Momentive Mulling Possible Sale Again?

SurveyMonkey owner Momentive Global Inc has been approached regarding a possible sale and is discussing its options with advisors, according to Bloomberg.

The San Mateo, California-based company had a difficult start to the year, with the rejection in February of its sale to customer service and CX firm Zendesk, by the latter's shareholders. Momentive's share price has since dived, and its market capitalization last week was just under $1bn, compared with the $4bn originally offered by ZenDesk and the $2bn at which SurveyMonkey was valued as long ago as 2015.

In March, Momentive announced a refocus on delivering stockholder value, with plans to give new prominence to its CX management division GetFeedback - and since then it has been busy, launching a new solution for concept and creative testing, Idea Screening and announcing integrations with Microsoft, in May; and rolling out a number of product updates in September. Nevertheless on Monday this week it announced it had made 11% of its workforce redundant, as part of 'a restructuring plan to improve operating margins and improve efficiency'.

As yet the company has not commented on the Bloomberg story, which simply cited anonymous 'people with knowledge of the matter'.

Web site: www.momentive.ai .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.