ZoomInfo Technologies was founded in 2007 and is based in Vancouver, Washington. Coinbase is adding support for the popular UPI payment instrument in India, making its eponymous cryptocurrency exchange functional in the world’s second largest internet market for the first time. The publicly listed firm, which began testing the UPI payments a few weeks ago, made the official launch at its maiden event in India on Thursday, saying that it is working to broaden its product offerings in the country. Coinbase users in India will be able to top and withdraw money to their account by using UPI network, a company executive said.
ZoomInfo plans to spend $575m to acquire Chorus.ai to broaden their offering for sales teams. Storytel’s Q1 streaming revenues came in at 699 MSEK, in line with forecasts for both the Nordics and Non-Nordics segments. This represents a +35% year-on-year growth (+33% with constant exchange rates). Adjusting ojai business center for the acquisition of the US streaming service Audiobooks.com, the organic year-on-year streaming growth was +19%. “ZoomInfo is the only company that can marry a best-in-class data layer with world-class go-to-market applications,” ZoomInfo founder and CEO Henry Schuck said in a statement.
ZoomInfo announced this morning it intends to acquire conversational sales intelligence tool Chorus.ai for $575 million. Shares of ZoomInfo are unchanged in premarket trading following the news, per Yahoo Finance data. In a July 13 blog post about the Chorus.ai acquisition, Schuck wrote that the company’s technology will help drive ZoomInfo’s position in the enterprise sales marketplace. ZoomInfo Technologies’ largest acquisition to date was in 2021, when it acquired Chorus.ai for $575M.
ZoomInfo said that its combination with Chorus will enable customers to make exceptional data-driven decisions via their sales funnel. The company said that this will be achieved by combining its top-of-the-funnel strength with insights driven from the middle of the funnel rcn business in the customer conversations captured by Chorus. This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those expressed or implied by these statements.
San Francisco-based Chorus.ai provides a cloud service that uses artificial intelligence to detect useful patterns in conversations between a company’s salespeople and customers. Chorus looks for what it calls “smart themes” in sales calls, which help managers steer sales teams toward the types of conversation and tone that is likely to drive more revenue. In fact, Chorus holds the largest patent portfolio related to conversational intelligence, according to the company. The company can compress dozens of hours of sales calls and inquiries into a 3-minute file, highlighting crucial moments from conversations, and offering sales teams and managers access to an organized database from which they can pull relevant insight. The company also deploys voice recognition technology that enables even deeper analysis of various sales calls.
In conjunction with the acquisition, Chris Hays has been promoted to President and Chief Operating Officer, and Nir Keren has been promoted to President, Israel and Chief Technology Officer. Hays, who joined ZoomInfo in 2016 and is based in the company’s Waltham, Massachusetts office, oversees all customer-facing operations, including customer success and onboarding, learning and development, as well as all aspects of the company’s go-to-market organization. Keren, who joined ZoomInfo in 2015 and is based in the company’s no monkey business Ra’anana, Israel office, oversees all technology and engineering operations, executing the product roadmap and leading the global engineering team. ZoomInfo, which provides business information to B2B salespeople, raised $935 million last year in a Nasdaq IPO. Keren says that the current acquisition is part of ZoomInfo’s strategy to expand and control a range of business information services. Chorus.ai’s platform will be added to ZoomInfo’s platform and will offer sales conversation insights to its customers.
“This enhancement is what Chorus.ai does with their Conversational AI engine used to analyze sales behavior to improve close rates. Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone. We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them. Founded in 1983 and headquartered in Palo Alto, California, Accel is a venture capital firm. A spreadsheet might yield some insights, but it’s NOT the deciding factor, and it could actually cloud the right judgement.
The company can then adjust its sales efforts accordingly to address the new competition. Chorus.ai’s AI algorithms map out which members of the sales team close the most deals and identify the customer acquisition tactics they use. With this information, companies can help their other sales representatives become more productive. Chorus.ai also provides an analytics dashboard for tracking how the number of deals closed by the company increases or decreases over time. Chorus CEO Jim Benton will become ZoomInfo’s senior vice president of emerging products as a result of the deal. ZoomInfo has agreed to acquire Chorus.ai for $575 million in cash, adding conversation analysis capabilities to the Vancouver-Wash.-based company’s offerings.