SurveyMonkey

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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 asNASDAQSVMK
Russell 2000 Index component
Founded1999; 21 years ago (1999)[2]
HeadquartersOne Curiosity Way,
San Mateo, CA 94403
United States[citation needed]
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
RevenueIncrease$233.5mm (LTM 6/30/18)
URLwww.surveymonkey.com
RegistrationRequired for creating a survey
Users25,000,000
Written in.NET, Python

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.[citation needed]

The company went public in September 2018.[7]

History[edit]

Founding[edit]

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[edit]

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[edit]

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[edit]

References[edit]

  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. ^ a b 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.

External links[edit]