A Raise May Be Out of the Question, but You Do Have Other OptionsAct Now

Zuora CEO  Tien Tzuo. Photo by Zuora.

Benchmark-Backed Zuora Eyes IPO in 2018

By  |  Oct. 17, 2017 2:34 PM PDT
Photo: Zuora CEO Tien Tzuo. Photo by Zuora.

Zuora, which makes billing and forecasting software for subscription software firms, is in talks to hire underwriters for an initial public offering next year, co-founder and CEO Tien Tzuo said in an interview. The move is in the latest sign that 2018 is likely to be a busier year for tech IPOs than 2017.

“We have passed the magic threshold of $100 million in revenue in the last four quarters, and we are hoping to go public in 2018,” Mr. Tzuo told The Information in an exclusive interview at Zuora headquarters in San Francisco. He declined to comment on the company’s valuation, which two years ago reportedly was over $1 billion. Benchmark Capital, best known for its large Uber stake, is the company’s biggest shareholder after an overall early investment of $15.8 million. 

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Exclusive asia
Chinese Investment Giant Hillhouse Capital Seeks to Expand Outside China
Zhang Lei, chairman of Hillhouse Capital Management Ltd. Photo via Bloomberg
Hillhouse Capital Group, the Chinese sprawling investment powerhouse that has drawn comparisons to Tiger Global Management, has a new challenge: growing outside China. The firm is best known for investments in Chinese tech giants such as Tencent, JD.com, Didi Global and TikTok owner ByteDance. But the devastation of China’s private equity and venture capital sectors, caused by...
Latest Briefs
 
Early Stage Startups Are Light on Cash
EU Ruling Could Limit Meta’s Ad Targeting Ability
Musk’s Neuralink Under Federal Investigation Over Animal Testing
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
startups venture capital
Six Investors Chasing Debt Deals During the Downturn
With equity investors dialing back and public markets frozen over, startups that need to raise money are short of options.
The 1:1 policy
A Billionaire Couple Goes for Broke: How John and Laura Arnold Plan to Give It All Away
On Election Day, John and Laura Arnold found themselves deep in the lion’s den: a few blocks from the White House, working from the new Washington D.C.
Photo by Bloomberg.
Exclusive
Marc Lore’s Kitchen on Wheels Startup Cuts Staff, Dials Back Delivery Ambitions
Wonder, a mobile kitchen and food-delivery startup led by Jet.com founder Marc Lore, has laid off 7% of its workforce, a company spokesperson said, as it attempts to overhaul its business.
Animation by Clark Miller
The Big Read
The Passion of Cathie Wood: Why the ‘Wackiest Portfolio Manager on Earth’ Isn’t Losing Faith
Cathie Wood was sitting in a phone booth in the New York office of Ark Invest when she heard Tasha Keeney, one of the firm’s analysts, let out a scream—“a happy scream,” Wood recalled.
Chart by Mike Sullivan.
Data Point electric vehicles
Electric Vehicle Startups Face Cash Crunch
Startup makers of electric vehicles were one of the biggest beneficiaries of the SPAC party of 2020–21—and that fete is now well and truly in the hangover phase.
Art by Mike Sullivan
startups crypto
2023 M&A Preview: Deals Could Be On Tap for Disney, Zoom Video, Vice Media
With just a month left on the calendar, 2022 could wind up being the worst year for U.S. mergers and acquisitions since 2017.