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Published September 20, 2024
If you enjoy receiving unsolicited marketing calls and emails, you can thank your friends at ZoomInfo Technologies. This software and data company’s principal product is a data platform that provides customer contact and business information to sales and marketing teams. It may annoy consumers, but it’s good business- or it at least it was until ZoomInfo stocked declined by ninety percent. Now it’s not just consumers who are angry, it’s shareholders too, and they’ve filed a lawsuit.
The lawsuit claims that the positive effect COVID-19 had on ZoomInfo’s growth was short lived, and large portions of ZoomInfo’s customer base were trying to lower their usage or abandon the product altogether. ZoomInfo used a bevy of unethical tactics to retain customers including manipulative and coercive auto-renew policies and threats of litigation, and these tactics had materially damaged the Company’s customer relationships, client franchise, and competitive advantages.
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