OG Silicon Valley survey software maker, SurveyMonkey, filed to hit the Nasdaq on Wednesday — and it only took them a hair under 2 decades.
Per the filing, the company plans to raise $100m in the IPO (which has been noted as a placeholder amount).
SurveyMonkey joins a stampede of unicorns galloping toward the public market this year (including Eventbrite, which submitted its IPO paperwork last week).
Still lacking that profit
At 19 years old, the company that pioneered “freemium” software has raised some $600m across several rounds of funding from investors, valuing them at $2B.
Despite this, they are still unprofitable: According to TechCrunch, SurveyMonkey reported a net loss of $27.18m on $121m in revenue in the first half of 2018.
During the same period last year, they took a $19m net loss on $106.5m in revenue.
This monkey has been trying to get out of its cage for a while
The online polling company was prepping for an IPO in 2015 — but plans were put on hold when the company’s longtime CEO, Dave Goldberg, unexpectedly passed away.
The company reportedly has 600k users as well as a few high-profile board members on its roster (like Serena Williams and Facebook COO Sheryl Sandberg).
Sandberg was Dave Goldberg’s wife and owns upwards of 10m shares in the company. Per the filing, she plans to “donate all shares beneficially owned by her to the Sheryl Sandberg and Dave Goldberg Family Foundation.”
Get yours, SurveyMonkey
Dyson pushes forward on its promise to bring the world another electric vehicle
Last year, we nearly leaped over our office Dyson fan when the premiere brand for all things sucking and blowing announced a $2.7B electric-vehicle program to produce a car and signature battery.
Now, they’ve finally announced some headway: The company unveiled plans to turn an old airfield into its vehicle testing site.
We imagine it’s a littttle bigger than their vacuum-testing site
The new “technology center” is located at the former Hullavington Airfield in England, and will soon be strapped to the nines with engineering work spaces and over 10 miles of test track.
Dyson is joining a list of traditional (and non-traditional) competitors navigating the roads of an increasingly crowded race to the electric-car finish line.
Volkswagen AG, Daimler AG, and General Motors all plan to offer electric vehicles starting early next year, encroaching on Tesla’s turf.
But Dyson ain’t far behind
Dyson said on Thursday it expected to be on the road around 2021 (that’s is a year longer than what James Dyson claimed last year... just saying).
And, as Bloomberg reports, their plans to grow prove they’re putting the pedal to the metal: The company hopes to add another 300 positions to an already strong 400-person automotive team currently working from the airfield.
Thanks to slipping sales, Ford is on a collision course with the investment junkyard
Ford’s credit fell to a “Baa3” rating this week — just a single notch above what investors would classify as junk.
The company has been chugging along on an expensive $11B turnaround plan. But as global sales continue to fall, Ford’s reorganization efforts could run out of gas.
Ford’s international sales are skidding out fast
Ford’s global business operations are in free fall: Chinese sales fell from $70m profit last year to a $633m loss this year, with an additional $750m in losses in South America and bleak prospects in post-Brexit Europe.
Even worse, Moody’s, the credit rating agency that downgraded Ford, said that, “absent clear progress,” it may have to downgrade the automaker again in the near future.
But Ford’s new CEO is trying to steer away from the junkyard
Ford hired a new CEO, Jim Hackett, 15 months ago to engineer the company’s turnaround. To keep his new company out of the junkyard, Hackett launched an $11B initiative to improve “operational fitness” over the next 3 to 5 years.
With $25B available in cash, Ford has maintained a healthy balance sheet by scaling down on underperforming products (sedans). But Ford’s near-junk credit rating makes it hard for the company to keep growing.
Between England and France, the English Channel’s international waters are swimming with shellfish. But French law bans scallop-scraping until October while British rules allow it year-round.
Steamed that the Brits-N-Chips were stealing all the scallops, French mollusk-eteers surrounded 5 British ships with 35 boats, hurling smoke bombs and curses and violently ramming a boat (check out the video).
The British called the Royal Navy for protection, accusing the French of making 3 hull-holes in British boats and 1 hell-hole for all the British fishermen who were just trying to mind their business and haul.
So what kicked off the mollusk mayhem?
Bivalves have always been big business in Europe. In past seasons, European bivalve-baggers negotiated boundaries to manage the mollusk market with manners. But this year fishermen couldn’t parley since Brexit may kill the EU’s shared-access fishing policy.
UK fishermen, who think it’s fishy that the rest of the EU pulls $630m out of British waters while hometown anglers reel in just $156m, proposed a bill to restore exclusive control over British waters (a first in decades).
In response to Britain’s proposal, the EU plans to revoke British fishing boats’ access to shared waters, meaning this seafood scuffle may be the first of many...
How Booking.com cracked the Golden Briefcase: Business travel
Booking.com has a decades-old consumer travel business -- but a few years ago, they noticed something strange: Over 20% of their bookings were made for business travel.
So, they built a free, fully-fledged enterprise platform, Booking.com for Business, to help manage accommodations for work trips from reservations to expensing.
Gotta respect the hustle…
If Booking.com put on a suit, it’d be Booking.com for Business
With the same easy-to-use tools that made their consumer site so popular, Booking.com for Business is beefed up to allow you to book, manage, and cancel travel plans for your team.
This includes budget limits and permissions to allow certain people “booking clearance,” plus reporting so you can monitor travel spend by department, project, or location.
And, just like their flagship platform, Booking.com for Business offers over 29m listings worldwide. We’re not just talking hotels, we’re talking villas, condos, treehouses, igloos -- you name it, you can book it for your next corporate retreat.