Qualtrics (also known as one of SurveyMonkey’s rivals) is reportedly gearing up to raise the price range of its upcoming IPO, which could put its market cap value at over $15b. The software company, which tracks employee and customer sentiment, was bought by SAP (SAP) for $8b recently but is now preparing to spin out and become its own public entity.
The company’s initial IPO filing set the price range between $22 and $26 per share, which many at the time considered rather low. With the new $27-29 price range adjustment, Qualtrics could raise as much as $1.5b when it debuts.
SAP will still remain its largest shareholder with an 80% stake. And incase you’re unaware, SAP is a tech giant that develops software for companies across different industries.