Just twenty short months after SAP announced their intention of acquiring Qualtrics for $8 billion just prior to their IPO SAP is taking Qualtrics public.
“We really took a strategic imperative about two and a half to three years ago to step up our enterprise game,” says SurveyMonkey CEO Zander Lurie. “This has been a company that has thrived in going direct to end-users. We’ve built up a user base, a paid customer base, today of almost 700,000 people.”
“There’s a gap between what they think is happening and really what’s going on,” says Qualtrics CEO & Co-Founder Ryan Smith. “So we said, hey, we’re going to go hard into developing the coolest, easiest, and most sophisticated employee experience…
“Where did we leave them in the dust? We basically out innovated everybody in terms of how you run your business better. Now the idea is how you create an unbelievable human experience so you inspire your people to take care of your customer and create a loyalty effect.”
SAP released a compilation video (below) featuring SAP CEO Bill McDermott and Qualtrics CEO Ryan Smith that really sums up well why SAP is acquiring Qualtrics.
SAP CEO Bill McDermott says that buying Qualtrics creates a “global growth juggernaut in the cloud, the number one business software growing in the cloud in the world.” McDermott says that he’s here to build a company for the generations, not just for a few days.