Initial public offering: SurveyMonkey sets IPO price at $12 a share

SurveyMonkey is going public on
Wednesday.
Business
Insider

• SurveyMonkey priced its initial public offering
  at $12 a share.
• The IPO raised $180 million through the sale of 15
  million shares.
• The company had previously sought a sale of 13.5
  million shares.

SurveyMonkey announced Tuesday that it had priced its initial
public offering at $12 a share, raising $180
million through the sale of 15 million shares.

The survey provider previously sought the sale of 13.5
million shares through its IPO, which was expected to price in
the range of $9 to $11 per share,
according to Reuters. However, the size was increased due to
robust investor demand. 

In its
public filing, SurveyMonkey said it
generated $121.2 million of revenue for the first half of
2018, up from $106.5 million in the same period last year. It
hasn’t yet turned a profit. 

“Founded in 1999, SurveyMonkey changed the way people
gather feedback by making it easy for anyone to create their own
online surveys. ” the company said in the filing.

“Today, SurveyMonkey’s mission is to power curious
individuals and organizations to measure, benchmark and act on
the opinions that drive success. Our People Powered Data platform
enables conversations at scale to deliver impactful customer,
employee and market insights to our over 16 million active
users globally.”

The lead book-running managers for the IPO include
JPMorgan, Allen & Company, and Bank of America Merrill
Lynch. Credit Suisse Securities, UBS Securities, and Wells
Fargo Securities are also book-running managers. 

SurveyMonkey will trade on the Nasdaq, under the ticker
“SVMK,” 

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