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Google Becomes Shareholder, SurveyMonkey Valued At $1.35B

SurveyMonkey

[Techtaffy Newsdesk]

SurveyMonkey, a privately-held company that offers Web-based survey solutions, has initiated an $800 million debt and equity recapitalization, led by CEO Dave Goldberg and Tiger Global Management. Google is also becoming a new shareholder. The recapitalization pegs the company at a valuation of approximately $1.35 billion.

Upon the closing of the transaction, Lee Fixel, Partner at Tiger Global, will join SurveyMonkey’s Board of Directors. David Lawee of Google will also join the board as an observer.

 

The recapitalization will consist of two stages. In the first step of the transaction, existing early investors in the Company sold approximately $444 million in equity to a group of new and existing shareholders. The equity sale closed in late December. To complete the recapitalization, SurveyMonkey expects to raise an additional $350 million in debt financing. The proceeds from the debt will be used to buy shares from employees and shareholders as well as retire the Company’s existing debt.

 

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