initial public offerings (IPOs) trading on American exchanges

Saturday, March 17, 2018

Zuora to file for IPO early this year

It’s another exit for Benchmark Capital, the VC firm that owns 11 percent of the company.
The enterprise company Zuora on Friday said it had filed to go public, yet another IPO for a highly-valued tech company during a winter when companies apparently feel the markets are pretty friendly.
Zuora, which provides billing and other services to subscription software companies, is backed by some high-profile venture capital firms, most prominently Benchmark, which owns about 11 percent of the company, according to Zuora’s SEC filing.

Tien Tzuo, founder of Zuora, is taking the company public soon.
The company notched almost $180 million in the last fiscal year, the company said, and was valued at around $750 million during its last round of financing in 2015, according to PitchBook.
It’s the latest tech company to file in a rush of high-profile IPOs at the start of 2018. Shares of Dropbox are expected to begin trading next week, and Spotify shares will start on April 3.

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