SurveyMonkey

{{Infobox company

| name = SurveyMonkey Inc.

| logo = SurveyMonkey Logo.svg

| image = One Franklin Parkway.jpg

| image_caption = Headquarters at Franklin Templeton Investments headquarters in San Mateo

| type = Private (1999–2018, since 2023)

| traded_as = {{unbulleted list|{{NASDAQ was|MNTV}} (2021–23)|{{NASDAQ was|SVMK}} (2018–21)}}

| former_names = Momentive Global Inc. (2021–23)

| foundation = {{Start date and age|1999}}{{cite news|last=Scott|first=Martin|title=Customer research easier in digital era|url=http://usatoday30.usatoday.com/MONEY/usaedition/2012-08-28-Efficient-Small-Business-Ecommerce_CV_U.htm|access-date=20 February 2013|newspaper=USA Today|date=27 August 2012}}

| hq_location = San Mateo, California, U.S.

| locations = San Mateo, Portland, Dublin, Ottawa, London, Amsterdam, Sydney{{cite web|url=https://www.surveymonkey.com/mp/aboutus/office-locations/|title=SurveyMonkey Office Locations|access-date=24 July 2016}}

| area_served = Worldwide

| founders = {{unbulleted list|Ryan Finley | Chris Finley}}

| industry = {{unbulleted list|Software as a service | Online survey services}}

| products = Cloud-based experience management and survey software

| revenue = {{increase}} {{US$|481 million|link=yes}} (2022)

| operating_income = {{increase}} {{US$|-81 million}} (2022)

| net_income = {{increase}} {{US$|-90 million}} (2022)

| assets = {{decrease}} {{US$|810 million}} (2022)

| equity = {{decrease}} {{US$|287 million}} (2022)

| key_people = Eric Johnson (CEO)

| owner = Symphony Technology Group

| num_employees = 1,300 (November 2023)

| website = {{url|surveymonkey.com}}

| footnotes =

}}

SurveyMonkey Inc. (formerly Momentive Global Inc. from 2021 to 2023) 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.{{Cite web|url=https://fortune.com/2021/06/09/surveymonkey-changes-name-momentive-expands-beyond-surveys/|title=SurveyMonkey changes its name as it expands beyond surveys|last=Vanian|first=Jonathan|date=9 June 2021|access-date=25 June 2021}}

Along with its San Mateo, California headquarters in leased space at Franklin Templeton Investments headquarters, SurveyMonkey also has offices in Portland, Ottawa, Dublin, Amsterdam, London, and Sydney.{{Cite web|url=https://www.bizjournals.com/sanfrancisco/news/2019/03/15/surveymonkey-modern-workplaces-san-mateo-office.html|title=Modern Workplaces: Inside SurveyMonkey's bananas office space in San Mateo|last=Boerner|first=Dean|date=15 March 2019|access-date=25 June 2021}} {{As of| 2022}}, SurveyMonkey employed around 1,400 people.{{Cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1739936/000095017023003212/mntv-20221231.htm|title=US SEC: Form 10-K Momentive Global, Inc.|publisher=U.S. Securities and Exchange Commission|date=17 February 2023}}

On June 9, 2021, SurveyMonkey announced its rebrand to Momentive with the intent to better represent their business-to-business product suite. SurveyMonkey continued to operate as a subsidiary survey platform.{{Cite web|url=https://www.forbes.com/sites/martyswant/2021/06/09/surveymonkey-rebrands-as-momentive-to-fuel-its-growing-enterprise-business/?sh=4f76edef2189|title=SurveyMonkey Rebrands As Momentive To Fuel Its Growing Enterprise Business|last=Swant|first=Marty|website=Forbes |date=9 June 2021|access-date=25 June 2021}} The Momentive Inc. product portfolio included Momentive, GetFeedback, and SurveyMonkey.{{Cite web|url=https://www.inc.com/guides/2010/07/how-to-use-online-tools-for-customer-surveys.html|title=How to Use Online Tools for Customer Surveys|date=15 June 2021|access-date=25 June 2021}}

In June 2023, the company rebranded itself back to SurveyMonkey after being acquired by an investor group led by Symphony Technology Group.{{cite web |url=https://www.research-live.com/article/news/momentive-replaces-ceo-and-changes-name-back-to-surveymonkey/id/5113423 |title=Momentive replaces CEO and changes name back to SurveyMonkey |date=15 June 2023}}

History

=Founding=

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.{{Cite web|url=https://www.forbes.com/sites/martyswant/2021/06/09/surveymonkey-rebrands-as-momentive-to-fuel-its-growing-enterprise-business/?sh=4f76edef2189|title=SurveyMonkey Rebrands As Momentive To Fuel Its Growing Enterprise Business|last=Swant|first=Marty|website=Forbes |date=9 June 2021|access-date=25 June 2021}} The same year, Dave Goldberg joined SurveyMonkey as CEO.{{Cite web|url=https://www.cnbc.com/2018/08/29/surveymonkey-is-going-public.html|title=SurveyMonkey files to go public, lost $27 million on $121 million in sales in first half of 2018|last=Novet|first=Jordan|website=CNBC |date=29 August 2018|access-date=25 June 2021}}

The company went public under the name SurveyMonkey (Nasdaq: SVMK) on September 25, 2018.{{Cite web|url=https://www.inc.com/guides/2010/07/how-to-use-online-tools-for-customer-surveys.html|title=How to Use Online Tools for Customer Surveys|date=15 June 2021|access-date=25 June 2021}}

=Expansion=

In 2010, the company received $100 million in debt financing from Bank of America Merrill Lynch and SunTrust Robinson Humphrey.{{Cite web|url=https://www.spectrumequity.com/news/surveymonkey-receives-investment-from-spectrum-equity|title=SurveyMonkey Receives Investment from Spectrum Equity|last=Equity|first=Spectrum|date=1 April 2009|access-date=25 June 2021}} By 2013, SurveyMonkey raised $800 million in debt and equity valuing the company at $1.35 billion.{{Cite web|url=https://venturebeat.com/2010/11/03/surveymonkey-debt-financing/|title=SurveyMonkey bucks the trend, picks up $100M in debt financing|last=Lynley|first=Matthew|date=3 November 2010|access-date=25 June 2021}} In September 2013, the company announced HIPAA-compliant features for premium subscription holders.{{Cite web|url=http://tech.fortune.cnn.com/2013/01/17/surveymonkey-ipo/|title=SurveyMonkey IPO|work=Fortune|date=25 June 2021|access-date=25 June 2021}}

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.{{Cite web|url=https://www.forbes.com/sites/alexkonrad/2013/11/18/surveymonkey-launches-enterprise-product/?sh=4fbb4b9e65e0|title=SurveyMonkey Jumps Into Enterprise Market With New Product For Businesses|last=Konrad|first=Alex|website=Forbes |date=18 November 2018|access-date=25 June 2021}}

Dave Goldberg died in May 2015, and Zander Lurie was named chairman of the board in July of the same year.{{Cite web|url=https://www.cnbc.com/2018/08/29/surveymonkey-is-going-public.html|title=SurveyMonkey files to go public, lost $27 million on $121 million in sales in first half of 2018|last=Novet|first=Jordan|website=CNBC |date=29 August 2018|access-date=25 June 2021}}{{Cite web|url=https://fortune.com/2014/12/15/surveymonkey-is-worth-2-billion-after-latest-fundraising-round/|title=SurveyMonkey is worth $2 billion after new $250 million fundraising round|last=Lorenzetti|first=Laura|date=15 December 2014|access-date=25 June 2021}}

On August 3, 2015, Bill Veghte replaced Goldberg as SurveyMonkey CEO. Veghte held top posts at HP and Microsoft.{{Cite web|url=https://bits.blogs.nytimes.com/2015/07/06/sheryl-sandberg-joins-surveymonkeys-board/?_r=0&mtrref=undefined&gwh=BAED67F055E64199A54CEFB5086CC0B6&gwt=pay&assetType=PAYWALL|title=Sheryl Sandberg Joins SurveyMonkey's Board|last=Hardy|first=Quentin|date=6 July 2015|access-date=25 June 2021}} Veghte left the role after fewer than 6 months due to strategic differences with investors and was replaced by Zander Lurie in January 2016.{{Cite web|url=https://www.forbes.com/sites/mzhang/2015/07/07/hps-bill-veghte-joins-survey-monkey-as-new-ceo/?sh=58e2b7005ef8|title=HP's Bill Veghte Joins SurveyMonkey As New CEO|last=Zhang|first=Maggie|website=Forbes |date=7 July 2015|access-date=25 June 2021}}

In February 2016, SurveyMonkey began polling public opinion using the SurveyMonkey platform.{{Cite web |last=Silver |first=Nate |date=2021-03-25 |title=Pollster Ratings - SurveyMonkey |url=https://projects.fivethirtyeight.com/pollster-ratings/ |archive-url=https://web.archive.org/web/20141005201227/http://projects.fivethirtyeight.com/pollster-ratings/ |url-status=dead |archive-date=October 5, 2014 |access-date=2022-03-29 |website=FiveThirtyEight |language=en}} Poll aggregator FiveThirtyEight gives the poll a 'C' rating.

In 2017, the company rolled out "SurveyMonkey Genius" which estimates survey performance and makes actionable suggestions to increase survey effectiveness.{{Cite web|url=https://www.research-live.com/article/news/veghte-out-and-lurie-in-as-surveymonkey-ceo-/id/5001462|title=VEGHTE OUT AND LURIE IN AS SURVEYMONKEY CEO|last=Live|first=Research|date=15 January 2016|access-date=25 June 2021}} In August, the company launched "SurveyMonkey CX" which assists organizations in managing their customer experience programs.{{Cite web|url=https://www.destinationcrm.com/Articles/ReadArticle.aspx?ArticleID=119389|title=SurveyMonkey Announces People Powered Data Platform|last=Del Rowe|first=Sam|date=17 July 2017|access-date=25 June 2021}}

On September 26, 2018, SurveyMonkey (SVMK) made its debut on the NASDAQ Exchange.{{Cite web |date=2018-09-25 |title=SurveyMonkey Announces Pricing of Initial Public Offering |url=https://www.businesswire.com/news/home/20180925006237/en/SurveyMonkey-Announces-Pricing-of-Initial-Public-Offering |access-date=2024-03-03 |website=www.businesswire.com |language=en}} The stock launched at $12 per share and rose 43% on the first day of trading.{{Cite web|url=https://www.cnbc.com/2018/09/26/surveymonkey-svmk-ipo-stock-starts-trading-on-the-nasdaq.html|title=SurveyMonkey surges 42% in market debut, ends trading at $17 a share|last=Salinas|first=Sara|website=CNBC |date=26 September 2018|access-date=25 June 2021}}

Emory University Goizueta Business School dean Erika James joined the SurveyMonkey board of directors in 2018, creating Gender Parity on the company's board.{{Cite web|url=https://www.thestreet.com/markets/ipos/survey-monkey-ipo-14724704|title=Survey Monkey Pops 43% on IPO|last=Sonenshine|first=Jacob|date=26 September 2018|access-date=25 June 2021}}{{Cite web|url=https://www.fastcompany.com/90218542/surveymonkeys-board-is-now-50-women|title=SurveyMonkey's board is now 50% women|last=Mohan|first=Pavithra|work=Fast Company |date=14 August 2018|access-date=25 June 2021}}

=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.{{Cite web|url=https://www.bizjournals.com/atlanta/news/2018/08/14/surveymonkey-adds-emory-dean-to-board-of-directors.html|title=SurveyMonkey adds Emory Dean to Board of Directors|last=Mandel|first=Eric|date=14 August 2018|access-date=25 June 2021}}

In August 2014, SurveyMonkey acquired Canadian company Fluidware, the creator of FluidSurveys.com and FluidReview.com.{{Cite web|url=https://techcrunch.com/2011/01/11/surveymonkey-clicktools/?guccounter=1|title= SurveyMonkey Acquires A 49.9 Percent Stake In Clicktools|last=Crunch|first=Tech|date=11 January 2011|access-date=25 June 2021}}

SurveyMonkey acquired TechValidate, a Canadian marketing content automation company in August 2015.{{Cite news|url=https://www.wsj.com/articles/BL-DGB-36910|title=SurveyMonkey Acquires Smaller Canadian Rival|last=MacMillan|first=Douglas|newspaper=Wall Street Journal |date=5 August 2014|access-date=25 June 2021}}

By March 2019, SurveyMonkey acquired Usabilla, an Amsterdam-based website and app survey company, for $80 million in cash and stock.{{Cite web|url= https://www.zdnet.com/article/surveymonkey-bulking-up-b2b-platform-with-techvalidate-acquisition/|title=SurveyMonkey bulking up B2B platform with TechValidate |last=King|first=Rachel|website=ZDNet |date=4 August 2015|access-date=25 June 2021}} That same year, SurveyMonkey acquired GetFeedback, a San Francisco-based customer experience management company, in August.{{Cite web|url=https://techcrunch.com/2019/03/05/surveymonkey-acquires-web-survey-company-usabilla-for-80m/|title=SurveyMonkey acquires web survey company Usabillla for $80M|last=Miller|first=Ron|date=5 March 2019|access-date=25 June 2021}}

=Transition to Momentive and buyout offers=

File:Momentive-logo.png

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.{{Cite web|url=https://fortune.com/2021/06/09/surveymonkey-changes-name-momentive-expands-beyond-surveys/|title=SurveyMonkey changes its name as it expands beyond surveys|last=Vanian|first=Jonathan|date=9 June 2021|access-date=25 June 2021}}

On October 28, 2021, Zendesk announced that it had agreed to acquire MomentiveAI for about $4.1 billion, in an all-stock deal.{{Cite news |date=2021-10-28 |title=Zendesk to Buy SurveyMonkey Parent Momentive Global |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2021-10-28/zendesk-to-buy-surveymonkey-parent-momentive-global |access-date=2021-10-30}} 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.{{Cite news|last1=Hu|first1=Krystal|last2=Hussain|first2=Noor Zainab|date=2021-10-28|title=Software services firm Zendesk to buy SurveyMonkey parent for nearly $4 bln|language=en|work=Reuters|url=https://www.reuters.com/technology/software-services-firm-zendesk-buy-surveymonkey-parent-nearly-4-bln-2021-10-28/|access-date=2021-10-30}} Although shareholders of Momentive Global Inc. approved the deal, Zendesk's shareholders voted against the acquisition.{{Cite news |last=Jacob |first=Denny |date=2022-02-25 |title=Zendesk Terminates Deal With SurveyMonkey Parent |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/zendesk-terminates-deal-with-surveymonkey-parent-11645830504 |access-date=2022-03-07 |issn=0099-9660}} Subsequently the deal was terminated.

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{{nbsp}}billion.{{cite news |last=Mathews |first=Eva |date=13 March 2023 |title=SurveyMonkey owner Momentive Global to be taken private in $1.5 bln deal |url=https://www.reuters.com/markets/deals/momentive-global-be-acquired-by-symphony-led-consortium-15-bln-deal-2023-03-13/ |publisher=Reuters}} The acquisition was completed in June that year.{{cite web |last=Dorbian |first=Iris |date=1 June 2023 |title=STG-led investor group completes take-private $1.5bn acquisition of Momentive |url=https://www.pehub.com/stg-led-investor-group-completes-take-private-1-5bn-acquisition-of-momentive/ |website=PE Hub}}

After the emergency phase of the COVID-19 pandemic, SurveyMonkey used its own survey product to determine its employees' preferences as to their working arrangements. 84% voted for a flexible work policy, 81% wanted to work from home up to three days per week, and only 5% preferred to be back in the office all the time.{{cite news |last1=Martin |first1=Asia |title=SurveyMonkey talks new San Mateo office |url=https://www.bizjournals.com/sanjose/news/2024/09/16/survey-monkey-rightsizing-real-estate.html |access-date=November 21, 2024 |work=Silicon Valley Business Journal |date=September 16, 2024 |url-access=subscription}} This article incorrectly states that Franklin Templeton Investments' headquarters is located four miles away from Bay Meadows in downtown San Mateo; it is actually located only about a half mile east of Bay Meadows. In September 2024, SurveyMonkey downsized its leased headquarters space from 120,000 feet in a Bay Meadows office building to 60,000 square feet in Franklin Templeton Investments's headquarters building.

Survey Monkey has been plagued by numerous complaints from customers. In fact, it currently holds a 1.1 rating on Trust Pilot. Most of the complaints are due to its stringent policy on not providing refunds and its annual renewal clause that it imposes without any prior notification to the clients. This has led to a lot of disgruntled customers. [https://au.trustpilot.com/review/surveymonkey.com?page=4 1.1 rating on Trust Pilot]