By ET Bureau - August 26, 2022 1 Mins Read
Zuora Inc., a provider of cloud subscription services, announced that it has reached an agreement to buy subscription paywall startup Zephr Inc. for USD 44 million cash. The addition of Zephr’s subscription paywall platform, according to Zuora, will give businesses the flexibility they need to quickly experiment and launch new digital services.
Together, the two businesses will provide a service that frees users from status and antiquated systems that hinder their ability to adapt to shifting subscriber expectations. According to Crunchbase, Zephr had raised USD 11.1 million in venture capital prior to the acquisition.
Knight Capital, Silicon Valley Bank, Nauta Capital, and BDMI are some of the investors. Subject to customary approvals and closing requirements, the transaction is anticipated to close in September.
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