SurveyMonkey Buys Online Forms Start-Up Wufoo for $35 Million
SurveyMonkey, the quiet but profitable and fast-growing Web survey company, is buying online forms start-up Wufoo.
While the terms of the transaction for the Tampa, Fla.-based Infinity Box–makers of Wufoo–were not disclosed, sources said the price was $35 million in cash and stock.
Besides bringing together two delightfully kooky start-up names, the acquisition gives the Palo Alto, Calif.-based SurveyMonkey another tool to expand its offerings.
The Silicon Valley company’s most recent purchase was telephone-polling firm Precision Polling. And, in January, it acquired a minority stake in ClickTools, a U.K.-based survey provider on Salesforce.com’s AppExchange.
Here’s the official press release:
SURVEYMONKEY ACQUIRES WUFOO
Leader in online surveys adds leader in online forms to expand services for customers
Palo Alto, Calif. and Tampa, Fla., April 25, 2011– SurveyMonkey, the leader in Web-based survey solutions, today announced the acquisition of Infinity Box Inc., the makers of Wufoo, a web application to create online forms. As part of the transaction, the entire Wufoo team will relocate to Palo Alto to join the combined company and help fuel SurveyMonkey’s continuing growth. The terms of the transaction were not disclosed.
Wufoo was created in 2006 to provide an easy and efficient process for creating online forms, one of the most essential and commonly used interfaces for collecting data on the web. The application’s HTML form builder automatically builds the database, backend and scripts needed to collect and understand data so users can create surveys, contact forms, registrations and other forms without writing code. In addition, customers frequently use Wufoo’s forms to process online transactions. With Wufoo, a process that previously required hours of work by web developers can now be done by anyone with web access in a matter of minutes.
“Wufoo is the market leader in online form creation and a perfect fit for SurveyMonkey,” said Dave Goldberg, SurveyMonkey CEO. “From the product and business model, to the team and culture, we are absolutely delighted to welcome the company into the SurveyMonkey family and look forward to increasing the reach and scale of an already outstanding product through our platform.”
“Everyone at Wufoo is very excited about joining the SurveyMonkey team, and the expansion opportunities for our business that will result from this combination,” said Wufoo co-founder Kevin Hale. “By leveraging SurveyMonkey’s international resources, knowledge scaling infrastructure and expertise with large data collection systems, we will be able to increase the scope, performance and reliability of Wufoo’s services.”
The acquisition will allow SurveyMonkey to offer online forms, in addition to surveys, to collect users’ insights and data. Over the past two years SurveyMonkey has continued to enhance services by actively evaluating opportunities to partner and invest in complementary businesses. In January, SurveyMonkey announced it had formed a strategic partnership with ClickTools, a leading survey provider on salesforce.com’s AppExchange. In 2010, SurveyMonkey successfully completed a $100 million debt financing and also acquired telephone-based survey company Precision Polling.