ZoomInfo closes its center in Israel and lays off 300 workers

As a result of the closure, about 300 people will be laid off – mainly technical specialists, engineers, product managers and data analysts.

The first group of employees will complete their work by the end of this month, the rest will be laid off sequentially by the end of the year. Within a week, each employee will receive an individual notification indicating the date of dismissal and the terms of the compensation package.

ZoomInfo was founded in 2000 in Boston by Israeli entrepreneur Jonathan Stern and programmer Michel Decri. In 2017, the company was first sold to the American private investment fund Great Hill Partners. Two years later, it was acquired by a direct competitor, the American business intelligence company DiscoverOrg, founded in 2003 by Iranian-born entrepreneur Henry Shuck at the age of 23.

After the deal, DiscoverOrg abandoned its own brand and took the name of the acquired company. In 2021, ZoomInfo made a major acquisition in Israel, purchasing startup Chorus.ai for $575 million in cash.

The decision to close was made on the eve of the publication of the company’s quarterly reports, which are expected to be released tomorrow. In recent years, ZoomInfo has faced slowing growth, intense competition and technological changes in the AI ​​space.