SurveyMonkey, one of the best and most popular web survey provider, has acquired the hip startup Wufoo for $35 Million in cash and stock. Wufoo, though much smaller in size than SurveyMonkey, provides a more diverse range of services including forms, surveys, invitations and just about anything that can be build using their WYSIWYG form building technology.
One of the YCombinator startups, Wufoo has been doing well in the recent past by continuously adding more features and making their platform one of the most-user friendly ones when it comes to creating forms. According the founders, SurveyMonkey will keep all the Wufoo services and will actually help to grow them in international markets and allowing them to utilize the SurveyMonkey technologies to solve problems such as improving the data collection systems. The entire team of Wufoo will move to SurveyMonkey offices in Palo Alto, California to be integrated into the new organization.
The acquisition comes as a surprise to many, however, after their $100 Million debt financing late last year, SurveyMonkey has been growing quite rapidly and this opportunity will provide the two startups with considerable synergies and a wider/better range of services from a single platform.