SurveyMonkey expands into app insights after quietly buying Renzu, based by Zynga alums

SurveyMonkey expands into app insights after quietly acquiring Renzu, founded by Zynga alums

SurveyMonkey has made a reputation for itself with cloud-based mostly instruments that allow you to construct and analyze on-line surveys. Now the corporate needs to make use of its foothold in a single space of market analysis to broaden into one other. At present, SurveyMonkey is launching a brand new enterprise providing app analytics, particularly aggressive cellular app insights.

SurveyMonkey Intelligence — as the brand new product is known as — is constructed on the acquisition of Renzu, a small startup based by a staff of Zynga alums. SurveyMonkey appears to have quietly bought the corporate in Might 2015, though the businesses are solely formally making it public right now.

Priced on a freemium foundation (with a primary set of insights for free of charge, and paid tiers beginning at $seventy nine), Intelligence will begin with knowledge monitoring round 1,000 of the preferred cellular apps within the U.S. market. Customers will have the ability to monitor areas like lively utilization by weekly and month-to-month durations, churn and engagement; leaderboards based mostly on numerous metrics; viewers demographics; and obtain and income numbers — creating graphics that allow you to chart how totally different apps carry out versus others. Like this:

SurveyMonkey expands into app insights after quietly acquiring Renzu, founded by Zynga alums

SurveyMonkey Intelligence is hitting the market with the facility of its present enterprise previous it — a enterprise that SurveyMonkey’s CEO Zander Lurie stated in an interview is already “tremendous worthwhile,” producing revenues of greater than $200 million with a revenue margin of greater than 30 %, with the larger firm at this time reportedly commanding a $2 billion valuation.

SurveyMonkey has but to set a date for any “future liquidity occasion,” as Lurie refers back to the prospect of a public providing or different fundraising. However the truth that the corporate is launching this new product is an indication of the way it hopes to diversify its enterprise and increase its place as an viewers knowledge powerhouse. And it’s not all the time a assure that success in a single space will result in hanging gold in one other. Simply final month, the corporate let go of one hundred individuals — thirteen % of employees — because it restructured its survey merchandise for enterprises.

“I don’t get up day-after-day and assume, ‘How can we improve revenues from our clients?’ I feel, ‘How can we allow nice selections?’” Lurie stated. And with that, he attracts a hyperlink between the corporate’s legacy and new merchandise: “We are within the suggestions enterprise.”

Nonetheless, with Intelligence, SurveyMonkey is getting into a really crowded area, competing towards the likes of App Annie, Mixpanel, Appcelerator, Flurry, SimilarWeb and lots of extra.

However whereas there are already a whole lot of merchandise available on the market at this time providing a point of aggressive perception on different apps, Renzu got here into existence as a result of a few of the world’s prime app builders believed that what was available on the market already was not ok.

“Engaged on the ‘With Pals’ staff at Zynga, everybody frequently freaked out when a brand new recreation out of the blue turned common,” stated Abhinav Agrawal, the co-founding father of Renzu who was Zynga’s VP of video games and GM for the With Associates franchise. “All we might do is depend on hype. When QuizUp hit the market, we dropped every part to create a competitor. It turned out to be pointless [QuizUp’s boom was short-lived] nevertheless it did imply all of our different tasks stalling for 3 months.”

And that occurred greater than as soon as (which might be a separate story in itself concerning the challenges of life at Zynga/a cellular video games studio). There needed to be a better and extra foolproof approach to look past the hype, he and his different ex-Zynga co-founders Arjun Lall and Jason Tomlinson thought, and that’s what led to them constructing Renzu. (It seems that all three are becoming a member of SurveyMonkey.)

Whereas SurveyMonkey’s on-line survey product is choose-in by its nature, the brand new Intelligence service takes the corporate into a brand new frontier relating to accumulating knowledge: Agrawal stated that the insights it picks up don’t come from the app makers, however from a consultant panel of tens of hundreds of customers who choose in to offer info on how the apps are used. In trade, Agrawal stated that customers are given insights about their very own app and knowledge utilization, or are provided a donation to make to a charity of their selection.

SurveyMonkey so far has raised $seven hundred million, and Renzu is the corporate’s sixth acquisition. Phrases of the deal weren’t disclosed.