SurveyMonkey's Upsized IPO Prices Above Range -- Update
September 25 2018 - 7:06PM
Dow Jones News
By Josh Beckerman
SurveyMonkey's initial public offering had a higher price and
larger size than its expected range, with an IPO of 15 million
shares pricing at $12 each Tuesday.
The San Mateo, Calif., company had projected that it would sell
13.5 million shares for $9 to $11 each.
SurveyMonkey is scheduled to begin trading on Nasdaq on
Wednesday under the symbol SVMK.
SurveyMonkey, founded in 1999, provides survey software to
people and companies seeking to gather data. For calendar year
2017, SurveyMonkey's parent company SVMK Inc. posted a net loss of
$24 million on $218.8 million in revenue, compared with a loss of
$76.4 million on $207.3 million in revenue in 2016.
As of late 2014, SurveyMonkey was valued at about $2 billion.
Its largest pre-IPO shareholder, Tiger Global Management, owned a
29.3% stake as of Sept. 13.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 25, 2018 18:51 ET (22:51 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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