SurveyMonkey aims new product at businesses, hires first sales team

November 20, 2013 Leave a comment

SurveyMonkey aims new product at businesses, hires first sales team

11:10am EST

By Alexei Oreskovic

SAN FRANCISCO (Reuters) – Online company SurveyMonkey rolled out on Monday its new polling product aimed at business customers, the company said. The company also is hiring its first sales people to pitch the new SurveyMonkey Enterprise product directly to corporations and other large organizations. The product will also be available internationally.Until now, consumers have signed up for the free or for-pay versions of SurveyMonkey by visiting the company’s website and creating an account.

“We think it could be long term a very good growth driver for the business,” said Chief Executive Dave Goldberg in an interview with Reuters last week.

SurveyMonkey, which allows people to create quick polls that can be posted on Web sites, is already used for business purposes by the majority of its users, Goldberg said.

But company employees have had to sign up for the service on their own, as consumers, which can create problems in corporate settings. Companies have been unable to consolidate data from surveys created by different employees and could not always retain the data when the employee who signed up for the service moves to a different job.

The new service, which corporate customers can offer to up to 25 employees for $65 a month, will also include new workplace collaboration tools. Among the first customers are insurance company Aetna, Hearst Corporation and the New York Giants.

Palo Alto, California-based SurveyMonkey generated $113 million in revenue in 2012 and was valued at $1.35 billion in a funding round in January.

Earlier this month, the 280-employee company launched a version of its service in Turkey, expanding its international reach.

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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