Attributes 273 Percent Revenue Growth to its Leading Subscription Business Platform
Foster City, Calif. – November 16, 2016 – Zuora, Inc., the world’s leading provider of subscription billing, commerce, and finance solutions, today announced it was named one of Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Zuora grew 273 percent during this period, reaching 600 employees and 800 customers.
“The rapid adoption of subscriptions by companies spanning every industry in the world is creating a once-in-a-century shift in business models that are growing much faster than some of the world’s top economic indexes,”, said Tien Tzuo, CEO of Zuora. “Recognition by Deloitte is a reflection of the tremendous accomplishments of our customers’ success in the Subscription Economy.”
“Today, when every organization can be a tech company, the most effective businesses not only foster the courage to explore change, but also encourage creativity in using and applying existing assets in new ways, as resourcefully as possible,” said Sandra Shirai, principal, Deloitte Consulting LLP and U.S. technology, media and telecommunications industry leader. “This ingenious approach to innovation calls for the encouragement of curiosity and collaboration both within and outside the office walls.”
Zuora found that subscription businesses are growing revenues nine times faster than the S&P 500 according to the Subscription Economy® Index™ (SEI). Many within its more than 800 customer base are also ranked as Fast 500 companies including Box, Coupa Software, New Relic and Zendesk.
“This year’s Fast 500 winners showcase that when organizations are open to diverse perspectives and insights, they are able to create an environment for their employees and customers to see the possibilities and ingenious solutions that might lie ahead,” added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. “Entrepreneurial environments foster change and innovation within businesses, and we look forward to watching these companies continue to drive change across all sectors.”
“The Subscription Economy: A Business Transformation” by Tien Tzuo, CEO of Zuora
SlideShare: “Drivers of Success in the Subscription Economy”
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About Deloitte’s 2016 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
About Zuora, Inc.
Zuora’s Relationship Business Management (RBM)™ solution helps enable businesses in any industry to launch or shift products to subscription, implement new pay-as-you-go pricing and packaging models, gain new insights into subscriber behavior, open new revenue streams, and disrupt market segments to gain competitive advantage. Headquartered in Silicon Valley, Zuora also operates offices in Atlanta, Boston, Denver, San Francisco, London, Paris, Beijing, Sydney and Tokyo. Zuora clients come from a wide range of industries, including media, travel services, consumer packaged goods, cloud services, and telecommunications. Clients include Financial Times, Schneider Electric, Box, Honeywell, NCR, RTL, The Guardian, YP.com, BlueJeans, Shutterfly, TripAdvisor and Vivint.
© 2016 Zuora, Inc. All Rights Reserved. Zuora, Insights, Relationship Business Management (RBM), Subscription Economy and Subscription Economy Index are trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Zuora or any aspect of this press release. To learn more about Zuora, please visit www.zuora.com.