SurveyMonkey is now worth $2 billion and has acquisitions on its mind - Startup Daily
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SurveyMonkey is now worth $2 billion and has acquisitions on its mind

After closing a funding round of $250 million, online survey startup, SurveyMonkey, is now valued at close to $2 billion, according to information coming out of the United States overnight.

The news was first announced by the Wall Street Journal last night, and was confirmed by SurveyMonkey this morning.

The company, based in Silicon Valley and founded by Ryan Finley about 14 years ago, is headed up by CEO Dave Goldberg, who was in Sydney earlier this year doing the media rounds and preparing to launch a suite of new SurveyMonkey products into our market. Under Goldberg’s eye in the five years he has been part of the company, he has grown from a team of 12 employees to a company of over 300 people.

The company has announced it will use the funds for seeking out and finding potential companies to acquire as it looks to grow its operations. The funds will also allow existing employees to cash-out some of their equity.

New investors in the company via this round of funding includeT. Rowe Price, Morgan Stanley Investment Management, and Baillie Gifford & Co., as well as existing investors such as Google Capital and Tiger Global Management.

According to a statement given by Goldberg to the Wall Street Journal, the company generated revenues of $113 million for 2012, and earnings before interest, taxes and depreciation, had a profit of $62 million that year. The company has not disclosed more recent financial results.

It will be interesting to see over the coming months exactly what companies SurveyMonkey has been eyeing off for purchase.

 

Featured Image: Survey Monkey CEO, David Goldberg | Photograph by Karsten Lemm 





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