ServiceNow denied any interest in buying Decagon. Its shares rose 5% on Thursday.
Decagon is a startup that builds AI agents for customer service.
Business Insider reported that it hired an investment bank and held early sale talks with ServiceNow and other companies.
ServiceNow's president, Amit Zavery, answered in a statement: "To be clear, ServiceNow has no interest or intention of purchasing Decagon." He said the company does not see "major strategic gaps that require large-scale acquisitions."
ServiceNow stock rose 5% to $146.93 after the denial, 24/7 Wall St. reported on Thursday. Salesforce shares gained 4% the same day.
Decagon was valued at $4.5 billion in January, when it raised $250 million. By August it was earning revenue at a rate of $100 million a year, PYMNTS reported. Decagon did not immediately respond to PYMNTS.
Decagon's January valuation was 45 times the yearly revenue rate it reported in August. ServiceNow already sells its own AI tools for customer service.
Sources
Our file on ServiceNow
- 20 Oct
Salesforce said at least 20,000 workers changed roles. It cited an AI redesign.
- 17 Oct
ServiceNow showed its AI agent passport blocking a $40 refund. The limit was $25.
- 8 Oct
SAP agreed to buy HR startup TechWolf. Rivals Workday and ServiceNow had backed it.
- 28 Sept
ServiceNow's HR AI agent could edit salaries. Its own testers talked it into it.
- 20 Sept
ServiceNow found 75% of CIOs cannot see every AI tool they run.
For your next steering committee
- 1Ask which AI tools already touch your ERP or finance data, including the ones nobody approved.
- 2Ask what each tool is allowed to change, and who reviews what it changed.
- 3Ask how the result is measured, and who decides to switch a tool off.
Issue 01 of the ERP LEADERS brief puts a timeline, the three-number review and six questions on one page. Read issue 01
Welcome back. · Issue 01
