ZoomInfo Renamed Its Ticker to GTM. Fourteen Months Later It Trades Under $1B.

ZoomInfo Renamed Its Ticker to GTM. Fourteen Months Later It Trades Under $1B.

ZoomInfo announced in May 2025 that it was switching its Nasdaq ticker from ZI to GTM, taking the category name as its own symbol. Fourteen months later, when I pulled the marks on 29 July 2026, the same company was worth $967 million. Almost nobody noticed.

Here is what the GTM software leaders were actually worth on that date, and, more usefully, when each of those prices was set.

The three you can price in real time

1. Salesforce. $148.7B, down 54 percent from $320B at the end of 2024.
2. HubSpot. $12.2B, down 66 percent from $36B over the same 19 months.
3. ZoomInfo. $967M, down 96 percent from $25.9B at the end of 2021.

One caveat before anyone quotes these back at me: public marks move, and these move a lot. Checking again in early August 2026, public trackers put Salesforce near $153B and ZoomInfo back above $1B, having shown it around $0.85B in late June. A company whose market capitalisation swings 40 percent inside six weeks is not being repriced by a category thesis. It is being repriced by whoever is selling that week. The trend across 19 months is the durable part. The specific figure is a snapshot with a date attached, which is exactly how I would like you to read it.

Same caveat on HubSpot. My 66 percent is measured from its end-2024 level. Public trackers in early August 2026 showed it down roughly 54 percent over the trailing twelve months and trading more than half below its 52-week high set in September 2025. Different windows, same direction.

The private side, with the date each price was set

4. 6sense. $5.2B, January 2022.
5. Clay. $5.0B, January 2026.
6. Gong. $4.5B in reported secondary talks, November 2025. Down from $7.25B in 2021.
7. Outreach. $4.4B, June 2021.
8. Clari and Salesloft. Merged December 2025, terms undisclosed. Last standalone marks $2.6B and $2.3B.
9. Apollo.io. $1.6B, August 2023.
10. Rox. $1.2B, round closed 2025.
11. 11x. Around $350M, 2024.
12. Unify. $260M, July 2025.

Only four of those nine carry a price set in the last 18 months. The rest are quoting 2021 to 2024, or nothing at all.

Why stale private marks mislead buyers specifically

This is the part most market maps skip, and it matters more to a buyer than to an investor.

A private valuation is a price struck once, between a small number of parties, on a particular day, under whatever terms that round carried. It does not update. When a public comparable falls 96 percent over five years, every private mark set before that fall is quoting a world that no longer exists, and it keeps quoting it until the company raises again or sells.

For a buyer evaluating vendors this quarter, three practical consequences follow.

A four-year-old mark tells you nothing about current health. A company last priced in June 2021 has been through the entire repricing without publishing a number. That is not evidence of strength or weakness. It is an absence of evidence, and absence should not read as stability just because the figure on the market map is large.

Round type is not comparable across the list. Clay's $5.0B came from a January 2026 employee tender offer led by DST Global, its second tender in nine months, following a $100M Series C at a $3.1B valuation led by CapitalG. A tender lets employees sell existing shares. It is a real price with real buyers, and it is a different instrument from a primary priced round, which is different again from reported secondary talks like the Gong figure. Three different mechanisms, one column on the chart.

Undisclosed terms hide the direction. The Clari and Salesloft merger completed in December 2025 with terms undisclosed and Steve Cox as chief executive of the combined company. Two products you may already be paying for now sit inside one roadmap, at a combined value nobody outside the deal knows. That is a renewal-risk question, not a trivia question.

The pattern in the two extremes

Clay went from $1.5B to $5B in under nine months. ZoomInfo lost 74 percent of its value over the past year.

Those two companies are not competing on the same axis, which is the whole point. ZoomInfo sells access to records at enormous scale. Clay sells the workflow that combines records from many providers, including ZoomInfo, and turns them into an action. When the underlying records became commoditised across dozens of providers, the value moved one layer up. We have written the practical version of this comparison in Clay vs Apollo vs ZoomInfo and the buyer's version in best ZoomInfo alternatives.

The database stopped being the moat. The workflow became the moat.

What I am not claiming

I am not claiming ZoomInfo's data is worse than it was. By most accounts it is better. The repricing is not a verdict on data quality, it is a verdict on how much of a buyer's budget a data layer can command when six credible providers sell overlapping coverage and a workflow layer sits on top of all of them.

I am also not claiming Clay's $5B is a permanent number. It is a January 2026 tender price, and by the standard I applied to everyone else above it will be stale by mid-2027 unless another round prices it.

The purchasing rule that follows

If you are buying tools this quarter, stop paying for access to records. Pay for the layer that turns records into booked meetings.

Concretely, three questions to ask any vendor whose pitch is coverage:

1. What does this do that three other providers do not? If the answer is volume of records, you are buying a commodity and should be paying commodity prices.
2. What happens between the record and the reply? Enrichment, scoring, routing, and reply handling are where meetings come from. A vendor with no answer here is selling you an input and leaving the expensive part to you.
3. When was this company last priced, and by whom? Not because valuation predicts product quality, but because a vendor that has not raised since 2021 and does not disclose terms is a renewal risk worth pricing into a multi-year commitment.

For the wider picture, our GTM software valuation ranking and 2026 GTM tools market map cover the category, and old GTM vs new GTM covers what changed underneath these numbers. If you would rather buy the outcome than assemble the layer, that is what a demand generation agency does, and what lead generation actually costs is the comparison worth running against a stack of tool licences.

Valuation figures are as published on 29 July 2026 with the dates noted. Public marks move daily. Verify current figures before making a purchasing decision on them.

Frequently Asked Questions

Why did ZoomInfo change its ticker to GTM?

ZoomInfo announced in May 2025 that it would switch its Nasdaq symbol from ZI to GTM, positioning itself as the company that owns the go-to-market category. Fourteen months later, in late July 2026, the company traded at $967 million, down 96 percent from $25.9 billion at the end of 2021.

Are private GTM software valuations reliable?

Only with the date attached. Of nine private companies in this list, just four carry a price set within the last 18 months, and the rest quote 2021 to 2024 or nothing at all. Round type also varies: an employee tender offer, a primary priced round, and reported secondary talks are three different instruments shown in one column.

How much is Clay worth and when was that price set?

Clay was valued at $5.0 billion in January 2026 through an employee tender offer led by DST Global, its second tender in nine months, following a $100 million Series C at $3.1 billion led by CapitalG. That represents a move from $1.5 billion to $5 billion in under nine months.

What does the GTM software repricing mean for buyers?

Stop paying for access to records and pay for the layer that turns records into booked meetings. Contact data is now sold by many providers with overlapping coverage, which caps what a pure data layer can command. Ask any coverage-led vendor what happens between the record and the reply.

Did Clari and Salesloft disclose their merger terms?

No. The merger completed in December 2025 with terms undisclosed and Steve Cox appointed chief executive of the combined company. Their last standalone marks were $2.6 billion and $2.3 billion. For customers of either product, the undisclosed terms make this a renewal-risk question rather than a piece of market trivia.

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