TechTaffy

tech:

taffy

Google Becomes Shareholder, SurveyMonkey Valued At $1.35B

By TechTaffy Desk

SurveyMonkey

[Techtaffy Newsdesk]

SurveyMonkey, a privately-held company that offers Web-based survey solutions, has initiated an $800 million debt and equity recapitalization, led by CEO Dave Goldberg and Tiger Global Management. Google is also becoming a new shareholder. The recapitalization pegs the company at a valuation of approximately $1.35 billion.

Upon the closing of the transaction, Lee Fixel, Partner at Tiger Global, will join SurveyMonkey’s Board of Directors. David Lawee of Google will also join the board as an observer.

 

The recapitalization will consist of two stages. In the first step of the transaction, existing early investors in the Company sold approximately $444 million in equity to a group of new and existing shareholders. The equity sale closed in late December. To complete the recapitalization, SurveyMonkey expects to raise an additional $350 million in debt financing. The proceeds from the debt will be used to buy shares from employees and shareholders as well as retire the Company’s existing debt.

 

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.