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SurveyMonkey

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SurveyMonkey
File:SurveyMonkey Logo.png
Type of businessPrivate
Available inDansk, Deutsch, English, Español, Français, 한국어, Italiano, Nederlands, 日本語, Norsk, Português, Русский, Suomi, Svenska, 中文(繁體), Türkçe
Founded1999 (1999)[1]
Headquarters101 Lytton Avenue,
Palo Alto, CA 94301
United States [2]
No. of locationsPalo Alto, Portland, Seattle, Dublin, Ottawa
Area servedWorldwide
Founder(s)Ryan Finley, Chris Finley
CEOBill Veghte, CEO [3]
IndustryOnline survey services
ProductsOnline survey tools
Revenue$113m[4]
URLSurveyMonkey.com
Registrationrequired for creating a survey
Users15,000,000
Written in.NET, Python

SurveyMonkey is an online survey[7] development cloud-based ("software as a service") company, founded in 1999 by Ryan Finley. SurveyMonkey provides free, customizable surveys, as well as a suite of paid back-end programs that include data analysis, sample selection, bias elimination, and data representation tools.[8] In addition to providing free and paid plans for individual users, SurveyMonkey offers more large-scale enterprise options for companies interested in data analysis, brand management, and consumer-focused marketing.[9] Since releasing its enterprise in 2013, business-focused services, SurveyMonkey has grown dramatically, opening a new headquarters in downtown Palo Alto.[4]

SurveyMonkey provides data collection, data analysis, brand management, and consumer marketing for Facebook, Virgin America, Salesforce.com, Samsung, and Kraft Foods, among others.[10]

As of 2015, SurveyMonkey has 25 million users completing 90 million surveys a month. The company was named to the Forbes Unicorn List in 2015. [11]

History

Founding

The company was majority-owned by Ryan and Chris Finley until 2009, when it was sold to a private equity consortium. SurveyMonkey CEO Dave Goldberg died suddenly on May 1, 2015 while on vacation abroad with his wife, Facebook executive Sheryl Sandberg.[12]

Starting August 3, Bill Veghte will replace the late David Goldberg as SurveyMonkey CEO. Veghte held top posts at HP and Microsoft, and attended Harvard with Goldberg. He credits the SurveyMonkey founder as a mentor.

In 2010, the company received US$100 million in debt financing from Bank of America Merrill Lynch and SunTrust Robinson Humphrey.[13]

In 2013, the company raised $800 million in debt and equity valuing the company at $1.35 billion.[14]

Expansion

In 2012, the company launched SurveyMonkey Audience with self-serve technology, as a whole new way for businesses to reach the right people to gain valuable insights. This new option gives customers unprecedented control by enabling them to select exactly who should take their survey, saving businesses weeks of time and thousands of dollars when deploying research projects.

In 2013, SurveyMonkey had 15 million users.[1]

In September 2013, the company announced HIPAA (Health Insurance Portability & Accountability Act) compliant features for premium subscription holders.[15]

In November 2013, the company announced a new product—SurveyMonkey Enterprise. Organizations can manage users, data, and billing while on the survey platform.[16]

In 2014, the company raised $250 million in equity financing from Google Capital, Tiger Global Management, Baillie Gifford, T. Rowe Price and Morgan Stanley. [17]

In April 2015, the company announced a new data platform, Benchmarks, which allows customers to compare their survey results against competitors. [18] Benchmarks is the second tool contributing to SurveyMonkey’s move towards a data business; SurveyMonkey Audience, launched in 2011, allowing customers to send their survey to a select group of respondents. [19]

Partnerships

In February 2013, SurveyMonkey announced their partnership with API management platform, Mashery. This allows for the integration of third party apps and widgets into SurveyMonkey’s core tool. Currently, the company has partnerships with Eventbrite, MailChimp, Zendesk, Pick1[20] and others.[21]

In 2014, SurveyMonkey announced partnerships with Salesforce and Marketo.

Pure Storage has cited SurveyMonkey as one of its clients for its flash-based data centres.[22]

Acquisitions

The company has acquired three other survey tools, Precision Polling, Wufoo, and Zoomerang, as well as a stake in the UK-based Clicktools.[citation needed] In August 2014, SurveyMonkey acquired Canadian company Fluidware, creators of FluidSurveys.com and FluidReview.com.[23]

Corporate

There are offices in Palo Alto, California; Portland, Oregon; Seattle, Washington; Dublin, Ireland; Ottawa, Ontario; and Luxembourg.[2]

SurveyMonkey's Board of Directors includes Finley, former Facebook CFO David Ebersman, former Verisign CFO Dana L. Evan, Lee Fixel, Senior Vice President of Media at GoPro Zander Lurie, Facebook COO Sheryl Sandberg, and Benjamin C. Spero. Lurie was named Chairman of the Board in July 2015.[24][25]

The company runs on a freemium[26] business model.

Interoperability

Due to its relative ubiquity, a range of on and off-platform tools have sprung up to manipulate and expand upon Survey Monkey data. [27] A number of these are profiled by the company in its blog.[28]

See also

References

  1. ^ a b Scott, Martin (27 August 2012). "Customer research easier in digital era". USA Today. Retrieved 20 February 2013.
  2. ^ a b "Contact SurveyMonkey". SurveyMonkey. Retrieved 2014-05-07.
  3. ^ "SurveyMonkey Announces new CEO". Business Insider. Retrieved 2014-07-25.
  4. ^ a b Quentin, Hardy. "SurveyMonkey Releases Business Version of Popular Questionnaire Software". The New York Times. Retrieved 27 May 2014.
  5. ^ "Surveymonkey.com Site Info". Alexa Internet. Retrieved 2013-02-18.
  6. ^ http://www.surveymonkey.com/. {{cite web}}: Missing or empty |title= (help)
  7. ^ "How to Use Online Tools for Customer Surveys". Inc. 30 July 2010. Retrieved 20 February 2013.
  8. ^ "SurveyMonkey "How it works"". SurveyMonkey. Retrieved 27 May 2014.
  9. ^ "SurveyMonkey "Enterprise"". SurveyMonkey. Retrieved 27 May 2014.
  10. ^ "SurveyMonkey "Home"". SurveyMonkey. Retrieved 27 May 2014.
  11. ^ http://www.forbes.com/sites/alexkonrad/2015/04/02/surveymonkey-now-allows-you-to-compare-data-with-rivals-for-a-price/
  12. ^ King, Hope (May 2, 2015). "Dave Goldberg, husband of Facebook exec Sheryl Sandberg, dies suddenly". CNN Money. Retrieved May 2, 2015.
  13. ^ Lynley, Matthew (November 3, 2010). "SurveyMonkey bucks the trend, picks up $100M in debt financing". Venturebeat.com.
  14. ^ Lashinsky, Adam (2013-01-17). "Why SurveyMonkey is holding off on an IPO - Fortune Tech". Tech.fortune.cnn.com. Retrieved 2014-03-03.
  15. ^ "SurveyMonkey Protects Patient Privacy with new HIPAA Features". MarketWatch. Retrieved 2014-03-03.
  16. ^ Konrad, Alex (2013-11-18). "SurveyMonkey Jumps Into Enterprise Market With New Product For Businesses". Forbes. Retrieved 2014-03-03.
  17. ^ http://fortune.com/2014/12/15/surveymonkey-is-worth-2-billion-after-latest-fundraising-round/
  18. ^ http://www.prnewswire.com/news-releases/surveymonkey-launches-audience-service-for-consumer-insights-172079281.html
  19. ^ http://www.prnewswire.com/news-releases/surveymonkey-launches-audience-service-for-consumer-insights-172079281.html
  20. ^ "Pick1.com". Pick1. Retrieved 2014-03-24.
  21. ^ "Enquêtepartners - Integraties, services en providers" (in Dutch). SurveyMonkey. Retrieved 2014-03-03.
  22. ^ "This startup wants to be the Apple of the data center". Fortune. Retrieved 2015-07-25.
  23. ^ MacMillan, Douglas (2014-08-05). "SurveyMonkey Acquires Smaller Canadian Rival". Retrieved 2014-09-17.
  24. ^ "SurveyMonkey - About Us". surveymonkey.com. Retrieved July 6, 2015.
  25. ^ Quentin Hardy (July 6, 2015). "Sheryl Sandberg Joins SurveyMonkey's Board". NY Times.
  26. ^ "SurveyMonkeyFreemium.org". Freemium. 2012-07-12. Retrieved 2014-03-03.
  27. ^ "Survey Monkey and Excel | Excel Lemon". www.excellemon.com. Retrieved 2015-07-25.
  28. ^ "The 5 Best Integrations to Help Analyze Your SurveyMonkey Data | SurveyMonkey Blog". Retrieved 2015-07-25.
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