NEWS23 October 2018
US – Experience data business Qualtrics has filed for an initial public offering (IPO).
The company has applied to list on The Nasdaq Global Select Market under the symbol ‘XM’, a reference to what it calls its ‘experience management’ software.
Qualtrics grew its revenue by 41% in the first half of 2018 to $184m, compared to the first half of 2017.
The company was valued at $2.5bn in 2017 when it raised $180m in a round of funding led by Insight Venture Partners and Accel, with participation from Sequoia Capital.
Qualtrics was founded in 2002 in Utah by two brothers – chief executive Ryan Smith (pictured) and president Jared Smith.
The IPO filing comes a month after competitor SurveyMonkey closed its public debut.
Qualtrics’ founders said in the company’s S-1 form: "Our mission is to help organisations leverage experience management to turn their customers into fanatics, employees into ambassadors, brands into religions, and products into obsessions."