UPDATED 21:45 EDT / JANUARY 17 2018

APPS

Report: SurveyMonkey in talks for an initial public offering

This year is shaping up to be a big one for initial public offerings, and one of the first of 2018 could be cloud questionnaire and survey company SurveyMonkey Inc.

Recode, quoting people familiar with the company’s plans, claimed that SurveyMonkey has not decided on which banks will underwrite the IPO. But conversations in that direction are “heating up,” suggesting the company is set to choose which bankers it will use “in the next few months.”

SurveyMonkey dates all the way back to 1999 just as the dot-com bubble was starting, making it nearly ancient at 19 years old. The company offers a cloud-based online survey and questionnaire tool that helps users gather survey-related information and has, at least to some, become synonymous with online surveys in the same way that Google has become synonymous with search.

According to Crunchbase News, SurveyMonkey was last valued at $2 billion as of its last round in 2014, but that figure is now four years out of date and the company has reported growth since that time, including revenue of $200 million in 2016. So the IPO figure could potentially be somewhat higher, although it depends on what multiple of revenue the market is willing to pay.

If SurveyMonkey is indeed going public, it will join a growing list of large companies believed to be heading in the same direction. Spotify AB was reported to have secretly filed for its IPO on the New York Stock Exchange Jan. 3. A week later, Dropbox Inc. was also said to have secretly filled its public offering paperwork as well.

Other large tech firms that may also be going public this year include Lyft Inc., which was reported in September to be hiring an advisory firm to guide it through the IPO process. Chinese mobile device maker Xiaomi Inc. was also reported Monday to have picked its underwriters for a public offering in the second half of the year.

Photo: infomatique/Flickr

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