Listen Labs Abandons $125M Series C at $1.5B Valuation Amid Salesforce Talks

M&A · PartnershipProduct / Tech
โดย TechCrunch·US·Read original
Summary · why it matters

Listen Labs, a market research startup that uses voice AI to conduct customer interviews, walked away from a signed term sheet for a $125 million Series C at a $1.5 billion valuation that Menlo Ventures was set to lead, according to several people with knowledge of the matter. The round never closed, a rare move in venture capital that VCs generally frown upon, and the financing likely collapsed because of acquisition talks with Salesforce, which has recently held discussions to buy Listen Labs for around $2 billion, Business Insider reported. Those talks are not finalized and may not result in a deal. The three-year-old startup has about $30 million in annualized revenue, roughly three times more than competitor Simile, which in late July announced a $200 million Series B at a $2 billion valuation led by Greenoaks, likely setting a new benchmark for Listen Labs. If the Salesforce talks collapse, several VCs told TechCrunch they expect Listen Labs to return to market targeting a valuation of $2 billion or higher, though one person with experience negotiating exits to Salesforce said the CRM giant may decide that paying a 67 times revenue multiple is too steep. Listen Labs was previously valued at $500 million when it announced a $69 million Series B in late January led by Ribbit Capital, with participation from returning backers Sequoia, Conviction, and Pear VC, and its customers include Microsoft, Canva, Anthropic, and Sweetgreen.

Impact on stocks 3

Artificial Intelligence▲ · 2 stocks
Salesforce.com Inc
CRM
± MixedCapitalrelevance

Salesforce has held talks to acquire Listen Labs for around $2 billion, but the deal is not finalized and may not happen.

Consumer Discretionary▲ · 1 stocks

Theme Impact 1

Off-coverage companies 10

Listen LabsPrivate▲ Positive
Capitalrelevance

Listen Labs abandoned a $125M Series C at a $1.5B valuation amid acquisition talks with Salesforce reportedly around $2B.

AnthropicPrivate± Mixed
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ConvictionPrivate± Mixed
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Greenoaks Capital PartnersPrivate± Mixed
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Menlo VenturesPrivate± Mixed
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Pear VCPrivate± Mixed
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Ribbit CapitalPrivate± Mixed
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Sequoia CapitalPrivate± Mixed
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SimilePrivate± Mixed
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TechCrunchPrivate± Mixed
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