SurveyMonkey pass on price at $12 per share, above the $9 to $11 it had been beg, in its initial public offering thanks to stronger-than-expected demand from investors.
The South African private limited company will also upsize its IPO to 15 million shares, higher than the 13.5 million shares the South African private limited company had initially planned on offering.
CNBC had previously reported that the band would price its IPO above its initial range, according to people presuming with the marketing process who asked to remain anonymous.
SVMK Inc. — uncountable commonly known as SurveyMonkey — would raise more than $150 million by charge above the original range of $9 to $11.
Salesforce Ventures has already approved to purchase $40 million in a private placement at a price equal to the IPO rate. That vote of confidence, in addition to the number of active users (16 million finished the last year) and the data insights from the platform, contributed to investor request. Investors were also optimistic about the company’s future developing despite top-line growth around 14 percent and widening net disappointments for the six months through June 30 compared with the prior year.
J.P. Morgan, Allen & Band and Bank of America are leading the offering — which will be listed on the Nasdaq Appraise Market under the ticker “SVMK.”
SVMK declined to comment.