REDWOOD CITY, CA--(Marketwire -09/14/11)- Zuora, the commerce, billing and payments leader for the Subscription Economy, has been named to VentureWire's FASTech 50 list of the most innovative technology start-ups. Zuora was the sole subscription commerce company to be chosen.
Zuora was selected from a pool of hundreds of venture-backed companies by the editors of Dow Jones VentureWire and a board of leading venture capitalists.
The award underscores the momentum that Zuora is witnessing around the world with enterprises such as Tata Communications, Informatica, XploreNet Communications, Reed Business Information, Coremetrics, Ricoh, and some of the fastest growing emerging companies today such as Box.Net, Ning, Ooyala, and Ustream. The rapid growth of the Subscription Economy is the direct result of consumers and businesses shifting spending from one-time buying of products to subscribing to services. Gartner recently predicted that "by 2015, 35% of Global 2000 companies with non-media digital products will generate incremental revenue of 5% to 10% through subscription-based services and revenue models."(1)
Zuora recently held its inaugural Customer Day bringing together for the first-time, more than 500 customers, innovators and leaders in the Subscription Economy. The keynote presentation on the future of the Subscription Economy can be found at www.ustream.tv/zuora.
During Salesforce.com's Dreamforce '11 conference, Zuora was a Gold Sponsor and played a key role in evangelizing how trends like mobile, social and cloud are driving the shift to services and subscriptions. CEO Tien Tzuo also delivered the keynote for Salesforce.com's Media & Communications Day which included presentations by Open Range Communications and Tata Communications, both Zuora and Salesforce.com customers whom use the combined solution.
"Subscription commerce is the future in billion dollar industries that drive the global economy," said Zuora co-founder and CEO Tien Tzuo. "Subscription businesses using Zuora have figured out what it takes to succeed in the Subscription Economy."
The VentureWire FASTech 50 is an annual list of the most investment-worthy technology start-ups as selected by a board of leading venture capitalists and the editors of Dow Jones VentureWire. This year's theme was innovation. To be eligible for the list, a company must be based in the U.S., venture-backed and have launched a product within the last three years that breaks from conventional methods, introduces a novel technology or markedly advances an existing product or service.
To view the FASTech 50 list, visit http://fastech.dowjones.com/index.php/speakers#fastech50.
(1) "Building a Strategy for the Subscription Economy," Chris Fletcher, Gartner Inc., April 11, 2011.
About Zuora, Inc.
Zuora's subscription commerce and billing platform changes the way subscription businesses manage and sell to customers, allowing them to bring new products to market in less time, with more flexibility and less hassle. Zuora customers are up and running within 90 days and often recognize 200% ROI within weeks. Zuora is built from the ground up by SaaS industry visionaries and veterans from Salesforce.com, WebEx, Accenture, Google, eBay, Oracle and Vitria. Zuora customers include Reed Business Information, InsideView, Marketo, Ricoh, Box.net, Ning, Ustream, Informatica, Barrett Xplore and Open Range. To learn more about Zuora, please visit www.zuora.com.
About Dow Jones FASTech
Dow Jones VentureWire FASTech, November 8-9 in Redwood City, Calif., will assess the dynamics driving innovation and success in the technology industry through exclusive interviews, analysis driven by Dow Jones editors and presentations from the most investment-worthy start-ups pre-screened by leading venture capitalists. To register, visit http://fastech.dowjones.com/.
Reidy Communications for Zuora