- Qualtrics, a Utah-based startup, filed to go public on Friday.
- The startup, which is backed by venture capital firms Sequoia and Accel, was last valued at $US2.5 billion.
- The IPO is being led by Morgan Stanley and Goldman Sachs.
Qualtrics, a Provo, Utah-based startuped that sells “experience management” software, has filed to go public. The company will list on the NASDAQ under the ticker “XM” – a reference to the type of software it sells.
The company, which was founded in 2002, was last valued at $US2.5 billion in a 2017 funding round backed by investors at Insight Ventures, Accel and Sequoia.
Qualtrics sells a platform that effectively does market research into customer and employee sentiment.
“Our mission is to help organisations deliver the experiences that turn their customers into fanatics, employees into ambassadors, brands into religions, and products into obsessions,” the company wrote in its S-1.
The company brought in $US289.9 million in revenue in 2017, up 52% from its $US190 million in revenue in 2016.
In 2017, the company saw profitability. It reported a net income of $US2.5 million, up from $US12 million in losses in 2016.
Read more about Qualtrics:
- This guy once turned down a $US500 million offer for his startup… and now it’s worth $US2.5 billion
- The CEO of billion-dollar startup Qualtrics promised to pay an employee $US100,000 for playing an Aerosmith song
- Meet the insanely successful COO of Qualtrics who doesn’t like to work ‘as a matter of principle’
- A tech company is giving each employee $US1,500 to spend on experiences – and it’s a millennial’s dream perk
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