The executive chairman (CEO) and founder of Web Summit, Paddy Cosgrave, says that the summit “fits perfectly with Lisbon” and that he hopes it stays in the Portuguese capital “forever”.
Paddy Cosgrave was speaking at the press conference of what is considered the biggest technology ‘summit’ in the world, on the third day of the event, which ends on November 14th.
By way of balance, Cosgrave highlighted that “in the last nine years Lisbon has transformed”.
And “the Web Summit, I would say, played some role in that. I think the ingredients were already there and so it’s amazing to have been able to play (…) possibly a small role in that,” he added.
The contract signed with the Portuguese State provides for the summit to be held in Lisbon by 2028.
“As far as 2028 goes, when we think about 2024, for me in technological terms, 2028 is like we’re almost in the next century,” he started by saying.
However, “the Web Summit fits perfectly with Lisbon, and I hope we can (…) stay here forever”, he added.
Asked about what he learned last year, a period in which he left the executive presidency of the Web Summit following comments on social media about Israel’s actions in Gaza after the Hamas attack, Cosgrave said: “It gave me a great opportunity to really reflect on what the Web Summit was ultimately about.”
And “I think we’ve made the most considerable changes to Web Summit in a decade. I was able to talk to a lot of friends who have been attending for years, a lot of attendees, and really understand the essence of what Web Summit is, which is connecting people and ideas” , he said.
With two more events – in Qatar and Rio de Janeiro – Web Summit revenue rose this year.
“We increased revenue by almost 30%, an all-time record, it was a very profitable year,” he said, pointing out that they made “maybe four to five million in profit and 10 to 11 million in EBITDA (profit before taxes, interest, depreciation and amortization)”, he highlighted.
Cosgrave also said that ‘big tech’ returned to the event this year, with the exception of Intel and Volkswagen.
Regarding the venue in Lisbon, the CEO said that they are “using all available spaces”.
This year they are occupying the outdoor space with tables and chairs, which has worked because the weather has been sunny.
“We were very lucky with the weather in Lisbon. Today it is a little colder, but it is still sunny. It was absolutely beautiful yesterday. And we will pray that it doesn’t rain tomorrow (Thursday). Regarding the future, we are always willing to discuss and talk”, he concluded.
Source: expresso.pt
