SurveyMonkey Financiered for $100 Million Debt
SurveyMonkey announced a $100 million senior debt financing in order to retire the existing one, and to cover the general purposes. The new capital will enhance SurveyMonkey possibilities for expanding and improving their services.
The top tier banks that credited SurveyMonkey comprise Bank of America Merrill Lynch, SunTrust Robinson Humphrey, Inc and other participating banks such as JPMorgan Chase Bank, N.A., Royal Bank of Canada, Webster Bank, N.A. and Zions First National Bank.
Dave Goldberg – CEO of SurveyMonkey added for press that “SurveyMonkey continues to be the market leader in providing online survey tools for individuals, corporations, non-profits, governments and schools and we believe there is incredible opportunity for growth in front of us. This new capital structure will help us achieve our expansion plans.”
SurveyMonkey has a hefty history since their launch on the online research environment, and now it counts almost 25 million surveys in its database. Although they definitively control the online share, SurveyMonkey is heading towards phone survey. Their recipe for success includes the fact that its services are used in different types of media, from academic institutions to personal or businesses and it also provides liability and singularity.
The relevance of metrics from companies like SurveyMonkey is being realized, with the resurgence of social media verticals, namely within larger networks like Facebook. The act of socializing metrics is an important way in which data is being transferred between consumer and interested brands, so that interest for companies like SurveyMonkey are telling of the industry at large.
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