SurveyMonkey

SurveyMonkey
Type Private
Founded 1999[1]
Headquarters 101 Lytton Avenue,
Palo Alto, CA 94301
United States [2]
No. of locations Palo Alto, Portland, Seattle, Dublin, Ottawa
Area served Worldwide
Founder(s) Ryan Finley, Chris Finley
CEO Dave Goldberg, CEO[1]
Industry Online survey services
Products Online survey tools
Revenue $113m[3]
Slogan(s) The best decisions start here
Website SurveyMonkey.com
Written in .NET, Python
Alexa rank Steady 457 (August 2013)[4]
Registration required for creating a survey
Users 15,000,000
Available in Dansk, Deutsch, English, Español, Français, 한국어, Italiano, Nederlands, 日本語, Norsk, Português, Русский, Suomi, Svenska, 中文(繁體), Türkçe

SurveyMonkey is an online survey[5] 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.[6] In addition to providing free and paid plans for individual users, SurveyMonkey offers more large scale enterprise options for companies interested in both data analysis, brand management, and consumer focused marketing.[7] Since releasing its enterprise in 2013, business-focused services, SurveyMonkey has grown dramatically, opening a new headquarters in downtown Palo Alto.[3]

SurveyMonkey provides data collection, data analysis, brand management, and consumer marketing for Facebook, Virgin America, Salesforce.com, Samsung, and Kraft Foods, among others.[8]

As of 2015, SurveyMonkey has 25 million users completing 90 million surveys a month. The company was named to Forbes Unicorn List in 2015. [9]

History

Founding

The company was majority-owned by Ryan and Chris Finley until 2009, when it was sold to a private equity consortium. David Goldberg (husband of Facebook COO Sheryl Sandberg) is SurveyMonkey's current CEO.[10]

In 2010, the company received US$100 million in debt financing from Bank of America Merrill Lynch and SunTrust Robinson Humphrey.[11]

In 2013, the company raised $800 million in debt and equity valuing the company at $1.35 billion.[12]

Expansion

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.[13]

In November 2013, the company announced a new product—SurveyMonkey Enterprise. Organizations can manage users, data, and billing while on the survey platform.[14]

In 2014, the company raised $250 million in equity financing from Google Capital, Tiger Global Management, Baillie Gifford, T. Rowe Price and Morgan Stanley. [15]

In April 2015, the company announced a new data platform, Benchmarks, which allows customers to compare their survey results against competitors. [16] 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. [17]

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[18] and others.[19]

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 stake in the UK-based Clicktools. In August 2014, SurveyMonkey acquired Canadian company Fluidware, creators of FluidSurveys.com and FluidReview.com.[20]

Corporate

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

The company runs on a freemium[21] business model.

See also

References

  1. ↑ 1.0 1.1 1.2 Scott, Martin (27 August 2012). "Customer research easier in digital era". USA Today. Retrieved 20 February 2013.
  2. ↑ 2.0 2.1 "Contact SurveyMonkey". SurveyMonkey. Retrieved 2014-05-07.
  3. ↑ 3.0 3.1 Quentin, Hardy. "SurveyMonkey Releases Business Version of Popular Questionnaire Software". The New York Times. Retrieved 27 May 2014.
  4. ↑ "Surveymonkey.com Site Info". Alexa Internet. Retrieved 2013-02-18.
  5. ↑ "How to Use Online Tools for Customer Surveys". Inc. 30 July 2010. Retrieved 20 February 2013.
  6. ↑ "SurveyMonkey "How it works"". SurveyMonkey. Retrieved 27 May 2014.
  7. ↑ "SurveyMonkey "Enterprise"". SurveyMonkey. Retrieved 27 May 2014.
  8. ↑ "SurveyMonkey "Home"". SurveyMonkey. Retrieved 27 May 2014.
  9. ↑ http://www.forbes.com/sites/alexkonrad/2015/04/02/surveymonkey-now-allows-you-to-compare-data-with-rivals-for-a-price/
  10. ↑ Helft, Miguel (2013-10-10). "Sheryl Sandberg: The real story". Fortune (Time Inc.). Retrieved 2013-10-11.
  11. ↑ Lynley, Matthew (November 3, 2010). "SurveyMonkey bucks the trend, picks up $100M in debt financing". Venturebeat.com.
  12. ↑ Lashinsky, Adam (2013-01-17). "Why SurveyMonkey is holding off on an IPO - Fortune Tech". Tech.fortune.cnn.com. Retrieved 2014-03-03.
  13. ↑ "SurveyMonkey Protects Patient Privacy with new HIPAA Features". MarketWatch. Retrieved 2014-03-03.
  14. ↑ Konrad, Alex (2013-11-18). "SurveyMonkey Jumps Into Enterprise Market With New Product For Businesses". Forbes. Retrieved 2014-03-03.
  15. ↑ http://fortune.com/2014/12/15/surveymonkey-is-worth-2-billion-after-latest-fundraising-round/
  16. ↑ http://www.prnewswire.com/news-releases/surveymonkey-launches-audience-service-for-consumer-insights-172079281.html
  17. ↑ http://www.prnewswire.com/news-releases/surveymonkey-launches-audience-service-for-consumer-insights-172079281.html
  18. ↑ "Pick1.com". Pick1. Retrieved 2014-03-24.
  19. ↑ "Enquêtepartners - Integraties, services en providers" (in Dutch). SurveyMonkey. Retrieved 2014-03-03.
  20. ↑ MacMillan, Douglas (2014-08-05). "SurveyMonkey Acquires Smaller Canadian Rival". Retrieved 2014-09-17.
  21. ↑ "SurveyMonkeyFreemium.org". Freemium. 2012-07-12. Retrieved 2014-03-03.

External links