The maker of SurveyMonkey, Momentive World, has entered right into a definitive settlement to be acquired by Symphony Know-how Group (STG), in a deal valued at roughly $1.5 billion.
The deal is predicted to shut within the second or third quarter of 2023.
“The Momentive board voted unanimously in favor of the transaction,” stated David Ebersman, chair of the Momentive board of administrators, in an announcement.
Scaling buyer base and merchandise. “This new chapter will allow Momentive to advance our long-term technique and mission,” stated Zander Lurie, Momentive CEO, in an announcement. “STG’s 20 years of funding expertise in software program, analytics, and information corporations will present us with invaluable experience as we scale our buyer base and product suite.
The corporate will proceed to function below the Momentive identify and can retain the SurveyMonkey model.
Why we care. When SurveyMonkey filed to go public in 2018, they had been valued at $2 billion. Since then, they continue to be caught at round 330,000 organizational domains, and their worth has dropped. Occasions are altering, nonetheless. Third-party “huge information” is changing into extra scarce, and corporations need to hear instantly from their clients within the type of first-party and declared zero-party information collected by surveys. This could be a number of the alternative STG sees of their acquisition, as they’re a non-public fairness agency centered on software program and information expertise.
Dig deeper: 75% of marketers still rely heavily on third-party cookies
Get MarTech! Day by day. Free. In your inbox.
Source link
