Though the word of mouth has been the most effective way of marketing, people before the internet did not have any reliable source to actually get through those experiences based reviews on things, rather going through TV ads or Newspapers. After the internet came into being and computers reached every household, people came with the idea to build websites and software that can help people get through authentic reviews on things and such that those people could make up their mind on what they should buy or leave. Momentive Inc. is a company that works on a similar idea and develops cloud-based experience management software for companies so that these companies can offer their clients genuine reviews on things like market insight, brand insight, company atmosphere for aspirants, and customer experience, etc.
About Momentiv Inc.
Momentive is a 22 years old software development company founded in 1999 by Ryan Finley and Chris Finley. It is a publically traded company that develops software for experience management. The company trades on Nasdaq as MNTV, whereas the headquarters of the company is based in San Mateo, CA, United States. The company has its regional offices set up in locations like San Mateo, Portland, Seattle, Dublin, Ottawa, London, Sydney, etc, and serves its customers worldwide. Momentive provides cloud-based experience management and survey software services, Momentive, GetFeedback, and SurveyMonkey being the most popular products by the company. As of 2020, 1,220 people are employed at various Momentive offices, and it made annual revenues worth US$233.5 million in the same year, with 25,000,000 registered to its services.
Founding Story of Momentive
Ryan Finley and Chris Finley founded Momentive Inc. as SurveyMonkey in 1999. The company was one of its kind and launched its first product, a consumer-oriented survey platform. Due to the unique idea of the company, it became successful from day one. The service it provided was free, and many of its services remain free till today.
In the year 2009, Dave Goldberg joined SurveyMonkey as the CEO, who helped the company grow really fast. The same year, Spectrum Equity and Bain Capital took over some of the majority shares in SurveyMonkey. In 2013, the company raised $800 million in debt, and the company became a unicorn with a valuation worth $1.35 billion. The next year, MonekySurvey received $250 million from companies like Google Capital and Morgan Stanley, etc.
In August 2014, SurveyMonkey acquired Fluidware, a competitor survey company based in Canada. This purchase was followed by the acquisitions of TechValidate in 2015, Usabilla, and GetFeedback in 2019. The company also acquired some survey tools, including Precision Polling, Wufoo, and Zoomerang, etc., for the purpose of adding some more features to its existing platforms and other products to its product line.
In June 2021, SurveyMonkey changed its name to Momentive. The news of the acquisition of Momentive by Zendesk Inc. also came in October month of the same year. Though the merger is still to happen, the amount is already decided, and that is nearly $4 billion.
The CEO at Momentive
SurveyMonkey, aka Momentive, had seen the most growth in the leadership of Dave Goldberg as the CEO. But after his death in 2015, Zander Lurie was named the CEO of the company. Lurie is a native American who is also known as one of the leading business executives as well as a board member of GoPro. He has a graduate degree from the University of Washington and an MBA from Emory University. Lurie has worked at companies like GoPro as the Senior Vice President and CBS Interactive as the CFO. He also co-founded CoachArt in 2001. In 2015, he became the chairman of the board of SurveyMonkey 2015, and in 2016, he was named the CEO of the company.
Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.