Oct 19, 2018 - Economy & Business

Survey software maker Qualtrics files for $200 million IPO

Qualtrics CEO Ryan Smith. Photo: Clodagh Kilcoyne/Getty Images

Qualtrics, a Utah-based maker of enterprise survey software, has filed to go public, on Friday filed for a $200 million IPO.

Why it matters: Qualtrics has long been rumored to be an IPO candidate, with expectations intensifying after rival SurveyMonkey's listing last month.

  • The company will list its shares on the Nasdaq under ticker symbol "XM."
  • Qualtrics is still unprofitable. In the first six months of 2018, it had a loss of $3.4 million on $184.2 million in revenue. For the same period in 2017, it had a $3.7 million loss on $131.4 million in revenue.
  • For all of 2017, it had a $2.6 million in profit on $289.9 million in revenue.
  • It has raised around $450 million in venture capital, most recently at a $2.5 billion valuation, from firms like Accel (38.6% stake), Insight Venture Partners (35.8%), and Sequoia Capital (24.1%).
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