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SurveyMonkey - IPO Investment Case Presentation

Research

Publication Date: 01 Oct 2018 - By Robert Prather By Robert Prather
Actionable
Differentiated

IPO & Placements Equity Fundamental Equity USA Technology

SVMK Inc., founded in 1999, is a a global provider of survey software and survey analytics products for both businesses and individuals. It currently has over 60mn registered users and over 600,000 paying users across over 190 countries.

Strengths & Opportunities

  • SVMK continues to expand product offerings
  • Growing survey market likely to provide secular tailwinds
  • Increasing ARPU
  • Restructuring plans implemented in 2016 and 2017 seem to be paying off
  • Shrinking losses and positive operating cash flows

Risks & Concerns

  • Crowded industry with low barriers to entry
  • SVMK's core business seems insufficient to sustain growth on its own
  • High leverage may limit inorganic growth opportunities
  • Muted paying user growth
  • Increasing public scrutiny of internet privacy and personal data security

 

 

 

Surveymonkey IPO

Pages: 41

Released: 01 Oct 2018

Unlock for 10 credits

The Author

Robert Prather

Equity Analyst

Consumer, Technology, Telecom & Media, Industrials

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