Friday, August 12, 2022
Aug. 12, 2022

Linkedin Pinterest

ZoomInfo, formerly DiscoverOrg, files for IPO

By , Columbian Innovation Editor
Published:

One of Vancouver’s largest employers, ZoomInfo, formerly DiscoverOrg, announced it is seeking approval from regulators for an initial public offering to sell shares in the company, the company said on Tuesday.

The software company did not disclose the number of shares and the price of the stock, according to a news release.

The filing is a confidential registration for an Initial Public Offering with the Securities and Exchange Commission. The IPO will be determined after the SEC completes a review process, according to the news release.

ZoomInfo’s Vancouver location at 805 Broadway employed 560 workers in Vancouver as of February.

CEO Henry Schuck founded Vancouver-based marketing intelligence company DiscoverOrg in 2007 and built it into one of the city’s largest employers. In February, DiscoverOrg announced it acquired one of its chief competitors, Zoom Information Inc. of Waltham, Mass, for a reported $500 million. The company then changed its name to ZoomInfo in September.

DiscoverOrg’s software gathers contact information and other data from businesses with artificial intelligence and research teams. It’s mainly used as a business-to-business marketing tool.

According to Zoominfo.com, the company employs 1,000 people total and serves 13,500 customers. It generates about $350 million in revenue every year.

Pending approval of the IPO, the software company will join a handful of other Clark County businesses on the public stock market, including Nautilus Inc. and nLIGHT.

ZoomInfo also purchased an AI data company called Komiko based in Redmond earlier this month. Price of that sale was not disclosed.

The Columbian could not immediately reach ZoomInfo for comment.

Support local journalism

Your tax-deductible donation to The Columbian’s Community Funded Journalism program will contribute to better local reporting on key issues, including homelessness, housing, transportation and the environment. Reporters will focus on narrative, investigative and data-driven storytelling.

Local journalism needs your help. It’s an essential part of a healthy community and a healthy democracy.

Community Funded Journalism logo
Loading...