06.01.2017 Press Release
Magdalena Yesil, first investor of Salesforce, joins the Zuora board of directors
Founder of Broadway Angels and Founding Member of Salesforce Board to Guide Zuora’s Enterprise Software Growth
San Mateo, Calif. – June 1, 2017 – Zuora, Inc., the world’s leading provider of subscription billing, commerce, and finance solutions, today announced that Magdalena Yesil, founder of Broadway Angels and the founding board member and first investor in Salesforce, has joined the Zuora® board of directors. Her appointment follows that of Ken Goldman, chief financial officer at Yahoo, who joined Zuora’s board of directors as an independent director in March to provide guidance for the company’s sustained growth.
“Magdalena is a force to be reckoned with in the Silicon Valley, and I am thrilled to have her on the Zuora board of directors as a strategic partner as we build the future of the company,” said Zuora CEO Tien Tzuo. “Magdalena has been a champion of the Subscription Economy® since the dawn of Salesforce, and her experience guiding it from a fast-growing startup into the bellwether enterprise leader it is today will be instrumental to our long-term success.”
Yesil has been active in Silicon Valley for three decades. Most recently, she spent eight years as a general partner at the venture capital firm US Venture Partners (USVP), making investments in a broad spectrum of technology startups. She has been an early investor in over 30 companies, many of which were successfully acquired or had successful IPOs. Prior to her investing career, Yesil was a serial entrepreneur, founding two successful electronic commerce companies, CyberCash, a pioneer in the secure electronic payment systems space that debuted as a publicly traded company in 1996, and MarketPay, the world’s leading compensation management and benchmarking software.
Yesil was a pioneer in the commercialization of the Internet in its early days, helping it move out of the government and university domains, and in establishing the infrastructure for e-commerce and financial transaction platforms. When her plan to purchase Internet access providers from universities would not get funded by venture capitalists, she joined UUnet (IPO, 1994), the first commercial Internet access provider. Magdalena was chosen as Entrepreneur of the Year in 1997 by Red Herring magazine. She started her career as a semiconductor design engineer at Advanced Micro Devices.
“I’m delighted to join the Board of Zuora as it matures into an global enterprise software leader,” said Yesil. “My first hand experience with Salesforce from its initial funding to public market success will be integral to providing guidance to help Zuora reach its next stage of development.”
Magdalena Yesil will be hosting the PowerUp breakfast panel on Wednesday June 7, 2017 from 8:00-9:30 am PT at Subscribed™, the conference designed for companies seeking to thrive amidst the most disruptive business-model shift in a century. Those looking to capitalize on this trend, and to learn how to develop and nurture lasting customer relationships, will convene June 5-7, 2017 at the Marriott Marquis in San Francisco.
About Zuora, Inc.
Zuora is a SaaS company and the world’s foremost evangelist of the Subscription Economy. Zuora’s leading subscription relationship management platform helps enable businesses in any industry to launch or shift products to subscription, implement new pay-as-you-go pricing and packaging models, gain new insights into subscriber behavior, open new revenue streams, and disrupt market segments to gain competitive advantage. Zuora serves more than 800 companies around the world in every industry, including Box, Komatsu, Rogers, Schneider Electric, Toshiba, Xplornet and Zendesk. The Subscription Economy Index (SEI) demonstrates that SEI companies are growing revenues approximately nine times faster than the S&P 500. Headquartered in Silicon Valley, Zuora also operates offices in Atlanta, Boston, Denver, San Francisco, London, Paris, Beijing, Sydney, Chennai and Tokyo.