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Zuora

December 01, 2023

Zuora is an American enterprise software company headquartered in Redwood City, California that creates and provides software for businesses to launch and manage their subscription-based services. Zuora's applications are designed to automate recurring billing, collections, quoting, revenue recognition, and subscription metrics.[2][3][4] Tien Tzuo, a co-founder of the company, has served as its CEO since 2007.[3][5]

Zuora, Inc.
TypePublic
IndustryEnterprise software
Founded2007; 16 years ago (2007)
Founders
HeadquartersRedwood City, California, U.S.
Key people
Tien Tzuo (CEO)
Todd McElhatton (CFO)
Revenue US$396 million (2023)
US$−187 million (2023)
US$−198 million (2023)
Total assets US$669 million (2023)
Total equity US$97.2 million (2023)
Number of employees
1,549 (2023)
Websitezuora.com
Footnotes / references
Financials as of January 31, 2023[1]

History edit

Launch and IPO edit

In 2007, K.V. Rao and Cheng Zou (engineers at WebEx) and Tien Tzuo (an early executive at Salesforce) founded Zuora.[6][7] The name of the company derives from a combination of their three surnames. The concept behind the company was a cloud-based billings platform to alleviate the need for online businesses to develop their own billing systems.[7]

On 16 March 2018, the company filed for an initial public offering.[6][8] On 12 April 2018, Zuora listed in NYSE under the ticker symbol ZUO.[9][10] The company generated $154 million in the offering,[3] and entered the market as a public company at a $1.4 billion valuation.[11] By the end of April 2018, the company was valued at over $2 billion.[12]

In 2016, Zuora launched the Subscription Economy Index, which tracks revenue growth of subscription businesses, comparing the growth to sales benchmarks. The index is based on data from hundreds of businesses on Zuora's platform. The index is updated twice a year.[13][14][15]

Zuora hosts a conference series called Subscribed, covering topics related to the subscription economy and taking place in various cities each year.[16][17][4] The Subscribed Institute, a think tank for subscription-based companies, was founded by Amy Konary[18] and launched in 2018.[19]

In 2019, Zuora hired former LogMeIn executive Chris Battles as its chief product officer,[20] and former Adobe executive Robbie Traube as chief revenue officer.[21] In June 2020, Zuora hired Todd McElhatton, formerly of SAP, as its new chief financial officer.[22]

Zuora won the 2017 CODiE Award for Best Subscription Management Solution,[23][24] and the 2020 CODiE Award for Best Subscription Billing Solution.[25] Zuora received a 2020 Bronze Stevie Award for Customer Service.[26]

Acquisitions and partnerships edit

On 20 May 2015, Zuora acquired Frontleaf and launched Z-Insights, combining information from its subscriber invoicing and billing platform with customer usage information.[27] In 2017, Zuora purchased Leeyo Software, a revenue recognition platform.[28][29]

Zuora partners with companies including Deloitte, Accenture, and PwC.[30] In 2020, Zuora announced an expanded integration with GoCardless, to help companies in North America, Europe, the UK, Australia, and New Zealand to process recurring payments faster and reduce payment-related costs.[31]

In August 2022, Zuora reached an agreement to acquire Zephr, a subscription experience platform, for $44 million in cash.[32] [33]

Funding edit

On 17 December 2007, Zuora announced it had raised $6 million in Series A funding.[34] Zuora announced $15 million in Series B funding on 15 September 2008;[35] $20 million in Series C funding in October 2010;[7] $36 million in Series D funding on 4 November 2011;[36] $50 million in Series E funding on 5 September 2013;[37] and $115 million in Series F funding on 11 March 2015,[38] bringing its total funding to $250 million.[39] Investors include Benchmark Capital, Greylock Partners, Redpoint Ventures, Index Ventures, Shasta Ventures, Vulcan Capital, and Next World Capital.[39] Private investors include founder and CEO of Salesforce Marc Benioff[40] and former PeopleSoft vice-chair and founder and co-CEO of Workday, Dave Duffield.[39]

Products edit

Zuora sells a subscription management SaaS platform for businesses utilizing a subscription-service model.[41] The Zuora Central platform lets companies keep track of subscription payments, billing, collections, pricing, product catalogs, and accounting.[6][39][42] In addition to Zuora Central, Zuora's four primary SaaS applications are Zuora Billing, for recurring billing operations; Zuora Revenue, for revenue recognition; Zuora CPQ, sales quoting for subscription businesses; and Zuora Collect, for payment collections.[43] Zuora's app marketplace, Zuora Connect, allows partners to develop and list apps built on the Zuora Central platform.[44] In May 2020, a new version of the Zuora Central platform was released, with pre-built workflows, a new data query feature enabling faster access to live distributed data, an audit trail feature, and a new Zuora Central Sandbox tool to test and deploy new features.[45]

On 5 June 2018, Zuora announced Subscription Order Management, designed to help customers process renewals and more complex deals. It addresses the shift from subscription growth related to acquiring new customers to growth from existing customers.[46] In June 2019, at its Subscribed San Francisco conference, the company announced the Zuora Central Developer Platform, allowing developers to integrate Zuora's services with external services.[47] It was introduced in early 2020.[48][49] In 2020, the company launched Zuora Analytics, enabling customers to measure and analyze their subscription businesses.[50]

In 2021, Real-Time Revenue was released, allowing businesses to automate the process of reconciling and analyzing their revenue and more accurately close their books.[51]

References edit

  1. ^ "Zuora Inc. fiscal 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 3 April 2023.
  2. ^ Taulli, Tom. "Zuora Raises $36 Million to Invade Europe". Forbes. Retrieved 15 December 2011.
  3. ^ a b c Farrell, Maureen (12 April 2018). "Tech IPO Market Shows Signs of Warming". The Wall Street Journal.
  4. ^ a b Hagan, Shelly (12 October 2018). "Zuora CEO Lauds Lack of Innovation From Rivals Oracle, SAP". Bloomberg.com.
  5. ^ Dilakian, Steven (17 May 2022). "Co-Founder Of Zuora Asks $10M For Alleyway "Oasis"". The Real Deal San Francisco. Retrieved 6 December 2022.
  6. ^ a b c Peterson, Becky (16 March 2018). "The $738 million 'subscription economy' company Zuora files to go public". Business Insider. Retrieved 2 April 2018.
  7. ^ a b c Rao, Leena. "Zuora's Journey To Managing The Subscription Economy". TechCrunch. Retrieved 9 November 2018.
  8. ^ Novet, Jordan (11 April 2018). "Zuora prices IPO at $14 per share — valuing the company at $1.44 billion". CNBC.
  9. ^ Salinas, Sara. "Zuora jumps nearly 43% on first day of trading". CNBC.
  10. ^ Nicas, Jack (15 April 2018). "Silicon Valley Venture Capitalists Prepare for an I.P.O. Wave". The New York Times.
  11. ^ Bort, Julie (12 April 2018). "Zuora soars in its IPO, and the founder's stake is worth nearly $200 million — 5 years after the company hit rocky times". Business Insider.
  12. ^ Lin, Serena (30 April 2018). "CEO of billion-dollar Zuora reveals a key management lesson he learned the hard way". CNBC.
  13. ^ Feldman, Amy (15 November 2016). "New Subscription Economy Index Shows Subscription Businesses Growing 9X Faster Than S&P 500 Ones". Forbes.
  14. ^ Preimesberger, Chris (17 November 2017). "Zuora Research Shows Major Growth in 'Subscription Economy'". eWeek.
  15. ^ Richter, Georg (9 February 2018). "Think Tank: Why Established Retailers Will Continue Adopting Subscription Models". Women's Wear Daily.
  16. ^ Ray, Tiernan (1 June 2018). "Zuora Soars: CEO Tzuo on the 'Subscription Economy'". Barron's.
  17. ^ Grant, Nico (5 June 2018). "Tech Company Gives Conference Guests Stock as a Party Favor". Bloomberg.com.
  18. ^ Kroll, Karen (4 September 2020). "Shaking Up Subscription Services". inboundlogistics.com. Retrieved 7 October 2020.
  19. ^ "Life online: Subscribe to everything, own nothing". engadget.com. 17 August 2020. Retrieved 7 October 2020.
  20. ^ "On the move: Zuora". smdailyjournal.com. 26 August 2019. Retrieved 7 October 2020.
  21. ^ "Zuora Bets Big on Subscriptions, but the Stock Is Lagging". Barron's. 30 October 2019. Retrieved 7 October 2020.
  22. ^ "SAP Cloud CFO Departs for Zuora in Latest Executive Exit". Bloomberg. 27 May 2020. Retrieved 7 October 2020.
  23. ^ "2017 Winners". siia.net. Retrieved 7 October 2020.
  24. ^ "Past CODiE Winners". history.siia.net. Retrieved 14 June 2023.
  25. ^ "Past CODiE Winners". history.siia.net. Retrieved 5 October 2022.
  26. ^ "Customer Service Award Winners". stevieawards.com. Retrieved 7 October 2020.
  27. ^ Clancy, Heather (26 May 2015). "Zuora analytics acquisition promises deeper insights for 'subscription economy'". Fortune.
  28. ^ Pozin, Ilya (28 January 2018). "20 of Marc Benioff's Best Startup Investments". Inc.
  29. ^ Miller, Ron. "Zuora to acquire Leeyo to help customers cope with upcoming accounting rules changes". TechCrunch. Retrieved 9 November 2018.
  30. ^ "Partners". Zuora.com. Retrieved 7 October 2020.
  31. ^ "Zuora and GoCardless Expand Partnership to Revolutionize Global Subscription Payments". ffnews.com. 25 August 2020. Retrieved 17 October 2022.
  32. ^ "California-based Zuora acquires UK's subscription platform Zephr for $44M — TFN". Tech Funding News. 26 August 2022. Retrieved 26 August 2022.
  33. ^ ago, Mark Stenberg2 days. "Subscription Platform Zuora to Acquire Zephr in $44 Million Purchase". Retrieved 26 August 2022.{{cite web}}: CS1 maint: numeric names: authors list (link)
  34. ^ Olsen, Stefanie (13 March 2008). "Benchmark, Benioff invest $6.5 million in Zuora". CNET. Retrieved 23 March 2012.
  35. ^ Gage, Deborah (28 October 2008). "Zuora gets additional $15 million in VC cash". San Francisco Chronicle.
  36. ^ Sibley, Lisa (16 November 2011). "Zuora raises $36M from Silicon Valley backers". Business Journal. Retrieved 23 March 2012.
  37. ^ Zax, David (10 January 2014). "The Subscription Economy's Secret Weapon". Fast Company.
  38. ^ Kepes, Ben. "Zuora Raises $115M - Subscriptions To The World (And The Public Markets)". Forbes. Retrieved 11 March 2015.
  39. ^ a b c d Gage, Deborah (11 March 2015). "Zuora Raises $115 Million to Fuel Subscription Economy". The Wall Street Journal.
  40. ^ Hendrickson, Mark (20 May 2008). "Comment inShare Zuora Aims To Be Salesforce for Online Billing; Benioff Agrees". TechCrunch. Retrieved 23 March 2012.
  41. ^ Ray, Tiernan (15 March 2021). "Zuora (ZUO) Q4 Earnings Beat, Subscription Revenues Up Y/Y". Yahoo Finance.
  42. ^ Chartier, David (3 March 2009). "Zuora brings subscription payment lifeline for Facebook apps". Ars Technica. Retrieved 23 March 2012.
  43. ^ "Company Overview of Zuora, Inc". Bloomberg. Retrieved 9 November 2018.
  44. ^ Preimesberger, Chris (15 March 2017). "Zuora Adds 30 More Applications to Cloud Business Suite". eWeek.
  45. ^ "Zuora's latest platform release aimed at simplifying business workflows". siliconangle.com. 27 May 2020. Retrieved 7 October 2020.
  46. ^ Miller, Ron. "Zuora Orders aims to drive subscription renewals and expansion". TechCrunch. Retrieved 9 November 2018.
  47. ^ "Zuora Central lets developers build connected workflows across services". Techcrunch. 4 June 2019. Retrieved 7 October 2020.
  48. ^ "Zuora Launches Updated Central Platform for Subscription Businesses". www.destinationcrm.com. Retrieved 6 December 2022.
  49. ^ "Zuora Subscribed London - confessions of a Subscription Economy virgin". Diginomica. 14 October 2019. Retrieved 7 October 2020.
  50. ^ "New Zuora Analytics and Zuora Billing Drive Agile Subscription Experiences". globalfintechseries.com. Retrieved 7 October 2020.
  51. ^ "Zuora introduces Real-Time Revenue feature to make the financial closing process easier". www.kmworld.com. Retrieved 6 December 2022.

External links edit

  • Official website
  • Business data for Zuora, Inc.:
    • Bloomberg
    • Google
    • Reuters
    • SEC filings
    • Yahoo!

December 01, 2023
zuora, american, enterprise, software, company, headquartered, redwood, city, california, that, creates, provides, software, businesses, launch, manage, their, subscription, based, services, applications, designed, automate, recurring, billing, collections, qu. Zuora is an American enterprise software company headquartered in Redwood City California that creates and provides software for businesses to launch and manage their subscription based services Zuora s applications are designed to automate recurring billing collections quoting revenue recognition and subscription metrics 2 3 4 Tien Tzuo a co founder of the company has served as its CEO since 2007 3 5 Zuora Inc TypePublicTraded asNYSE ZUO Class A Russell 2000 componentIndustryEnterprise softwareFounded2007 16 years ago 2007 FoundersK V RaoCheng ZouTien TzuoHeadquartersRedwood City California U S Key peopleTien Tzuo CEO Todd McElhatton CFO RevenueUS 396 million 2023 Operating incomeUS 187 million 2023 Net incomeUS 198 million 2023 Total assetsUS 669 million 2023 Total equityUS 97 2 million 2023 Number of employees1 549 2023 Websitezuora wbr comFootnotes referencesFinancials as of January 31 2023 update 1 Contents 1 History 1 1 Launch and IPO 1 2 Acquisitions and partnerships 1 3 Funding 2 Products 3 References 4 External linksHistory editLaunch and IPO edit In 2007 K V Rao and Cheng Zou engineers at WebEx and Tien Tzuo an early executive at Salesforce founded Zuora 6 7 The name of the company derives from a combination of their three surnames The concept behind the company was a cloud based billings platform to alleviate the need for online businesses to develop their own billing systems 7 On 16 March 2018 the company filed for an initial public offering 6 8 On 12 April 2018 Zuora listed in NYSE under the ticker symbol ZUO 9 10 The company generated 154 million in the offering 3 and entered the market as a public company at a 1 4 billion valuation 11 By the end of April 2018 the company was valued at over 2 billion 12 In 2016 Zuora launched the Subscription Economy Index which tracks revenue growth of subscription businesses comparing the growth to sales benchmarks The index is based on data from hundreds of businesses on Zuora s platform The index is updated twice a year 13 14 15 Zuora hosts a conference series called Subscribed covering topics related to the subscription economy and taking place in various cities each year 16 17 4 The Subscribed Institute a think tank for subscription based companies was founded by Amy Konary 18 and launched in 2018 19 In 2019 Zuora hired former LogMeIn executive Chris Battles as its chief product officer 20 and former Adobe executive Robbie Traube as chief revenue officer 21 In June 2020 Zuora hired Todd McElhatton formerly of SAP as its new chief financial officer 22 Zuora won the 2017 CODiE Award for Best Subscription Management Solution 23 24 and the 2020 CODiE Award for Best Subscription Billing Solution 25 Zuora received a 2020 Bronze Stevie Award for Customer Service 26 Acquisitions and partnerships edit On 20 May 2015 Zuora acquired Frontleaf and launched Z Insights combining information from its subscriber invoicing and billing platform with customer usage information 27 In 2017 Zuora purchased Leeyo Software a revenue recognition platform 28 29 Zuora partners with companies including Deloitte Accenture and PwC 30 In 2020 Zuora announced an expanded integration with GoCardless to help companies in North America Europe the UK Australia and New Zealand to process recurring payments faster and reduce payment related costs 31 In August 2022 Zuora reached an agreement to acquire Zephr a subscription experience platform for 44 million in cash 32 33 Funding edit On 17 December 2007 Zuora announced it had raised 6 million in Series A funding 34 Zuora announced 15 million in Series B funding on 15 September 2008 35 20 million in Series C funding in October 2010 7 36 million in Series D funding on 4 November 2011 36 50 million in Series E funding on 5 September 2013 37 and 115 million in Series F funding on 11 March 2015 38 bringing its total funding to 250 million 39 Investors include Benchmark Capital Greylock Partners Redpoint Ventures Index Ventures Shasta Ventures Vulcan Capital and Next World Capital 39 Private investors include founder and CEO of Salesforce Marc Benioff 40 and former PeopleSoft vice chair and founder and co CEO of Workday Dave Duffield 39 Products editZuora sells a subscription management SaaS platform for businesses utilizing a subscription service model 41 The Zuora Central platform lets companies keep track of subscription payments billing collections pricing product catalogs and accounting 6 39 42 In addition to Zuora Central Zuora s four primary SaaS applications are Zuora Billing for recurring billing operations Zuora Revenue for revenue recognition Zuora CPQ sales quoting for subscription businesses and Zuora Collect for payment collections 43 Zuora s app marketplace Zuora Connect allows partners to develop and list apps built on the Zuora Central platform 44 In May 2020 a new version of the Zuora Central platform was released with pre built workflows a new data query feature enabling faster access to live distributed data an audit trail feature and a new Zuora Central Sandbox tool to test and deploy new features 45 On 5 June 2018 Zuora announced Subscription Order Management designed to help customers process renewals and more complex deals It addresses the shift from subscription growth related to acquiring new customers to growth from existing customers 46 In June 2019 at its Subscribed San Francisco conference the company announced the Zuora Central Developer Platform allowing developers to integrate Zuora s services with external services 47 It was introduced in early 2020 48 49 In 2020 the company launched Zuora Analytics enabling customers to measure and analyze their subscription businesses 50 In 2021 Real Time Revenue was released allowing businesses to automate the process of reconciling and analyzing their revenue and more accurately close their books 51 References edit Zuora Inc fiscal 2023 Annual Report Form 10 K U S Securities and Exchange Commission 3 April 2023 Taulli Tom Zuora Raises 36 Million to Invade Europe Forbes Retrieved 15 December 2011 a b c Farrell Maureen 12 April 2018 Tech IPO Market Shows Signs of Warming The Wall Street Journal a b Hagan Shelly 12 October 2018 Zuora CEO Lauds Lack of Innovation From Rivals Oracle SAP Bloomberg com Dilakian Steven 17 May 2022 Co Founder Of Zuora Asks 10M For Alleyway Oasis The Real Deal San Francisco Retrieved 6 December 2022 a b c Peterson Becky 16 March 2018 The 738 million subscription economy company Zuora files to go public Business Insider Retrieved 2 April 2018 a b c Rao Leena Zuora s Journey To Managing The Subscription Economy TechCrunch Retrieved 9 November 2018 Novet Jordan 11 April 2018 Zuora prices IPO at 14 per share valuing the company at 1 44 billion CNBC Salinas Sara Zuora jumps nearly 43 on first day of trading CNBC Nicas Jack 15 April 2018 Silicon Valley Venture Capitalists Prepare for an I P O Wave The New York Times Bort Julie 12 April 2018 Zuora soars in its IPO and the founder s stake is worth nearly 200 million 5 years after the company hit rocky times Business Insider Lin Serena 30 April 2018 CEO of billion dollar Zuora reveals a key management lesson he learned the hard way CNBC Feldman Amy 15 November 2016 New Subscription Economy Index Shows Subscription Businesses Growing 9X Faster Than S amp P 500 Ones Forbes Preimesberger Chris 17 November 2017 Zuora Research Shows Major Growth in Subscription Economy eWeek Richter Georg 9 February 2018 Think Tank Why Established Retailers Will Continue Adopting Subscription Models Women s Wear Daily Ray Tiernan 1 June 2018 Zuora Soars CEO Tzuo on the Subscription Economy Barron s Grant Nico 5 June 2018 Tech Company Gives Conference Guests Stock as a Party Favor Bloomberg com Kroll Karen 4 September 2020 Shaking Up Subscription Services inboundlogistics com Retrieved 7 October 2020 Life online Subscribe to everything own nothing engadget com 17 August 2020 Retrieved 7 October 2020 On the move Zuora smdailyjournal com 26 August 2019 Retrieved 7 October 2020 Zuora Bets Big on Subscriptions but the Stock Is Lagging Barron s 30 October 2019 Retrieved 7 October 2020 SAP Cloud CFO Departs for Zuora in Latest Executive Exit Bloomberg 27 May 2020 Retrieved 7 October 2020 2017 Winners siia net Retrieved 7 October 2020 Past CODiE Winners history siia net Retrieved 14 June 2023 Past CODiE Winners history siia net Retrieved 5 October 2022 Customer Service Award Winners stevieawards com Retrieved 7 October 2020 Clancy Heather 26 May 2015 Zuora analytics acquisition promises deeper insights for subscription economy Fortune Pozin Ilya 28 January 2018 20 of Marc Benioff s Best Startup Investments Inc Miller Ron Zuora to acquire Leeyo to help customers cope with upcoming accounting rules changes TechCrunch Retrieved 9 November 2018 Partners Zuora com Retrieved 7 October 2020 Zuora and GoCardless Expand Partnership to Revolutionize Global Subscription Payments ffnews com 25 August 2020 Retrieved 17 October 2022 California based Zuora acquires UK s subscription platform Zephr for 44M TFN Tech Funding News 26 August 2022 Retrieved 26 August 2022 ago Mark Stenberg2 days Subscription Platform Zuora to Acquire Zephr in 44 Million Purchase Retrieved 26 August 2022 a href Template Cite web html title Template Cite web cite web a CS1 maint numeric names authors list link Olsen Stefanie 13 March 2008 Benchmark Benioff invest 6 5 million in Zuora CNET Retrieved 23 March 2012 Gage Deborah 28 October 2008 Zuora gets additional 15 million in VC cash San Francisco Chronicle Sibley Lisa 16 November 2011 Zuora raises 36M from Silicon Valley backers Business Journal Retrieved 23 March 2012 Zax David 10 January 2014 The Subscription Economy s Secret Weapon Fast Company Kepes Ben Zuora Raises 115M Subscriptions To The World And The Public Markets Forbes Retrieved 11 March 2015 a b c d Gage Deborah 11 March 2015 Zuora Raises 115 Million to Fuel Subscription Economy The Wall Street Journal Hendrickson Mark 20 May 2008 Comment inShare Zuora Aims To Be Salesforce for Online Billing Benioff Agrees TechCrunch Retrieved 23 March 2012 Ray Tiernan 15 March 2021 Zuora ZUO Q4 Earnings Beat Subscription Revenues Up Y Y Yahoo Finance Chartier David 3 March 2009 Zuora brings subscription payment lifeline for Facebook apps Ars Technica Retrieved 23 March 2012 Company Overview of Zuora Inc Bloomberg Retrieved 9 November 2018 Preimesberger Chris 15 March 2017 Zuora Adds 30 More Applications to Cloud Business Suite eWeek Zuora s latest platform release aimed at simplifying business workflows siliconangle com 27 May 2020 Retrieved 7 October 2020 Miller Ron Zuora Orders aims to drive subscription renewals and expansion TechCrunch Retrieved 9 November 2018 Zuora Central lets developers build connected workflows across services Techcrunch 4 June 2019 Retrieved 7 October 2020 Zuora Launches Updated Central Platform for Subscription Businesses www destinationcrm com Retrieved 6 December 2022 Zuora Subscribed London confessions of a Subscription Economy virgin Diginomica 14 October 2019 Retrieved 7 October 2020 New Zuora Analytics and Zuora Billing Drive Agile Subscription Experiences globalfintechseries com Retrieved 7 October 2020 Zuora introduces Real Time Revenue feature to make the financial closing process easier www kmworld com Retrieved 6 December 2022 External links editOfficial website Business data for Zuora Inc BloombergGoogleReutersSEC filingsYahoo Retrieved from https en wikipedia org w index php title Zuora amp oldid 1163698283, wikipedia, wiki, book, books, library,

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