SurveyMonkey’s IPO priced at $12/share: Reuters

Sept 25 (Reuters) – SurveyMonkey’s initial public offering was priced above the expected range at $12 per share on Tuesday, giving the U.S. online survey company a market capitalization of $1.46 billion.

SurveyMonkey raised $180 million from its upsized IPO of 15 million shares. The company had initially announced an IPO of 13.5 million shares. The offering was expected to be priced between $9 and $11 per share.

The San Mateo, California-based company, which has around 600,000 paying users, will debut on Wednesday on the Nasdaq under the ticker symbol “SVMK”, the company said.

SurveyMonkey’s main investors include Tiger Global Management, and Facebook Inc Chief Operating Officer Sheryl Sandberg, whose late husband Dave Goldberg previously ran the company.

The company’s revenue for the six months ended June rose 13.8 pct to $121.2 million from a year earlier. Net loss widened to $27.2 million from $19.1 million.

J.P. Morgan, Allen & Co, BofA Merrill Lynch are the lead underwriters for the offering.