Why Every Tech Investor on the Planet Wants to Invest in Virtual Events

Zoom keeps adding 100,000 users per quarter. Event tech software startup Hopin is reportedly pursuing a $2 billion valuation, in its first year of launch. Many virtual event platforms are raising rounds of more than $30 million — and likely to grow bigger — for the first time in event tech history. While the pandemic keeps impacting our lives, virtual events seem to be the only certainty. And every tech investor we know — and have talked to in the last nine months over at EventMB — wants a big piece of the pie. "We’ll be back by the summer" was the mantra many people in events kept repeating when the wave of cancellations happened in March. Seven months later, we are back to square one with Europe on the brink of a second lockdown and the U.S. experiencing a steady rise in Covid-19 cases. While many sectors come to terms with the long-term devastation of a pandemic that does not seem to fade, the business of virtual events is booming. Nobody saw it coming, but everybody now wants part of the action. First it Was Zoom Zoom was the outlier. The now household name singlehandedly drove the growth of the whole sector in the first few months. Here are just some of the incredible numbers: 100,000 users added last quarter. $186 million in profit for the quarter ending July 31 compared to $5.5 million for the same period l