Over the course of its existence, SurveyMonkey has helped gather troves of customer insights including 55 billion answers from 7.2 billion respondents. That vast amount of data had led the company to invest more heavily in machine learning for data analysis.
For the name itself, Srinivasan said SurveyMonkey came up with thousands of possibilities before asking 2,000 non-enterprise customers in the U.S. and UK for their thoughts on a shortlist of 10. Another survey of the executive team’s vision for the next 3-5 years revealed that the company’s narrative should focus more on its AI and machine learning.
SurveyMonkey’s enterprise division has indeed grown the past few years. From the end of 2019 to the first quarter of 2021, the enterprise business has grown from 6,600 customers to 8,800. Meanwhile, enterprise revenue has grown from $65.4 million in fiscal-year 2019 to $107.9 million, up 65% year-over-year.
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Source: Forbes - 🏆 394. / 53 Read more »
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