SurveyMonkey, which operates a freemium online survey service, announced terms for its IPO on Thursday.
The San Mateo, CA-based company plans to raise $135 million by offering 13.5 million shares at a price range of $9 to $11. It plans to raise an additional $40 million through a concurrent private placement with Salesforce Ventures. At the midpoint of the proposed range, SurveyMonkey would command a fully diluted market value of $1.3 billion.
SurveyMonkey was founded in 1999 and booked $234 million in revenue for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol SVMK. J.P. Morgan, Allen & Company, BofA Merrill Lynch, Credit Suisse, UBS Investment Bank and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of September 24, 2018.
