SurveyMonkey Announces Agreement to Sell TrueSample TrueSample to operate as independent company under leadership of current management team
PALO ALTO, Calif., Oct. 9, 2013 /PRNewswire/ -- SurveyMonkey, the world's most popular online survey company, today announced it has entered into an agreement to sell TrueSample, the leader in online data quality solutions to a group of investors led by Five Peaks Capital Management. TrueSample will be independently operated, and will continue to develop and offer industry leading data quality solutions for market research customers across research methodologies, geographies, consumer devices, and technology platforms.
TrueSample is the industry's only fully multi-dimensional data quality solution -- effectively screening out fake, duplicate, unengaged and unqualified survey respondents while also identifying survey design problems. TrueSample's simple three-step process of Panelist Validation, Survey Validation, and SurveyScore eliminates the need for manual data cleaning and validation, which is expensive, highly subjective, and difficult to scale. TrueSample can work with any survey platform and with any sample source, so end-client organizations, research firms, and sample firms alike can depend on consistent and reliable results. SurveyMonkey acquired the TrueSample business in early 2012 from TPG Growth as part of a larger transaction.
"Research and sampling processes are becoming increasingly complex and so the transparency, control, and consistency provided by TrueSample will become ever more important as companies look to manage data quality in faster and easier ways," said Mark Menig, General Manager of TrueSample. "This move positions us perfectly to be an independent technology provider to our customers and we are excited to refocus the business on the rapid development and deployment of new and innovative services on the TrueSample platform. There is a great growth opportunity out there for us and we are excited to begin a new chapter in the history of TrueSample."
"It has been a pleasure working with the highly talented TrueSample team, and we are confident becoming an independent industry solution is a natural evolution for their business," said Dave Goldberg, CEO, SurveyMonkey. "The tremendous growth of SurveyMonkey's self-service and real-time survey solutions validates the model of our core business. With this focus in mind, we recognized TrueSample is better positioned as an independent company."
TrueSample is trusted by the industry's largest research buyers, research firms and sample suppliers. TrueSample has certified 98% of all U.S. online panelists and over 75 million survey responses. All TrueSample product enhancements are guided by the input of the TrueSample Quality Council. Founded in 2008, the council is composed of key industry research buyers, research firms, and sample providers; all dedicated to elevating the quality and efficacy of online research.