Undisputed Subscription Economy Leader Reports Explosive Growth in 2013, Success in Helping Everyone from Global Enterprise Brands to IPO Darlings Accelerate Revenues with Subscriptions
Foster City, CA – April 1st, 2014
Zuora, the subscription commerce, billing and finance leader, today announced that Marc Diouane will join the company as Executive Vice President Global Field Operations, reporting directly to CEO and Founder Tien Tzuo. With over 20 years of leadership experience, Marc was head of International Sales and most recently served as Executive Vice President, Global Services & Partners at enterprise software giant PTC, where he played a pivotal role in transitioning the company from startup to true industry leader. He was instrumental in PTC’s expansion in Europe and Asia, overseeing all operations in these markets from sales and alliances to services and beyond.
Having created what is now a $500 billion market, Zuora now has $24 billion contracted under management working with everyone from global enterprises such as HP, TripAdvisor, Dell, News International, American Express, Intuit and TCS to some of the most disruptive companies on the planet including Box, Docusign and Zendesk to power their growing businesses. Today, scores of public enterprise companies already run their businesses on Zuora and some of the hottest growth companies in the world have chosen Zuora to scale their business as they prepare to go public this year. Marc will play a vital role in helping more companies - innovative startups to the world’s largest enterprises - quickly adopt new, innovative business models to transform industries and reach new markets.
Zuora Momentum Accelerates as Global Brands Embrace Subscriptions
As the market shifts to services and innovative delivery models, massive growth opportunities exist for global enterprises. Innovation in the enterprise is driven from changes in their business models as they shift from products and services to recurring revenue relationships. According to a 2013 Economist Intelligence Unit Survey, four out of every five (80%) businesses are currently seeing changes in the way customers prefer to access services, and as a result over half (51%) have integrated new pricing and delivery models – i.e. subscriptions, sharing and rental goods and services – each of which brings new challenges and complexities for enterprise companies. Large, monolithic ERP systems make it difficult for enterprises to swiftly and easily embrace alternative business models like subscriptions. As a result, enterprises seek out platforms that bolster their backend legacy ERP systems to enable continuous business model innovation centered on the recurring customer relationship.
Subscription Economy momentum is picking up across the globe, with large enterprises increasingly turning to alternative business models to drive innovation and gain a competitive edge against smaller, nimbler startups. This massive shift is evidenced by an unparalleled year of customer success and growth at Zuora, especially among multi-billion dollar global enterprises.
In the last year, Zuora’s achievements include:
More than doubled the growth of its enterprise customer base year over year;
Achieving over 25% of its business from outside the US;
Over 40% increase in employees outside of the US;
Expanding its invoice volume under contract to $24B;
And raised $50M bring total funding to $132.5M to further domination in the global Subscription Economy.
Zuora to Host the World’s Largest Conference for the Subscription Economy
Zuora will be hosting Subscribed 2014 their 4th annual conference for the Subscription Economy community, the only global conference series designed specifically for recurring revenue businesses. Attendees will walk away with innovative pricing strategies, the secrets of customer acquisition and retention, a new set of financial metrics to run a business, and tools to automate subscription operations. Responding to market demand, Zuora this year will launch an exclusive track for large enterprises that are transforming their businesses around new recurring revenue based models and are seeking new ways of innovating to stay ahead of market disruption. Events will be held in San Francisco (June 2nd - 4th), and London (September 24th). To register for Subscribed, visit www.subscribed.com.
“This is a critical time for the industry, as multi-billion dollar companies across the world use new, innovative business models for growth and disruption of established markets,” said Tien Tzuo, CEO & Founder, Zuora. “Marc brings incredible enterprise and global expertise, gives Zuora deeper enterprise bench strength and will help us grow to the next stage by capitalizing on tremendous momentum of more global businesses joining the Subscription Economy.”
“While on the road at PTC, I saw customers across the globe – from the US to Europe and Asia – make the shift from devices to services, and face complex challenges in doing so,” said Marc Diouane, Executive Vice President Global Field Operations, Zuora. “Having had a front-row seat at PTC in seeing companies of all sizes move to the Subscription Economy, I am thrilled to bring my expertise to Zuora to help grow the company into new markets and geographies at this vitally important next stage in its journey.”
Zuora’s 4th Annual global conference for the Subscription Economy community, Subscribed.com
About Zuora, Inc.
Zuora is the global leader in subscription commerce and billing, helping companies in every industry transition to the Subscription Economy. Enterprise leaders and high-growth companies alike use Zuora's multi-tenant cloud platform to launch, scale, and monetize their subscription services. Zuora's applications work where traditional ERP applications fail: Subscription pricing, quoting, orders, billing, payments, and renewals. Built from the ground up by SaaS industry veterans from salesforce.com, PayPal, and Netsuite, Zuora services innovative customers like Informatica, Tata Communications, Box, Xplornet, Ustream and Reed Business Information. To learn more about Zuora, please visit www.zuora.com.