Coding

Qualtrics Opens Two Years After Purchase By SAP

“Qualtrics sign” by Ben P L is licensed under CC BY-SA 2.0

On November, 11, 2018 Qualtrics was bought by SAP, a German multinational software corporation based in Walldorf, Baden-Württemberg.

SAP develops enterprise software to manage customer relations and business operations. SAP bought Qualtrics 4 days before its intended IPO.

Qualtrics is an experience management company in the United States. It is a website based software which allows its users to create reports and generate surveys without any programming knowledge needed.

When Qualtrics opened, its shares blew up 50 percent in the first day closing at $45.50. Qualtrics raised $1.55 billion in the move, with shares constantly trading under the symbol XM and trading on the Nasdaq index.

Smith started the company with his father in their basement in 2002. These days it has 3,500 employees and 13,000 customers including Disney, Uber and the US Census, who use the companies software to get feedback from their from their customers and employees about how to improve their company.

Qualtrics is a well-known company, which hosts a yearly conference that gets thousands of people into Salt Lake City. The people listen to presentations from famous people such as President Barack Obama and Virgin Galactic founder Richard Branson, who both spoke in 2019.

Smith said he doesn’t regret selling to SAP. He also is glad he stayed to work with SAP to further develop the company.