Qualtrics, which sells customer experience software as a service to companies looking to understand the best ways to keep their customers satisfied, is reportedly talking about going public later this year.
Bloomberg reported Thursday that the company, co-headquartered in Seattle and Provo, Utah, is interviewing bankers for a potential IPO. There’s still a lot that has to happen before any such event, but that’s an important step in the process of listing on the public market.
Qualtrics is in the customer-experience management business, helping companies measure and improve the ways in which their customers and employees interact with the business at various points of encounter. Last year the company hired veteran Microsoft executive Julie Larson-Green as its “chief experience officer,” where she helps Qualtrics customers develop corporate cultures designed to retain good employees and oversees design across all of its products.
According to the report, Qualtrics is valued at $2.5 billion and posted $250 million in revenue last year. Originally founded in Utah, the company has dramatically expanded its presence in Seattle over the past few years and now considers the city its co-headquarters, with over 200 employees near CenturyLink Field.