SurveyMonkey

SVMK Inc., doing business as SurveyMonkey, is an online survey[6] development cloud-based software as a service company. It was founded in 1999 by Ryan Finley and Chris Finley. The company provides surveys, and a suite of paid back-end programs.

SVMK Inc.
Type of businessPublic company
Available inDansk, Deutsch, English, Español, Français, 한국어, Italiano, Nederlands, 日本語, Norsk, Português, Русский, Suomi, Svenska, 中文(繁體), Türkçe[1]
Traded asNASDAQ: SVMK
Russell 2000 Index component
Founded1999 (1999)[2]
HeadquartersOne Curiosity Way,
San Mateo, CA 94403
United States
No. of locationsSan Mateo, Portland, Seattle, Dublin, Ottawa, London, Sydney[3]
Area servedWorldwide
Founder(s)Ryan Finley
Chris Finley
CEOZander Lurie, CEO[4]
Key peopleSerena Williams[5]board of directors
David Ebersmanboard of directors
Sheryl Sandbergboard of directors
Susan Deckerboard of directors
Brad D. Smithboard of directors
IndustrySAAS / Online survey services
ProductsCloud-based survey software
Revenue$233.5mm (LTM 6/30/18)
URLwww.surveymonkey.com
RegistrationRequired for creating a survey
Users25,000,000
Written in.NET, Python

The company went public in September 2018.[7]

History

Founding

The company was owned by Ryan and Chris Finley until Spectrum Equity and Bain Capital acquired a majority interest in the company in 2009.[8]

Dave Goldberg joined SurveyMonkey in 2009.[9]

SurveyMonkey Headquarters in San Mateo, CA

Expansion

In 2010, the company received US$100 million in debt financing from Bank of America Merrill Lynch and SunTrust Robinson Humphrey.[10]

In 2013, the company raised $800 million in debt and equity valuing the company at $1.35 billion.[11] In September 2013, the company announced HIPAA-compliant features for premium subscription holders.[12] In November 2013, the company announced a new enterprise product with additional management capabilities.[13]

In 2014, the company raised $250 million in equity financing from Google Capital (now CapitalG), Tiger Global Management, Baillie Gifford, T. Rowe Price and Morgan Stanley.[14]

Dave Goldberg died in May 2015.[9]

Zander Lurie was named chairman of the board in July 2015.[15]

Starting August 3, 2015, Bill Veghte replaced Goldberg as SurveyMonkey CEO. Veghte held top posts at HP and Microsoft.[16] Veghte left the role after fewer than 6 months due to strategic differences with investors.[17] Veghte was replaced by Zander Lurie in January 2016.

In 2017, the company rolled out "SurveyMonkey Genius" which estimates survey performance and makes actionable suggestions to increase survey effectiveness.[18] In August 2017, the company launched "SurveyMonkey CX" which assists organizations in managing their customer experience programs.[19]

On September 26, 2018, SurveyMonkey (SVMK) made its debut on the NASDAQ Exchange. [20] The stock launched at $12 per share and rose 43% on the first day of trading.[21]

Emory University Goizueta Business School dean Erika James joined the SurveyMonkey board of directors in 2018, creating Gender Parity on the company's board.[22][23]

Acquisitions

The company has acquired three other survey tools, Precision Polling, Wufoo, and Zoomerang, as well as a 49.9 percent stake in the UK-based Clicktools.[24] In August 2014, SurveyMonkey acquired Canadian company Fluidware, the creator of FluidSurveys.com and FluidReview.com.[25] In August, 2015, SurveyMonkey acquired TechValidate,[26] a marketing content automation company.[27] In March 2019, SurveyMonkey acquired Usabilla, an Amsterdam-based website and app survey company, for $80 million in cash and stock.[28] In August 2019, SurveyMonkey acquired GetFeedback, a San Francisco-based customer experience management company.[29]

See also

References
  1. "SurveyMonkey: Free online survey software & questionnaire tool". Retrieved 24 July 2016.
  2. Scott, Martin (27 August 2012). "Customer research easier in digital era". USA Today. Retrieved 20 February 2013.
  3. "SurveyMonkey Office Locations". Retrieved 24 July 2016.
  4. "Lurie Departs GoPro to Take CEO Job at SurveyMonkey". Recode. Retrieved 2016-01-13.
  5. "Serena Williams on International Women's Day: 'We Must Band Together to Fight for What's Fair'". Fortune. Retrieved 29 March 2019.
  6. "How to Use Online Tools for Customer Surveys". Inc. 30 July 2010. Retrieved 20 February 2013.
  7. Waters, Richard (26 September 2018). "SurveyMonkey shares jump by 60% after Wall Street IPO". Retrieved 28 September 2018.
  8. "SurveyMonkey Receives Investment From Spectrum Equity". Spectrum Equity. Retrieved January 15, 2019.
  9. King, Hope (May 2, 2015). "Dave Goldberg, husband of Facebook exec Sheryl Sandberg, dies suddenly". CNN Money. Retrieved May 2, 2015.
  10. Lynley, Matthew (November 3, 2010). "SurveyMonkey bucks the trend, picks up $100M in debt financing". Venturebeat.com.
  11. Lashinsky, Adam (2013-01-17). "Why SurveyMonkey is holding off on an IPO - Fortune Tech". Tech.fortune.cnn.com. Retrieved 2014-03-03.
  12. "SurveyMonkey Protects Patient Privacy with new HIPAA Features". MarketWatch. Retrieved 2014-03-03.
  13. Konrad, Alex (2013-11-18). "SurveyMonkey Jumps Into Enterprise Market With New Product For Businesses". Forbes. Retrieved 2014-03-03.
  14. "SurveyMonkey is worth $2 billion after new $250 million fundraising round". 15 December 2014. Retrieved 24 July 2016.
  15. Quentin Hardy (July 6, 2015). "Sheryl Sandberg Joins SurveyMonkey's Board". NY Times.
  16. Zhang, Maggie (July 7, 2015). "HP's Bill Veghte Joins SurveyMonkey As New CEO". Forbes Tech. Retrieved October 7, 2017.
  17. "Veghte out and Lurie in as SurveyMonkey CEO". ResearchLive. 15 January 2016. Retrieved October 7, 2017.
  18. "SurveyMonkey Announces People Powered Data Platform". DestinationCRM. 17 July 2017. Retrieved 5 February 2019.
  19. "Can SurveyMonkey and Zoho Disrupt Enterprise Software?". CustomerThink. 10 August 2017. Retrieved 5 February 2019.
  20. "SurveyMonkey surges 42% in market debut, ends trading at $17 a share". CNBC. Retrieved December 21, 2018.
  21. "Survey Monkey Pops 43% on IPO". The Street. Retrieved December 21, 2018.
  22. "SurveyMonkey's board is now 50% women". Fast Company. Retrieved 29 March 2019.
  23. Mandel, Eric (14 August 2018). "SurveyMonkey adds Emory dean to board of directors, balancing its gender representation". www.bizjournals.com. Retrieved 2019-11-07.
  24. "SurveyMonkey Acquires A 49.9 Percent Stake In Clicktools". TechCrunch. TechCrunch. January 11, 2011. Retrieved April 21, 2020.
  25. MacMillan, Douglas (2014-08-05). "SurveyMonkey Acquires Smaller Canadian Rival". Retrieved 2014-09-17.
  26. TechValidate
  27. King, Rachel (2015-08-04). "SurveyMonkey bulking up B2B platform with TechValidate acquisition". Retrieved 2019-01-27.
  28. "SurveyMonkey acquires web survey company Usabilla for $80M". TechCrunch. Retrieved 2019-05-13.
  29. Kawamoto, Dawn (August 5, 2019). "SurveyMonkey is acquiring this Salesforce Ventures' portfolio company for $68M". Biz Journals. Biz Journals. Retrieved April 21, 2020.
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