In 2024, YouGov, a prominent polling firm co-founded by Nadhim Zahawi and Stephan Shakespeare, faced a dramatic decline despite operating in a year with 2 billion voters across 50 countries. The firm, which had previously enjoyed a market value of £1.8 billion in 2021, saw its worth plummet to just £440 million by the end of the year. This decline was exacerbated by a profit warning issued in the summer of 2024, which led to a staggering 70% drop in share prices [ef840f7d].
The company's challenges were attributed to a combination of economic malaise and a costly €315 million acquisition of GfK's consumer panel services, which raised concerns among investors about high debt levels and profit downgrades. In response to these financial pressures, new CEO Steve Hatch, who took over in summer 2023, announced a £20 million cost-cutting plan to stabilize the company's finances [ef840f7d].
Adding to YouGov's woes, recent polling conducted for The Economist indicated that Vice President Kamala Harris was leading Donald Trump in the upcoming presidential election, further complicating the firm's position in the competitive polling market [ef840f7d].
As YouGov navigates through these turbulent waters, plans to move its listing to New York have been shelved, reflecting the company's cautious approach in a challenging economic environment. The firm’s struggles highlight the difficulties faced by polling organizations in accurately capturing public sentiment during a tumultuous election year [ef840f7d].