Salesforce is reportedly in negotiations to acquire Listen Labs, an AI-driven customer research startup, for approximately $2 billion. The deal remains ongoing and could still fall through, according to reports.
The proposed valuation is four times higher than the $500 million valuation Listen Labs held eight months ago. The startup currently generates $30 million in annualised revenue, which implies a revenue multiple of roughly 67 times.
Listen Labs previously walked away from a $125 million Series C funding round led by Menlo Ventures at a $1.5 billion valuation. The company has raised a total of $100 million to date, including a $69 million Series B round in January led by Ribbit Capital.
Since its launch in April 2025, Listen Labs has conducted over one million interviews and expanded its client list to include companies such as Microsoft, Anthropic, Google, Nestlé, Sweetgreen, and Perplexity. The platform utilizes a panel of more than 30 million pre-qualified participants.
This potential acquisition would mark Salesforce's fourth AI-related deal this year, following the acquisitions of Qualified for $1.2 billion, Contentful for $1.5 billion, and Fin for $3.6 billion. The company also acquired Informatica for $8 billion in 2025.
