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December 1, 2020

Facebook Pays Reported $1 Billion for Kustomer CRM

Facebook Pays Reported $1 Billion for Kustomer CRM

Kustomer

CyberMonday may be the hardest day of the year for call centers, so I guess I’ll cut some slack to the company that – wait, they don't deserve it. WellCare transferred me between five agents and still couldn’t complete an address change. I canceled my account. It’s the sort of outcome that makes customer service tech company Kustomer worth roughly $1 billion to Facebook, which just bought them.

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Vista Equity Buys Control of Gainsight at $1.1 Billion Valuation

Gainsight

I also gave up trying to upgrade my cable TV service after several agents quoted wildly different prices while (by the sound of it) sitting in a noisy train station. They might have benefited from customer success platform Gainsight, which just sold a majority of its shares to Vista Equity Partners at a reported $1.1 billion valuation.

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ServiceNow Acquires Element AI for $500 Million

ServiceNow

I had a better experience opening the WellCare replacement account, although the very nice agent kept telling me he was copying data into two different systems. He was intrigued to learn that products like ServiceNow can automate that sort of thing, although of course he wasn’t in a position to buy one. ServiceNow itself just bought Element AI, which will add more AI capabilities to their workflow automation. Price is estimated at $500 million.

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