Stocks
Salesforce Eyes Listen Labs Deal Valued Near $2 Billion
Listen Labs, an AI market research startup, has decided to walk away from a signed $125 million Series C term sheet.
The valuation of Listen Labs was set at $1.5 billion for this financing round, but the company opted out to pursue acquisition talks with Salesforce instead.
Sources familiar with the matter report that Salesforce is exploring a deal valuing Listen Labs near $2 billion, nearly four times its previous valuation of $500 million in January 2023.
Listen Labs generates about $30 million in annualized revenue and serves Fortune 500 clients including Microsoft, Canva, Anthropic, and Sweetgreen.