The maker of SurveyMonkey, Momentive Global, has entered into a definitive agreement to be acquired by Symphony Technology Group (STG), in a deal valued at approximately $1.5 billion.
The deal is expected to close in the second or third quarter of 2023.
“The Momentive board voted unanimously in favor of the transaction,” said David Ebersman, chair of the Momentive board of directors, in a statement.
Scaling customer base and products. “This new chapter will enable Momentive to advance our long-term strategy and mission,” said Zander Lurie, Momentive CEO, in a statement. “STG’s 20 years of investment experience in software, analytics, and data companies will provide us with invaluable expertise as we scale our customer base and product suite.
The company will continue to operate under the Momentive name and will retain the SurveyMonkey brand.
Why we care. When SurveyMonkey filed to go public in 2018, they were valued at $2 billion. Since then, they remain stuck at around 330,000 organizational domains, and their value has dropped. Times are changing, however. Third-party “big data” is becoming more scarce, and companies want to hear directly from their customers in the form of first-party and declared zero-party data collected through surveys. This might be some of the opportunity STG sees in their acquisition, as they are a private equity firm focused on software and data technology.
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About the author
Chris Wood draws on over 15 years of reporting experience as a B2B editor and journalist. At DMN, he served as associate editor, offering original analysis on the evolving marketing tech landscape. He has interviewed leaders in tech and policy, from Canva CEO Melanie Perkins, to former Cisco CEO John Chambers, and Vivek Kundra, appointed by Barack Obama as the country’s first federal CIO. He is especially interested in how new technologies, including voice and blockchain, are disrupting the marketing world as we know it. In 2019, he moderated a panel on “innovation theater” at Fintech Inn, in Vilnius. In addition to his marketing-focused reporting in industry trades like Robotics Trends, Modern Brewery Age and AdNation News, Wood has also written for KIRKUS, and contributes fiction, criticism and poetry to several leading book blogs. He studied English at Fairfield University, and was born in Springfield, Massachusetts. He lives in New York.
