Utah Cloud Unicorn Qualtrics Files To Raise Up To $200M In IPO

One of Utah and cloud computing's most promising unicorns is looking to graduate out of the herd. Qualtrics filed an S-1 with the SEC on Friday, announcing its intent to raise up to $200 million in an initial public offering.

Qualtrics didn't list a target share price in its filing, its first public one in a multi-month process. Qualtrics plans to list on Nasdaq under the symbol "XM."

The company, which offers online surveys and other tools to track customer and employee feedback — what CEO Ryan Smith has coined as "experience management," hence the ticker symbol — reported revenue of $289.9 million in 2017, up 52 percent from the year before. Qualtrics took in $184.2 million in revenue for the first six months of 2018; annualized (though Qualtrics' revenue is growing over time), that would mean it was growing 27 percent from last year.

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Forbes Sun, 10/21/2018 - 21:36