Giving it Away for Free Lands S1bn
Survey Monkey has been going for 15 years so it’s not exactly new to the market. It does not sell advertising and relies solely on the product experience being so good that you’re often prepared to pay for the premium version. Similar then to say LinkedIn – but not Facebook.
It’s a company that’s very much grown up. This week it announced the opening of its corporate office in London and such is its market penetration that it counts the likes of BP in its client base. And of course, this is where it makes its money. Last year it turned over only $100M and made $62M EBITDA. But it also raised another $850M in secondary funding, valuing the company some way north of the magical $1bn. Which shows that potential rather than profit remains key.