SAP’s Bold Move: Qualtrics to Hit the Markets
On Monday, SAP dropped a bomb: Qualtrics will go public in the U.S. IPO game. SAP will stay the biggest shareholder, but this shuffle aims to give Qualtrics the boost it needs to dominate the Experience Management (XM) arena.
Why It’s a Game‑Changer
- Growth Unleashed – Qualtrics can now tap fresh capital to expand its XM footprint both inside SAP’s huge customer base and beyond.
- More Autonomy – Though SAP keeps the majority stake, Qualtrics will operate like an independent powerhouse, steering its own initiatives, deals, and talent hunt.
- Glue Together Experience & Ops – With SAP’s global reach, the combined X+O (Experience + Operational) data stack becomes a worldwide playbook for action.
Voices Behind the Decision
“The put‑on at SAP crushed our 2019 cloud growth expectations – 40% plus! We’re thrilled that Qualtrics can keep building on this momentum,” says Ryan Smith, founder and CEO. He adds, “Getting an IPO is the smartest route to grow XM, help customers, and bring in fresh talent.”
Ryan, along with Zig Serafin and the team, believes a public debut gives Qualtrics the freedom to partner across ecosystems and not just sit inside SAP’s ecosystem.
What Stays the Same
Despite the IPO, SAP will keep its role as Qualtrics’ largest go‑to‑market and R&D buddy. SAP owns a solid majority of shares and has no plans to spin them off; Ryan Smith will remain the company’s largest individual shareholder.
Financial Impact
Because SAP retains full consolidation of Qualtrics, the move won’t shake up SAP’s 2020 or long‑term financial forecasts. An IPO depends on market vibes, so the exact timing is still pending.
Bottom Line
Qualtrics is heading public, and with SAP’s backing, it’s poised to scale XM to the next level—freeing itself to innovate, partner globally, and keep growing into the leading experience platform.
