3 years ago813Customer acquisition absorption bundle institution Qualtrics started trading Thursday astatine $41.85, astir 40 percent supra its IPO price.
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The institution raised $1.55 cardinal done its IPO, making it the largest nationalist debut of a Utah-based company. The magnitude raised by Qualtrics is much than treble the magnitude raised by the second-largest IPO successful Utah history, EnergySolutions’ $690 cardinal IPO successful 2007.
Ultimately pricing its shares astatine $30, supra its acceptable range, the institution acceptable a terms scope of betwixt $20 to $24 earlier expanding it to betwixt $22 and $26, and yet betwixt $27 and $29.
Qualtrics’ bundle helps companies measurement employee, lawsuit and merchandise experience. It was founded successful 2002 and has office successful Provo and Seattle.
The IPO sets Qualtrics’ valuation astatine much than $15 billion, meaning it brought a important instrumentality to SAP, which acquired the institution for $8 cardinal successful 2018 close earlier its planned IPO.
Qualtrics primitively raised much than $400 cardinal successful backing arsenic a startup from investors including Accel and Sequoia Capital. Its past fundraise was a $180 cardinal Series C circular led by Accel and Insight Partners in April 2017, according to Crunchbase. The institution archetypal raised task superior aft being astir for astir a decade, with a $70 cardinal Series A successful May 2012.
Illustration: Li-Anne Dias
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