UV50 Economic Engines: No. 2 Qualtrics


CITY Provo FOUNDED 2002 EMPLOYEES 1,500 INDUSTRY Technology WEBSITE Qualtrics.com FOUNDER Ryan Smith, 40; Scott Smith; Jared Smith; Stuart Orgill THE COMPANY An enterprise survey platform provider.


1. Survey says Qualtrics is dominating, starting with its most recent valuation of $2.7 billion in July 2018. While the company is inching toward an IPO — Smith told Forbes that “The goal is not the IPO. It’s beyond that.”

2. Qualtrics’ customer base is more than 8,500 businesses, including international brands like Coca-Cola, Disney, Target Microsoft, NBC, and JetBlue.

3. The company is spread across nine countries on four continents, and it is cash-flow positive, with more than $250 million in revenue on “accelerating” growth.

4. 65% of the Fortune 500 use Qualtrics; 99 of the top 100 U.S. business schools use Qualtrics; and 76% of the Fortune 100 use Qualtrics.

5. Qualtrics started 5 for the Fight, a movement that invites everyone to give $5 to the fight against cancer. Smith’s dad, Scott Smith, came up with the idea for Qualtrics while battling cancer. Smith dropped out of school to support his dad through radiation and to help build the business.


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