SurveyMonkey - Empowering Insights through Online Surveys

Introduction: SurveyMonkey is a well-known online survey platform that enables individuals and
organizations to create, distribute, and analyze surveys to gather insights, opinions, and feedback
from a wide range of audiences. Founded in 1999 by Ryan Finley, SurveyMonkey has played a
significant role in democratizing the survey creation and data collection process.

Background: The inspiration for SurveyMonkey came when founder Ryan Finley sought a more
efficient way to collect feedback for his own projects. Seeing the potential for a user-friendly, web-
based survey tool, he started developing a prototype that eventually evolved into SurveyMonkey.

Innovation and Technology: SurveyMonkey revolutionized the way surveys were conducted by
providing an intuitive and accessible platform for users to design and distribute surveys online. The
platform initially focused on simplicity, ease of use, and quick deployment, allowing users to design
surveys with various question types, from multiple-choice to open-ended questions.

Key Milestones:

1. 1999: SurveyMonkey was founded by Ryan Finley.

2. 2000: The platform introduced the concept of "freemium," offering a basic free version and
premium plans with advanced features.

3. 2008: SurveyMonkey introduced "Skip Logic," allowing survey creators to customize the flow
of questions based on respondent answers.

4. 2010: The company launched "SurveyMonkey Audience," a service to find and target specific
survey respondents.

5. 2013: Dave Goldberg became CEO, and the platform surpassed 20 million registered users.

6. 2015: SurveyMonkey went public on the NASDAQ stock exchange.

7. 2016: The company introduced a redesign, focusing on user experience and mobile
compatibility.

8. 2018: Zander Lurie became CEO, and the company expanded its offerings to include the
"SurveyMonkey CX" customer experience platform.

9. 2020: SurveyMonkey acquired GetFeedback, enhancing its customer experience survey

capabilities.

10. 2021: The company rebranded as "Momentive" to reflect its broader insights platform
beyond surveys.

Business Model: SurveyMonkey's business model revolves around offering both free and paid
subscription plans. The free version provides basic survey functionality, while premium plans offer
features such as advanced reporting, customization, and integrations. Additionally, the company
provides specialized solutions for businesses seeking to gather customer feedback and improve their
overall customer experience.

Challenges:

1. Competition: The online survey market is competitive, with rivals like Google Forms and
Typeform offering alternatives.
 2. Monetization: Convincing free users to upgrade to paid plans while retaining a user-friendly
experience was an ongoing challenge.

3. Data Security: Ensuring data security and privacy in survey responses and user information
was a crucial concern.

Impact and Outcome: SurveyMonkey's user-friendly interface and accessibility democratized the
survey creation process, enabling individuals, small businesses, and large corporations to gather
valuable insights. Its innovations, such as skip logic and customizable templates, have influenced how
surveys are designed across industries. As the company evolved, it expanded beyond surveys to
encompass a broader platform for gathering and analyzing data-driven insights.

Conclusion: SurveyMonkey's journey from a small startup to a publicly traded company reflects its
significant impact on the data collection and insights industry. By creating an accessible platform that
empowers users to easily create and analyze surveys, the company has enabled businesses and
individuals to make informed decisions based on valuable feedback. While its name changed to
Momentive to reflect a broader insights platform, SurveyMonkey's legacy as a pioneer in online
surveys remains an integral part of its identity.