Zuora an enterprise subscription services provider goes public

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Zuora, an American software company which provides subscription based applications for companies has today announced that “It has filed for an IPO at New York Stock Exchange.”

Zuora is a software company which design and offer SaaS applications for companies with a subscription business model including the products like automate billing, commerce and finance operations.

In its press release, Zuora said that “It is planning to list  Class A common stock on the New York Stock Exchange under the ticker symbol “ZUO”. The company did not mention about the number of shares they are going to issue and at what price, but according to the media reports “It may raise up to $100 million through the filling.

According to the Silicon Valley Business Journal  reports “In 2015, Zuora raised $115 million, and was valued nearly to $740 million by PitchBook data“.

Currently, Benchmark Capital and Shasta Ventures are two big investors in the company, with Benchmark still owning around 11.1% of the company and Shasta Ventures owning 6.5%. CEO Tien Tzuo owns 10.2% of the company.

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