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TMCNet:  Zuora Names Finance Head at Leading Mobile Payments Provider as CFO

[September 13, 2010]

Zuora Names Finance Head at Leading Mobile Payments Provider as CFO

REDWOOD CITY, CA, Sep 13, 2010 (MARKETWIRE via COMTEX) -- Zuora, the subscription billing leader, today announced that Tyler Sloat has joined Zuora as Chief Financial Officer. Sloat brings strong financial experience in securing capital and growing market leaders in both mobile payments and storage and cloud computing, including raising over $100 million for Obopay.
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Sloat joins on the heels of two other key executives joining the company last month, further illustrating Zuora's aggressive efforts to deliver on the growing opportunities of the Subscription Economy.

In August, Zuora named Luke Braud, former Senior Vice President of Products and Engineering for NetSuite as Vice President of Products and Engineering. The company also named seasoned marketer Andrew Harman as Chief Marketing Officer.

"In the rapidly growing subscription market the consumers of these services are demanding flexible models designed to meet the way they use services. Whether a SaaS, Cloud, Media, Consumer Services or Telco player, a company's billing capabilities will define the product catalog they will be able to offer to the market. As companies shift more of their revenue to these service models, recurring billing and payments are becoming increasingly strategic, changing the face of the CFO role," said Sloat. "Just as Zuora has developed the best practices in recurring and subscription billing, part of my role will be communicating to other CFOs how to make the shift to the Subscription Economy. I'm thrilled to join the company at such a key time in the company's growth and look forward to working with the other members of this Dream Team of executives to bring Zuora to the next level." In other recent appointments, Zuora named former IBM and Interwoven executive Steven Martello as VP of Services in May. Earlier, Zuora hired Elizabeth Tse, former VP of Global Billing, Payments & Collections at eBay, as VP of Customer Operations. Additionally, Shawn Price, former CEO of Savvion and EVP at Vitria, was named Zuora's President.

"Zuora has quickly become the leader in the subscription billing industry, and the market only continues to grow in size and scope as more companies launch subscription offerings," said Tien Tzuo, CEO and Chairman at Zuora. "Tyler is key to our growth plans because he has vast financial expertise, the right industry knowledge and a passion to help us deliver on the market opportunity." Sloat's career spans executive and leadership roles in finance and operations for payment software and hardware technology companies, varying in size from early stage to Fortune 500 companies. Prior to Zuora, Sloat was the Chief Financial Officer for Obopay, the global leader in mobile payments where he was responsible for all finance, accounting, treasury operations and business intelligence functions.

Sloat was integral in raising well over $100M in investment and strategic capital, forming global commercial relationships with the likes of Nokia, MasterCard and Societe Generale, and deploying Obopay's mobile payment service in four countries spanning three continents.

Before Obopay, Sloat was the Controller of the Emerging Products Group at Network Appliance, Inc., a position he was promoted to after the successful acquisition of Decru by Network Appliance. As Controller of Decru, Sloat reported to the CEO and owned all finance, sales operations and product operations functions. Earlier in his career, Tyler was Controller for POET Software Corporation, playing a key role in their IPO. After POET, Sloat was head of finance for the on-demand business unit of Siebel Systems. Sloat started his career with the Computer Assurance Services division of Coopers & Lybrand, later transferring to audit.

Tyler is a registered C.P.A. in the State of California, has an M.B.A. from the Stanford Graduate School of Business and has a B.A.

from Boston College.

About Zuora, Inc.

Zuora's subscription billing and commerce 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, Coremetrics, InsideView, Marketo, Ricoh, Box.net, Xactly, Cloud Central and EMC.

To learn more about Zuora, please visit www.zuora.com.

Media Contacts Bronwyn Saglimbeni Reidy Communications for Zuora 408-414-7250 Email Contact SOURCE: Zuora http://www2.marketwire.com/mw/emailprcntct?id=8343BED494194936

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