Speaking about the deal with Lisbon, Cosgrave explained, "it was exciting to sign the deal last week and very meaningful for us as an Irish company. Over the course of the last 18 months, we've been talking with cities all over Europe and got down to a shortlist that included major cities from Germany, France, the UK, Spain, Italy, and Portugal. We got down to a final three which were Berlin, Madrid, and Lisbon".

The company decided on Lisbon which has hosted Web Summit for the past three years and will be going forward for the next decade.

Cosgrave went on to speak about other events the Dublin based company had started, with one in the competitive North American market and another in Asia, both growing at an unprecedented rate. He added that the company has intentions of increasing the number of events and conferences in Ireland in the future.

As for employment, Cosgrave emphasized how important it was that Web Summit showcased how to build a successful 21st-century company, found and run in Ireland. "You don't need to be an American company with a back office in Dublin. It's possible to build an Irish headquartered and Irish led company," Cosgrave explained.

Adding to this point he spoke about the number of successes the company's former employees have had, such as the former head of live events who is now the head of live events at Apple in California, and Peter O'Malley who has announced a funding round for new startup Advisable. "There's this kind of halo effect spinning out from Web Summit with people doing incredible things which is great to see".

Web Summit will be held in Lisbon from 5-8 November this year.