SurveyMonkey

SurveyMonkey
Type of business Private
Available in Dansk, Deutsch, English, Español, Français, 한국어, Italiano, Nederlands, 日本語, Norsk, Português, Русский, Suomi, Svenska, 中文(繁體), Türkçe[1]
Founded 1999 (1999)[2]
Headquarters 101 Lytton Avenue,
Palo Alto, CA 94301
United States[3]
No. of locations Palo Alto, Portland, Seattle, Dublin, Ottawa, London, Sydney[4]
Area served Worldwide
Founder(s) Ryan Finley, Chris Finley
CEO Zander Lurie, CEO[5]
Industry Online survey services
Products Online survey tools
Revenue $113m[6]
Slogan(s) The best decisions start here
Website SurveyMonkey.com
Alexa rank Steady 457 (August 2013)[7]
Registration required for creating a survey
Users 25,000,000
Written in .NET, Python

SurveyMonkey is an online survey[8] 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.[9] 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.[10] Since releasing its enterprise in 2013, business-focused services, SurveyMonkey has grown dramatically, opening a new headquarters in downtown Palo Alto.[6]

SurveyMonkey provides data collection, data analysis, brand management, and consumer marketing for Facebook, Virgin America, Salesforce.com, Samsung, and Kraft Foods, among others.[11]

As of 2015, SurveyMonkey has 25 million users, and receives 90 million survey responses a month. The company was named to the Forbes Unicorn List in 2015.[12] In 2016, SurveyMonkey was ranked #6 on the Forbes Cloud 100 list.[13]

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.[14]

Starting August 3, 2015 Bill Veghte replaced 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. Veghte held the role for less than 6 months, due to strategic differences with investors, primarily on where to allocate talent and resources. He was replaced by Zander Lurie in January 2016.

In 2010, the company received US$100 million in debt financing from Bank of America Merrill Lynch and SunTrust Robinson Humphrey.[15]

In 2013, the company raised $800 million in debt and equity valuing the company at $1.35 billion.[16]

Expansion

In 2012, the company launched a self-serve analytics platform called Audience, allowing customers to send their survey to a select group of respondents.

As of 2013, SurveyMonkey had 15 million users.[2]

In September 2013, the company announced HIPAA-compliant features for premium subscription holders.[17] In November 2013, the company announced a new enterprise product with additional management capabilities.[18]

In 2014, the company raised $250 million in equity financing from Google Capital, Tiger Global Management, Baillie Gifford, T. Rowe Price and Morgan Stanley.[19]

In April 2015, the company announced a new data platform called Benchmarks. This allows users to compare their survey results against competitors.[20]

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[21] Zignal labs[22] and others.[23]

In 2014, SurveyMonkey announced partnerships with Salesforce and Marketo.

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]

Corporate

The SurveyMonkey office in Palo Alto, California.

There are offices in Palo Alto, California; Portland, Oregon; Seattle, Washington; Dublin, Ireland; Ottawa, Ontario; and Luxembourg.[3]

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.[26][27]

The company runs on a freemium[28] business model.

See also

References

  1. ↑ "SurveyMonkey: Free online survey software & questionnaire tool". Retrieved 24 July 2016.
  2. 1 2 Scott, Martin (27 August 2012). "Customer research easier in digital era". USA Today. Retrieved 20 February 2013.
  3. 1 2 "Contact SurveyMonkey". SurveyMonkey. Retrieved 2014-05-07.
  4. ↑ "SurveyMonkey Office Locations". Retrieved 24 July 2016.
  5. ↑ "Lurie Departs GoPro to Take CEO Job at SurveyMonkey". Recode. Retrieved 2016-01-13.
  6. 1 2 Quentin, Hardy. "SurveyMonkey Releases Business Version of Popular Questionnaire Software". The New York Times. Retrieved 27 May 2014.
  7. ↑ "Surveymonkey.com Site Info". Alexa Internet. Retrieved 2013-02-18.
  8. ↑ "How to Use Online Tools for Customer Surveys". Inc. 30 July 2010. Retrieved 20 February 2013.
  9. ↑ "SurveyMonkey "How it works"". SurveyMonkey. Retrieved 27 May 2014.
  10. ↑ "SurveyMonkey "Enterprise"". SurveyMonkey. Retrieved 27 May 2014.
  11. ↑ "SurveyMonkey "Home"". SurveyMonkey. Retrieved 27 May 2014.
  12. ↑ Konrad, Alex. "Spurning IPO, SurveyMonkey Now Allows You To Compare Data With Rivals". Retrieved 24 July 2016.
  13. ↑ "Forbes Cloud 100". Forbes. Retrieved 29 October 2016.
  14. ↑ King, Hope (May 2, 2015). "Dave Goldberg, husband of Facebook exec Sheryl Sandberg, dies suddenly". CNN Money. Retrieved May 2, 2015.
  15. ↑ Lynley, Matthew (November 3, 2010). "SurveyMonkey bucks the trend, picks up $100M in debt financing". Venturebeat.com.
  16. ↑ Lashinsky, Adam (2013-01-17). "Why SurveyMonkey is holding off on an IPO - Fortune Tech". Tech.fortune.cnn.com. Retrieved 2014-03-03.
  17. ↑ "SurveyMonkey Protects Patient Privacy with new HIPAA Features". MarketWatch. Retrieved 2014-03-03.
  18. ↑ Konrad, Alex (2013-11-18). "SurveyMonkey Jumps Into Enterprise Market With New Product For Businesses". Forbes. Retrieved 2014-03-03.
  19. ↑ "SurveyMonkey is worth $2 billion after new $250 million fundraising round". 15 December 2014. Retrieved 24 July 2016.
  20. ↑ SurveyMonkey. "SurveyMonkey Launches "Audience" Service for Consumer Insights". Retrieved 24 July 2016.
  21. ↑ "Pick1.com". Pick1. Retrieved 2014-03-24.
  22. ↑ "SurveyMonkey Zignal Labs Partnership". www.prweek.com. Retrieved 2016-12-02.
  23. ↑ "Enquêtepartners - Integraties, services en providers" (in Dutch). SurveyMonkey. Retrieved 2014-03-03.
  24. ↑ SurveyMonkey Acquires Interest in Clicktools, About Us, SurveyMonkey corporate website, 11 January 2011 Retrieved 27 October 2016
  25. ↑ MacMillan, Douglas (2014-08-05). "SurveyMonkey Acquires Smaller Canadian Rival". Retrieved 2014-09-17.
  26. ↑ "SurveyMonkey - About Us". surveymonkey.com. Retrieved July 6, 2015.
  27. ↑ Quentin Hardy (July 6, 2015). "Sheryl Sandberg Joins SurveyMonkey's Board". NY Times.
  28. ↑ "SurveyMonkeyFreemium.org". Freemium. 2012-07-12. Retrieved 2014-03-03.
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