Formerly | Momentive Global Inc. (2021–23) |
---|---|
Company type | Private (1999–2018, since 2023) |
Industry |
|
Founded | 1999[1] |
Founders |
|
Headquarters | San Mateo, California, U.S. |
Number of locations | San Mateo, Portland, Dublin, Ottawa, London, Amsterdam, Sydney [2] |
Area served | Worldwide |
Key people | Eric Johnson (CEO) [3] |
Products | Cloud-based experience management and survey software |
Revenue | US$481 million (2022) |
US$−81 million (2022) | |
US$−90 million (2022) | |
Total assets | US$810 million (2022) |
Total equity | US$287 million (2022) |
Owner | Symphony Technology Group |
Number of employees | 1,300 (November 2023) |
Website |
surveymonkey |
Footnotes / references [4] |
SurveyMonkey Inc. (formerly Momentive Global Inc. for a short period) is an experience management company that offers cloud-based software in brand insights, market insights, product experience, employee experience, customer experience, online survey development, and a suite of paid back-end programs. [5] [6]
Along with a 200,000 square foot headquarter building in San Mateo, California, SurveyMonkey has offices in Portland, Ottawa, Dublin, Amsterdam, London, and Sydney. [7] As of 2022 [update], SurveyMonkey employed around 1,400 people. [4]
On June 9, 2021, SurveyMonkey announced its rebrand to Momentive with the intent to better represent their business-to-business product suite. SurveyMonkey will continue to operate as a subsidiary survey platform. [8] The Momentive Inc. product portfolio includes Momentive, GetFeedback, and SurveyMonkey. [6]
Two years later in June 2023 the company rebranded itself back to SurveyMonkey after getting acquired by an investor group led by Symphony Technology Group. [3] [9]
SurveyMonkey was founded by Ryan Finley and Chris Finley in 1999. In 2009, Spectrum Equity and Bain Capital acquired a majority interest in the company. [10] The same year, Dave Goldberg joined SurveyMonkey as CEO. [11]
The company went public under the name SurveyMonkey ( Nasdaq: SVMK) on September 25, 2018. [12]
In 2010, the company received $100 million in debt financing from Bank of America Merrill Lynch and SunTrust Robinson Humphrey. [13] By 2013, SurveyMonkey raised $800 million in debt and equity valuing the company at $1.35 billion. [14] In September 2013, the company announced HIPAA-compliant features for premium subscription holders. [15]
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. [16]
Dave Goldberg died in May 2015, and Zander Lurie was named chairman of the board in July of the same year. [17] [18]
On August 3, 2015, Bill Veghte replaced Goldberg as SurveyMonkey CEO. Veghte held top posts at HP and Microsoft. [19] Veghte left the role after fewer than 6 months due to strategic differences with investors and was replaced by Zander Lurie in January 2016. [20]
In February 2016, SurveyMonkey began polling public opinion using the SurveyMonkey platform. [21] Poll aggregator FiveThirtyEight gives the poll a 'C' rating. [21]
In 2017, the company rolled out "SurveyMonkey Genius" which estimates survey performance and makes actionable suggestions to increase survey effectiveness. [22] In August, the company launched "SurveyMonkey CX" which assists organizations in managing their customer experience programs. [23]
On September 26, 2018, SurveyMonkey (SVMK) made its debut on the NASDAQ Exchange. [24] The stock launched at $12 per share and rose 43% on the first day of trading. [25]
Emory University Goizueta Business School dean Erika James joined the SurveyMonkey board of directors in 2018, creating Gender Parity on the company's board. [26] [27]
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. [28]
In August 2014, SurveyMonkey acquired Canadian company Fluidware, the creator of FluidSurveys.com and FluidReview.com. [29]
SurveyMonkey acquired TechValidate, a Canadian marketing content automation company in August 2015. [30]
By March 2019, SurveyMonkey acquired Usabilla, an Amsterdam-based website and app survey company, for $80 million in cash and stock. [31] That same year, SurveyMonkey acquired GetFeedback, a San Francisco-based customer experience management company, in August. [32]
On June 9, 2021, SurveyMonkey announced its rebrand as Momentive, a new entity that encompasses experience management and corporate insights solutions across a suite of products. Momentive includes SurveyMonkey, GetFeedback, and Momentive Insights. [33] [6]
On October 28, 2021, Zendesk announced that it had agreed to acquire MomentiveAI for about $4.1 billion, in an all-stock deal. [34] Chief executive Mikkel Svane of Zendesk said of the acquisition, "We have a big overlap in customers. It's incredibly powerful. And we believe that it will create a whole new, richer picture of your customers," according to Reuters. [35] Although shareholders of Momentive Global Inc. approved the deal, Zendesk's shareholders voted against the acquisition. [36] Subsequently the deal was terminated. [36]
In March 2023, a private equity consortium led by Symphony Technology Group agreed to acquire Momentive in an all-cash deal valued at $1.5 billion. [37] The acquisition completed in June that year. [9]