The maker of SurveyMonkey, Momentive Global, has entered true into a definitive settlement to be bought by Symphony Skills Community (STG), in a deal valued at approximately $1.5 billion.
The deal is anticipated to shut in the 2nd or third quarter of 2023.
“The Momentive board voted unanimously in prefer of the transaction,” acknowledged David Ebersman, chair of the Momentive board of directors, in an announcement.
Scaling buyer unpleasant and merchandise. “This fresh chapter will enable Momentive to advance our lengthy-term approach and mission,” acknowledged Zander Lurie, Momentive CEO, in an announcement. “STG’s 20 years of investment skills in instrument, analytics, and info companies will present us with valuable skills as we scale our buyer unpleasant and product suite.
The firm will continue to operate underneath the Momentive title and may per chance per chance honest tranquil defend the SurveyMonkey designate.
Why we care. When SurveyMonkey filed to transfer public in 2018, they were valued at $2 billion. Since then, they stay stuck at round 330,000 organizational domains, and their fee has dropped. Instances are changing, nonetheless. Third-occasion “gargantuan info” is becoming extra scarce, and companies are desirous to listen to at present from their customers in the fill of first-occasion and declared zero-occasion info tranquil via surveys. That is also a number of the crucial alternative STG sees in their acquisition, as they are a non-public equity firm centered on instrument and info technology.
Dig deeper: 75% of marketers tranquil rely heavily on third-occasion cookies
Internet MarTech! Day-to-day. Free. For your inbox.
About the author
Chris Wooden draws on over 15 years of reporting skills as a B2B editor and journalist. At DMN, he served as companion editor, offering long-established prognosis on the evolving marketing and marketing tech landscape. He has interviewed leaders in tech and policy, from Canva CEO Melanie Perkins, to inclined Cisco CEO John Chambers, and Vivek Kundra, appointed by Barack Obama as the nation’s first federal CIO. He is highly drawn to how fresh technologies, including squawk and blockchain, are disrupting the promoting and marketing world as we are unsleeping about it. In 2019, he moderated a panel on “innovation theater” at Fintech Inn, in Vilnius. As well to his marketing and marketing-centered reporting in enterprise trades adore Robotics Traits, In vogue Brewery Age and AdNation Recordsdata, Wooden has also written for KIRKUS, and contributes fiction, criticism and poetry to several leading guide blogs. He studied English at Fairfield University, and used to be born in Springfield, Massachusetts. He lives in Fresh York.
