SurveyMonkey prices its IPO at $12 a share
- 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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