gather, a provider of event management software.
  • Cvent, the company that owns Wedding Spot, has an extensive list of partners on their website. They include industry partners like MPI-Northern California Chapter and the Association of Corporate Travel Executives, service partners like AmericanEagle and Benel Solutions, technology partners such as Hubspot and Marketo, and travel/event/meetings partners like ConferenceDirect Associates and BCD Meetings & Events.

Research Strategy:

As the research team worked to assess some of the biggest companies that offer corporate event planning marketplaces in the United States, we identified a few issues that should be noted about the convergence of this present brief and the previous one. Additionally, we also need to note the techniques we used in searching for certain details for Eventinterface and GigMasters in order to provide understanding about how those data elements were derived.

CONVERGENCE OF REPORTS
As noted in the findings, The Spot is a corporate events marketplace launched by Wedding Spot, a company that provides a wedding planning marketplace. As it's a small private organization (with 11-50 employees) that has been operating as a part of HoneyBook in 2016-2019, it's impossible to provide funding or employee details for The Spot, specifically. Like in part one of this project, our research team provided data for the whole company. Additionally, the previous request provided Owler's estimates for the number of employees. Those estimates can be added by visitors, unlike the ranges provided on LinkedIn profiles, which are set up by the companies themselves. Since the data points provided on Owler and LinkedIn are conflicting, the team decided to go with the ranges provided on the latter.

EVENTINTERFACE'S LATEST FUNDING ROUND
To find the amount of Eventinterface's latest funding and investors that provided it, we thoroughly analyzed the company's website, focusing on press releases and blog posts. Given the small size of the company and the fact that it's rarely mentioned in the media, we assumed it was the most likely place to provide such information. However, they mostly included information about the updates to the platform, new features and partnerships. Next, we searched through business sites such as Xconomy and event industry-related sites like Corporate Event News. The latter seemed most likely to include such information since the company is small and its funding would be of most interest to the media that covered its niche. However, the company didn't post about its funding and the only mention of it we found was about its partnership with facial recognition software Zenus. We also searched Eventinterface's profiles in databases that usually provide information on funding. However, the profile on Crunchbase didn't provide any data on funding and Angel.co didn't have Eventinterface's profile. Thanks to Pitchbook, we discovered that the company received seed funding in 2014. However, the details of that funding round are behind a paywall.

EVENTINTERFACE'S GEOGRAPHY OF OPERATIONS
At the moment, the company's marketplace website doesn't work, which makes it impossible to search through the vendors or read the information about the locations served by them. A thorough search of the main Eventinterface's website only includes the data on when the marketplace was launched and what was the main idea behind it. While we also performed a press search in tech, business and event sites, as mentioned before, the company is not often mentioned by external media and most of the information is simply its software reviews. We hoped that the marketplace's area of operation may be briefly mentioned even in such reviews, so the customers know if they should be interested or not. However, Eventinterface's Market is only mentioned on social media and the company's press releases, which made this strategy fail. Finally, we realized that one of the company's employees mentioned Eventinterface Market in their job description on their LinkedIn profile. However, there was nothing about what area the marketplace covers. We tried to check other employees' profiles. Unfortunately, the company is very small and no other employee provides information about the Eventinterface Market specifically.

GIGMASTERS' INVESTORS
To find information on GigMasters' investors, we employed similar strategies that we tried for finding information on Eventinterface's funding. In this case, Crunchbase and Angel.co included information on the funding amount. However, it was noted that the investors are undisclosed. The only reputable article about the deal we found was discovered using the WayBack Machine. Unfortunately, the website no longer functions and the article was originally paywalled.
Sources
Sources

From Part 02
Quotes
  • "To address this problem, EventTechHub brings together Eventinterface, an event management platform; Piitchr, a platform connecting speakers with planners; and Tap To Speak, a web-based tool connecting attendees with speakers."
Quotes
  • "The good news is that Eventinterface has partnered with Next Wave Insurance Services offering a solution to the typical “no refund” policy associated with registration fees and conference-related travel. "
Quotes
  • "Just in time for the holiday party season, Wedding Spot, an online marketplace that connects engaged couples with wedding venues, today announced the launch of The Spot that expands its product offering to the corporate events market."