Summary List Placement
Qualtrics has poached three senior executives to beef up its leadership bench from Adobe, Salesforce and Twilio. The company is preparing to spin out of parent company SAP in an IPO that could value the company at over $14 billion.
Qualtrics bills itself as the creator of a market segment called “experience management,” or “XM,” providing software that allows companies to survey customers and employees to get feedback they can use to improve their products and services. In its IPO filing late last year, Qualtrics said that it sees XM as a $60 billion market.
To help it chase that opportunity, Qualtrics announced on Thursday that it has signed on Adobe’s Julia Anas as its chief people officer, Twilio’s Edward Chen as its head of corporate development and strategy, and Salesforce’s Gina Sheibley as its chief communications officer.
Anas and Sheibley will be moving from the San Francisco Bay Area to be closer to Qualtrics’ headquarters in Provo, Utah, in another instance of tech talent leaving Silicon Valley amid the pandemic.
Anas was previously Adobe’s vice president of employee experience and was a core member of its global COVID-19 crisis management team. She has also led teams at Symantec, Intuit, and other tech companies.
Chen spent over five years at Twilio and worked as its head of corporate development. He grew Twilio from a pre-IPO company to the $61 billion company it is today, has led over 10 acquisitions, including the $2 billion acquisition of SendGrid and the $3.2 billion acquisition of Segment. He also worked at VMware for over five years.
Sheibley spent eight and a half years at Salesforce and was most recently its senior vice president of corporate communications. She led communications for over 100 acquisitions, including Salesforce’s $15.7 billion acquisition of Tableau and $6.5 billion acquisition of MuleSoft. Sheibley also worked at Symantec for seven years before that.
Sheibley and Anas will be two of the most senior-ranking women at Qualtrics.
Qualtrics has grown to 3,300 employees and has over 12,000 customers like Adidas, Goldman Sachs, the NBA, and Microsoft. Qualtrics’ upcoming IPO prices its shares between $20 to $24, valuing it between $12 billion to $14.4 billion, according to its S-1. Qualtrics plans to list on NASDAQ under the ticker symbol “XM.”
The forthcoming IPO represents Qualtrics’ second shot at going public: In October 2018, the company was days away from going public when SAP swooped in and announced it would acquire Qualtrics for $8 billion.
In July — just a year and a half after the acquisition closed — SAP announced that it intended to take Qualtrics public, in reflection of the opportunity it sees for the company to chase the XM market opportunity as an independent entity.
Qualtrics, founded in 2002 by CEO Ryan Smith, his brother, and his father, took no venture capital for a decade, until it raised $70 million in Series A funding from Sequoia and Accel. In all, it raised $400 million before its …read more
Source:: Business Insider