As the tech startup world waits this year for initial public offering launches from the likes of Lyft, Uber, Airbnb and others, one expected IPO from last year did not materialize.
Qualtrics International, which offers software to analyze and improve user and employee experiences, had plans to launch its IPO last year, but instead it was acquired by SAP, the global business operations management company, for $8 billion in November last year, according to Renaissance Capital, which tracks IPO’s.
Had Qualtrics went through with the IPO, it would have traded on the NASDAQ exchange under the symbol XM.
Ironically, Qualtrics biggest competition in the analytics market is Survey Monkey, another startup which successfully launched its IPO last year while Qualtrics sold itself to SAP.
The Provo, Utah based company was founded in 2002 by Stuart Orgill, Ryan and Jared Smith with their father, Scott. It raked in sales of $372 million in the 12 months ending in September 2018.