SurveyMonkey Swings Investment Deal

In the US, online DIY survey tools firm SurveyMonkey has received a major round of funding from a group of investors who have acquired a majority interest in the company. As part of the transaction, Dave Goldberg will become CEO.

Other terms were not disclosed. The deal is being led by Spectrum Equity Investors and includes Bain Capital Ventures, while debt financing to support the transaction is being provided by Bank of America, CIT and NewStar Financial.

Founded in 1999, Portland, Oregon-headquartered SurveyMonkey provides online subscription-based survey solutions that enable people to create surveys, collect responses and analyze survey results.

Goldberg, the firm's new CEO, is a minority investor in the company. He has been an Entrepreneur in Residence with Benchmark Capital since May 2007, and previously led Yahoo! Music. In his new role, he will be based in Menlo Park, where SurveyMonkey plans to open an office in the next month.

The firm's Founders, brothers Ryan and Chris Finley, will remain with the company in Portland and will retain a minority ownership interest.

Goldberg commented: 'Ryan, Chris and their team have developed a remarkable service and a market-leading brand that appeals to everyone from large corporations to non-profit organizations to college students. I am excited to join the company and look forward to growing the SurveyMonkey user base and community, providing enhanced services and products and adding to the already talented team of employees.'

Web site: www.surveymonkey.com .

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

• Momentive
• All news