Qualtrics, the survey software company that SAP purchased for $8 billion in 2018 and announced its intention to take public earlier this year, has now filed for a public listing with the US Securities and Exchange Commission (SEC).

Notably, Qualtrics is seeking to complete a milestone that was previously on the verge of completion before SAP swooped in to acquire the company. Qualtrics was looking to go public and had already filed for a listing before SAP brought in an unbeatable acquisition offer and successfully purchased the company.

Now, just two years after buying Qualtrics, SAP is looking to take the company public, selling shares to outside investors while it retains majority control.

As Qualtrics is set to go public, its co-founder and current CEO Ryan Smith as well as the tech-focused private equity firm Silver Lake will buy significant stakes in the company and be the anchor shareholders alongside SAP.

Qualtrics’ S-1 filing shows $430 million in revenue in all of 2019 versus $296 million in the previous year. The company reported a net loss of $1 billion versus $37 million in the same respective periods.

In the first nine months of this year, Qualtrics reported $415 million in revenue, versus $309.5 million in the same period of last year. 

A group of banks including the likes of Goldman Sachs, Morgan Stanley, Barclays, HSBC, and Citigroup are underwriting Qualtrics’ IPO, which is expected to happen next year.

Photo: Qualtrics CEO Ryan Smith by jdlasica is licensed under CC BY 2.0

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print