SurveyMonkey in 2014

The SurveyMonkey case shows the evolution of the company from its inception in 1999 to 2014. SurveyMonkey was founded by Ryan Finley, a young computer science graduate from the University of Wisconsin-Madison, to address the lack of survey tools. Fix easy-to-use and affordable online on the market. In 2009, Finley sold the company to Spectrum Equity and Bain Capital Ventures. David Goldberg, entrepreneur and former Yahoo! An executive, he took the helm as CEO and immediately implemented his plan to get the company on the right track with a constant and rapid growth rate. Goldberg’s main initiatives in the early days were hiring a strong management team, rebuilding the entire technology platform, and expanding internationally. As it made significant progress in these areas, SurveyMonkey made several acquisitions and began adding SurveyMonkey Audience (survey participant groups) and survey templates to its functionality and product offering. The company closed $ 800 million in secondary financing in 2012 to provide liquidity to employees and investors in lieu of an initial public offering, and accelerated efforts to transform its survey tool into a complete platform. Although SurveyMonkey had established itself as the dominant player in the direct customer market in 2013, the company began building a corporate offering to compete with the other big players in the growing commercial feedback management space. After Goldberg and his team achieved tremendous growth in their 15-year history, largely since the acquisition in 2009, they were faced with the fundamental question of what were SurveyMonkey’s growth objectives for growth, international expansion, As they looked at 2014, quality initiatives, companies, platform growth, in order to position the company in the best possible way, in order to develop its full potential.

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