The self-service company SurveyMonkey today acquired the online form builder Wufoo. The startup that lets users create online forms and embed them on any website.
The terms of the acquisition have not been released, but sources at TechCrunch cite sources that estimates the purchase price at $35 million. In this acquisition SurveyMonkey will not be getting rid of the team, but will be relocating the entire group to Palo Alto to become apart of the SurveyMonkey organization.
This acquisition will better the SurveyMonkey company in a multitude of ways. SurveyMonkey’s Dave Goldberg explained the acquisition in one simple sentence, â€œWufoo is the market leader in online form creation and a perfect fit for SurveyMonkey.â€
In a blog post by Wufoo, the online form company says that it will be “business as usual after today,â€ and to expect no major changes by this. â€œJust to be clear â€” SurveyMonkey is not interested in dismantling what weâ€™ve built. Quite the contrary, actually. They want to nurture it and spread it as far and wide as possible.â€ This is a smart move on SurveyMonkey’s part, this massive company is on the uprise and is an essential asset to their field.
Founded in 1999, SurveyMonkey raised $100 million in debt financing last year. The company said at that time the money was going to be used for operating costs and debt from the company, as well as leverage to make the move that it has today.