SurveyMonkey CEO on IPO day: We pay 'great heed' to protect customer data

  • SurveyMonkey CEO Zander Lurie says Silicon Valley has a responsibility to protect consumers' data.
  • Breaches of data privacy have prompted lawmakers to doubt that tech successfully regulate themselves.
  • "We pay great heed to our customers' data," Lurie says, as the U.S. online survey company he leads gets ready for its first day of stock trading.

As lawmakers consider whether tech companies should be regulated, SurveyMonkey CEO Zander Lurie says it's Silicon Valley's responsibility to protect consumers' data.

"We pay great heed to our customers' data," Lurie said Wednesday in a "Squawk Box" interview ahead of the U.S. online survey company's first trading day on the Nasdaq. "We all have to be on the forefront."

Lurie said the San Mateo, California-based company handles more than 20 million answers from over 3 million people every day. He said SurveyMonkey complies with Europe's data privacy law, GDPR.

Breaches of data privacy have compromised personal information of millions of U.S. internet and social media users, prompting lawmakers to doubt that tech firms successfully regulate themselves.

Earlier this month, Twitter CEO Jack Dorsey and Facebook COO Sheryl Sandberg spoke with lawmakers on social media's role in protecting elections from misinformation and disinformation. Alphabet's Google unit was not there.

But on Wednesday, before a Senate panel, Google chief privacy officer Keith Enright will acknowledge "mistakes," according to prepared testimony. Enright will testify alongside executives from other companies, including Amazon and Apple.

Lurie told CNBC, "We have an incredible amount of data that we use on our platform everyday," and the company, along with others, needs to pay attention to regulators' concerns about privacy.

SurveyMonkey's parent, SVMK, priced its initial public offering on Tuesday evening at $12 per share, above the expected range. SVMK also increased its offering to 15 million shares.

SurveyMonkey's main investors include Facebook's Sandberg, whose late husband, Dave Goldberg, previously ran the company, and Tiger Global Management. SurveyMonkey ranked No. 14 on this year's CNBC's Disruptor List.

— Reuters contributed to this report.