CEO and founder of the Web Summit Paddy Cosgrave

Adrian Wreckler, on, reports:

Paddy Cosgrave’s Web Summit has secured a whopping €110m from the Portuguese government to stay in Lisbon for the next 10 years.

The company had been engaged in “a competitive tender process” with other European cities over the last year.

The deal also includes what the Web Summit describes as a “€3 billion buyout clause”, should another city want to tempt the event away from Lisbon.

Paddy Cosgrave’s Web Summit secures new €110m deal to stay in Lisbon for ten years (


16 thoughts on “How Much?

  1. Daisy Chainsaw

    At this stage, I’m surprised Cosgrave didn’t trade on the famous name and run for president… or maybe he’s waiting til 2025.

    1. Just Sayin

      I expect he views Ireland as being too small, probably has ambitions to be president of a bigger country.

  2. McVitty

    It’s just a massive self-promotion and social media marketing event from what I’ve seen with a bunch of evangelist thought-leadership aspects to it…people taking credit for all sorts of wonderful things but the real value of their product is the ability to seize your internet cookies and productise you.

    Not dissimilar to the Dreamforce event in San Francisco last week where they claimed to be making the world safer with their CRM software. Please.

Comments are closed.