Okay! We are back into the swing of things! Oh gosh, Ashley. Sentence one and you are already laying on the puns… What can I say. I can’t help it :) You all know by now that I have a love for fun, awesome, creative, internet companies. This next IPO is keeping up with that theme of course! Get ready to learn about SurveyMonkey!
SurveyMonkey: what a funny little name. If you haven’t already caught by the title, this company must have something to do with survey’s! Good job using those context clues! Yes, SurveyMonkey is a cloud based, software as a service company that offers everything from online surveys to data analysis and representation. Unknown to me, SurveyMonkey (ticker SVMK) monkey was actually founded in 1999 by two brothers Ryan and Chris Finley! Wow, I feel like 1999 was so far away. Currently the company is based in San Mateo, California. Ahhh California, home of all the tech companies. They also have offices in Portland, Seattle, Dublin, Luxembourg, and Ottawa.
Most basically, Survey Monkey provides survey services to companies and individuals needing to collect data, visualize results, and provide other statistical analysis. SVMK offers the all popular freemium model where users can launch unlimited surveys, each with a max of 10 questions each. Questions can be either multiple choice, or write your own response. If you have needs beyond that the services range from Standard, Advantage, and Premier. I am going to include a picture of their tiers page, because the depth in which their services go is far too much for me to type. :)
Photo from: https://www.surveymonkey.com/p...
As of June 30th of this year SVMK has 16 million active users, with over 600,000 of those being paying users. In 2016 SurveyMonkey’s revenue was 200 Million USD. Which is pretty impressive seeing as that in 2009 revenue was $28 million. What a jump! Keep in mind that the market research industry is a huge industry that is more than just asking and answering questions. Companies can use the answers to predict new market trends as well as use testimonials for marketing and consumer relation purposes!
There are definitely many other competitors in the market that are similar to the SurveyMonkey platform, although I had to search for all of these because I couldn’t think of any off of the top of my head. These include; Fieldbloom, Typeform, GetFeedback, AskNicely, SurveyGizmo, and Wufoo to name a few. While the basics of these companies are very similar, cons such as too many updates, limited software integration, and lack of tracking all prove as problems amongst these competitors. Honestly, what I think gives SurveyMonkey its “je ne sais quoi” is that it’s really the only one you hear about. It’s the only one I ever see marketed, the only one I hear other people talk about, and it’s good at what is does. So if let’s say you are a small business owner and need to collect some info, you remember hearing about SurveyMonkey and you go to their site to find they offer a free tier. So there is no need to research competition. If you need more add ons down the road, you are already signed up them. SVMK has the right idea. Actually if you remember when we sent out a survey about a year ago, SVMK was who we used. And yes, we ended up paying for it for a few months to complete our campaign! ;)
On 9/28 this was the analysis Jerremy did on SVMK.Presently, we are in a decent little down trend. With what looks like a flag pattern shaping up, I think our biggest question on this one is simply 'how low will it go, before it bounces?' Let's pull up the hourly chart and snag a target. Something like this makes sense for now, until SVMK makes a higher high or posts a trapping candle / gap or set up.
Well, our time together has ended for now. But don’t fret because I will be coming out with another one before you know it! We love learning about awesome companies and then taking advantage of the opportunities that come with them! You are incredible in so many ways!
Smile on :)