Zendesk Acquires Momentive To Expand Market Growth
SurveyMonkey’s parent company merges with Zendesk to bring complete market insights products to the growing CRM platform.
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Customer support software Zendesk has announced its major acquisition of Momentive, a digital experience management company most famous for being the parent company of SurveyMonkey. The acquisition is strategically designed to help Zendesk create engaging and personalized relationships with its customers.
“The SurveyMonkey brand is iconic and we’ve admired their business from afar since the inception of Zendesk. They truly democratized an industry—almost everyone in the world has responded to one of their surveys at some point,” said Mikkel Svane, CEO & Founder, Zendesk.
“We’re very excited to have them join the Zendesk mission along with Momentive’s market research and insights products and together create a powerful new Customer Intelligence company. We will deliver a rich, colorful picture of every customer so businesses really understand their customers and can build more authentic relationships.”
In the digital world companies are surrounded by consumer data, yet many still miss the mark because they don’t understand it. With the acquisition of Momentive, Zendesk aims to help its users gather actionable insights from every customer engagement.
By understanding consumer buying habits and interests, companies can confidently make more efficient decisions that result in more revenue. With the new partnership expected to close in early 2022, businesses will have the ability to focus more on:
- Understanding customer needs, experiences, and expectations
- Developing data-driven strategies to streamline engagements
- Act accordingly to insights and the leads they generate
With the combination of the two industry leaders, Zendesk expects to grow its revenue to $3.5 billion by 2024. In 2020, the company experienced 26 percent growth to reach revenue over $1 billion.
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Since Zendesk was founded in 2007, it has been delivering quality customer experiences to its users in a competitive market featuring major players such as Salesforce and ServiceNow. The company has experienced major growth in recent years and is now trusted by over 100,000 brands wording to connect to hundreds of millions of customers and empower billions of conversations.
Momentive combines technology and AI to provide its users with valuable market insights. Its brand products such as SurveyMonkey are used by more than 20 million professionals at 345,000 organizations around the world to drive better customer experiences.
“We look forward to combining with Zendesk to advance our mission and accelerate our long-term growth strategy,” said Zander Lurie, CEO, Momentive.
“This is a testament to the strength of our agile products and talented team. Zendesk and Momentive share a culture centered around our people, our communities and the customers we serve. The synergies between our companies are proximate and compelling. We are uniquely positioned to make Customer Intelligence a reality while delivering significant value for our shareholders.”