Last year was a challenging one for Zendesk, but the company has emerged stronger than ever with a new private equity owner and a dynamic CEO at the helm.

Having started in 2007 and raised over $85 million in funding, Zendesk went public in 2014, quickly growing to over $1 billion in revenue. However, the company faced a series of setbacks last year.

In February 2022, Zendesk turned down a $17 billion takeover bid, opting to hold out for a better offer. Despite this bold move, the company faced further challenges when its investors rejected a $4.1 billion acquisition of SurveyMonkey later that month.

With activist investors circling, Zendesk ultimately agreed to a $10.2 billion buyout by Permira and Hellman & Friedman. Longtime CEO Mikkel Svane stepped down, making way for industry veteran Tom Eggemeier to take the reins.

Despite the turmoil, Zendesk managed to maintain its fourth-place position in the customer service market, demonstrating resilience in the face of uncertainty.

Turning the tide

Despite the upheaval, Zendesk’s market share remained stable, showcasing the company’s ability to weather the storm and retain its customer base. We caught up with CEO Tom Eggemeier to learn more about how he navigated the challenges and steered the company back on course.