SurveyMonkey Owner Momentive Is Exploring Potential Sale
(Bloomberg) -- Momentive Global Inc., the owner of SurveyMonkey, is exploring options including a potential sale after receiving takeover interest, according to people familiar with the matter.
The company is working with a financial adviser and discussions with suitors are in the early stages, the people said, asking not to be identified because the matter is private. Momentive hasn’t made any final decisions and could still opt to remain independent.
A representative for San Mateo, California-based Momentive, declined to comment.
The company’s shares rose as much as 20% after the close of regular trading. The shares had closed up 4.9% to $21.62 Thursday in New York trading, giving it a market value of $3.2 billion. The stock had fallen 5.3% in the past year.
The company, formerly Svmk Inc., changed its name to Momentive in June and also chose a new ticker symbol in a move to become more focused on enterprise customers. It said its SurveyMonkey product, which lets online users fill out surveys, quizzes and polls, wouldn’t be changing.
One of its competitors, Medallia Inc., agreed to go private earlier this year after a deal with Thoma Bravo.
Momentive’s board members include Facebook Inc. Chief Operating Officer Sheryl Sandberg, who’s late husband David Goldberg was chief executive officer of the company. Tennis star Serena Williams is also on the board.
The company is also under activist investor pressure to sell itself, Bloomberg News reported Wednesday. Momentive has been exploring options independently from the activist pressure, one of the people said.
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