Company:ZoomInfo

From HandWiki
ZoomInfo Technologies Inc.
FormerlyDiscoverOrg
TypePublic
IndustryData broker
Founded2007; 19 years ago (2007)
Founders
  • Henry Schuck
  • Kirk Brown
HeadquartersVancouver, Washington, U.S.
Key people
  • Henry Schuck (CEO)
  • Cameron Hyzer (CFO)
  • Chris Hays (COO)
RevenueDecrease US$1.21 billion (2024)
Decrease US$97.4 million (2024)
Decrease US$29.1 million (2024)
Total assetsDecrease US$6.47 billion (2024)
Total equityDecrease US$1.69 billion (2024)
Number of employees
3,508 (2024)
Subsidiaries
  • Rainking
  • NeverBounce
  • Datanyze
  • Komiko
  • Clickagy
  • EverString Technology
  • Insent
  • Chorus.ai
  • RingLead
Websitewww.zoominfo.com/about
Footnotes / references
[1]

ZoomInfo Technologies Inc. is a registered data broker in the United States.[2] The company collects and sells personal data, both public and private, through various means of data and web scraping. Information about business entities like companies and departments are also collected and offered.[3][4] These personal information are available for sale, where other businesses can use the collected data for targeted marketing.[5]

The company is the subject of numerous complaints and multiple lawsuits concerning its collection and sales of personal data.[6][7]

History

In 2007, DiscoverOrg was founded by Henry Schuck and Kirk Brown. In February 2019, it acquired its competitor, Zoom Information, Inc. and rebranded as ZoomInfo.[8][3] DiscoverOrg's CEO Henry Schuck, CFO Cameron Hyzer, and Chief Revenue Officer Chris Hays kept their roles.[9][10] Zoom Information was established in 2000 as Eliyon Technologies by founders Yonatan Stern and Michel Decary,[8][11] and in August 2017 was acquired by Great Hill Partners, a private equity firm, for $240 million.[12]

In June 4, 2020, ZoomInfo became a publicly traded company on the Nasdaq Global Select Market under the ticker symbol “ZI.”[13]

Acquisitions

In 2017, as DiscoverOrg, the company acquired RainKing and in 2018, NeverBounce[14] and Datanyze.[15] In 2019, ZoomInfo acquired Komiko and in 2020, Clickagy and EverString Technology. In 2021, ZoomInfo acquired Insent,[16] Chorus.ai,[17] and RingLead.[18][19]

Lawsuits

Zoominfo is subject to multiple lawsuits for illegally collecting and selling personal data without consent,[20][21][22] misleading investors and artificially inflating its stock price.[23] Zoominfo is accused of "omitting truthful information about the company’s customer base, its subscription renewal practices, and other issues from SEC filings and related material" in the latter lawsuit.[23]

References

  1. ↑ "2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 25, 2025. https://www.sec.gov/ix?doc=/Archives/edgar/data/1794515/000179451525000045/zi-20241231.htm. 
  2. ↑ "Data Broker Registration for ZoomInfo" (in en). 2020-01-06. https://oag.ca.gov/data-broker/registration/185627. 
  3. ↑ 3.0 3.1 Balboa, Elizabeth (June 4, 2020). "ZoomInfo IPO: What You Need To Know" (in en-US). https://finance.yahoo.com/news/zoominfo-ipo-know-131910944.html. 
  4. ↑ "Zoom Information Inc". https://www.bloomberg.com/profile/company/7585841Z:US?embedded-checkout=true. 
  5. ↑ "Information Security - Phish Bowl" (in en). https://www.hamilton.edu//offices/lits/information-security/phish-bowl. "ZoomInfo collects data, including personal data, to sell to other businesses to use in their marketing. [Be] cautious with installing any plugins or software from ZoomInfo as it will seek to download information on you as part of their business model to sell for marketing." 
  6. ↑ "Notice of personal information processing. (This is not an advertisement) [ZoomInfo | OIT | Brown University"] (in en). https://it.brown.edu/phish-bowl-alerts/notice-personal-information-processing-not-advertisement-zoominfo. "[Zoominfo] is the subject of multiple lawsuits and other complaints concerning how it collects, uses and sells personal data, which may then be leveraged by third parties to create highly specific phishing emails. We advise you to consider how your data will be collected and used before sharing it with this company." 
  7. ↑ "Information Security - Phish Bowl" (in en). https://www.hamilton.edu//offices/lits/information-security/phish-bowl. 
  8. ↑ 8.0 8.1 Soper, Taylor (2019-02-05). "DiscoverOrg acquires ZoomInfo to strengthen sales and marketing contact database offering" (in en-US). https://www.geekwire.com/2019/discoverorg-acquires-zoominfo-strengthen-sales-marketing-contact-database-offering/. 
  9. ↑ "DiscoverOrg and ZoomInfo Merge Brands to Launch B2B Data Platform". CRM Magazine (Destination CRM). September 10, 2019. https://www.destinationcrm.com/Articles/CRM-News/CRM-Across-the-Wire/DiscoverOrg-and-ZoomInfo-Merge-Brands-to-Launch-B2B-Data-Platform-134004.aspx. 
  10. ↑ Mendonça, Elaine (August 23, 2023). "Bank of New York Mellon Corp Boosts Position in ZoomInfo Technologies Inc., Insider Trades Highlighted". Best Stocks. https://beststocks.com/bank-of-new-york-mellon-corp-boosts-positio/. 
  11. ↑ Zappe, John (2008-11-13). "New President Expected At ZoomInfo" (in en-US). https://www.ere.net/new-president-expected-at-zoominfo/. 
  12. ↑ Sawers, Paul (2017-08-17). "B2B data platform ZoomInfo was acquired by private equity firm Great Hill Partners for $240 million" (in en-US). VentureBeat. https://venturebeat.com/2017/08/17/b2b-database-zoominfo-was-acquired-by-private-equity-firm-great-hill-partners-for-240-million/. 
  13. ↑ "ZoomInfo Announces Pricing of its Initial Public Offering" (in en). https://www.nasdaq.com/press-release/zoominfo-announces-pricing-of-its-initial-public-offering-2020-06-04. 
  14. ↑ "DiscoverOrg Acquires NeverBounce". DiscoverOrg. 5 March 2019. https://neverbounce.com/press/discoverorg-acquires-neverbounce. 
  15. ↑ "ZoomInfo's Acquisition of Datanyze Enables Real-Time Delivery of Technographic Data". 26 September 2018. https://www.businesswire.com/news/home/20180926005084/en/ZoomInfo%E2%80%99s-Acquisition-Datanyze-Enables-Real-Time-Delivery-Technographic. 
  16. ↑ "ZoomInfo Acquires Insent to Enable Businesses to Implement Chat at Scale" (in en). 2021-06-08. https://www.businesswire.com/news/home/20210608005669/en/ZoomInfo-Acquires-Insent-to-Enable-Businesses-to-Implement-Chat-at-Scale. 
  17. ↑ Orbach, Meir (2021-07-13). "ZoomInfo buys Israeli company Chorus.ai for $575 million". https://www.calcalistech.com/ctech/articles/0,7340,L-3912362,00.html. 
  18. ↑ Lindenau, Kelly (September 9, 2021). "ZoomInfo Acquires RingLead to Combine, Cleanse & Route Disparate Data Sources". https://www.demandgenreport.com/features/news-briefs/zoominfo-acquires-ringlead-to-combine-cleanse-route-disparate-data-sources/. 
  19. ↑ "ZoomInfo S-1". https://www.sec.gov/Archives/edgar/data/1794515/000162828020002344/zoominfos-1.htm. 
  20. ↑ Burda, Douglas (2025-01-29). "Unraveling the ZoomInfo Class Action Lawsuit: What You Need to Know" (in en-US). https://goultralaw.com/blog/unraveling-the-zoominfo-class-action-lawsuit-what-you-need-to-know/. 
  21. ↑ Brown, Christopher (2024-09-06). "ZoomInfo Sued Again for Use of Personal Info to Promote Services". Bloomberg Law. https://news.bloomberglaw.com/litigation/zoominfo-sued-again-for-use-of-personal-info-to-promote-services. "ZoomInfo Technologies LLC is facing a proposed class action alleging it misappropriated the personal information of consumers to sell its services in violation of the Washington Personality Rights Act. [The plaintiff] alleged [the company to have] used her name and personal information to advertise and promote its products and services without her consent despite the fact that she never interacted with the company. [The] lawsuit comes two months after the company agreed to pay $30 million to settle a similar lawsuit from residents of California, Illinois, Indiana, and Nevada, Ramos v. ZoomInfo Techs. LLC." 
  22. ↑ Firm, The Gross Law. "ZoomInfo Technologies Inc. Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before November 4, 2024 to Discuss Your Rights - ZI" (in en). https://www.prnewswire.com/news-releases/zoominfo-technologies-inc-securities-fraud-class-action-lawsuit-pending-contact-the-gross-law-firm-before-november-4-2024-to-discuss-your-rights--zi-302266502.html. 
  23. ↑ 23.0 23.1 Sheth, Sheryl (2024-10-24). "Class Action Lawsuit Against ZoomInfo Technologies Inc. (NASDAQ:ZI)". https://www.nasdaq.com/articles/class-action-lawsuit-against-zoominfo-technologies-inc-nasdaq-zi. "A class action lawsuit was filed against [ZoomInfo on] September 4, 2024 [.] According to the lawsuit, ZoomInfo and two of its senior [directors] repeatedly made false and misleading public statements [... particularly,] they are accused of omitting truthful information about the company’s customer base, its subscription renewal practices, and other issues from SEC filings and related material." 

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