This decision marks a significant step in the development of WHD Event GmbH, which will leverage the significant event experience of the Opus Origin team to continue to develop and expand its leading events in the Cloud and Hosting sector.
It’s the first exit for Tesonet, selling its Cloudfest shares to Opus Origin. Cloudfest is the world’s largest cloud computing festival, attracting over 9,000 executives from more than 100 countries every year since 2004.
Tesonet invested in Cloudfest in 2021, aiming to strengthen the technology ecosystem in Lithuania and across Europe. Also, during one of the Cloudfest events, Tomas Okmanas, the co-founder of Tesonet, met Arnas Stuopelis, former CEO of Hostinger. This acquaintance led to Tesonet investing in Hostinger, and the relationship and partnership established at the festival continue to this day.
As stated by Tomas Okmanas, the sale of Cloudfest shares became both the first exited investment for Tesonet and an ideal example of the accelerator’s playbook. “Ordinary accelerators would likely have avoided investing in an events company during the middle of a pandemic, but we saw how many valuable connections and insights into cloud solutions the Cloudfest format provided. We had no doubt that the demand for companies would only increase in the future, and that’s what happened—the conference grew into a market leader. Chasing success is only one side of the Tesonet drive—for us, it’s equally important to leverage our existing knowledge, acquire new know-how, and expand our network of connections, as happened with Hostinger and Cloudfest,” revealed Tomas Okmanas, co-founder of Tesonet.
About Opus Origin
Opus Origin is pioneering the future of integrated, multi-format marketing and live events businesses as it believes these ventures have the potential to surpass the value delivered by traditional events and media, especially as customer expectations continue to evolve rapidly.
As part of a new breed of B2B media operators, Opus Origin is committed to harnessing data and technology to support the communities it serves by offering relevant, timely, and personalized insights, connections, and information to generate exceptional customer outcomes and measurable value.
