Zuora CEO Tien Tzuo breaks down for Jim Cramer why more companies are picking up on the subscription economy to better serve their customers.
More and more companies are tuning in to the emerging subscription economy and it will be necessary for the manufacturing industry to find new sources of growth, Zuora CEO Tien Tzuo told CNBC Wednesday.
"They know how you use your product. They provide a service to you," Tzuo said in a sit down with Jim Cramer on "Mad Money.""What you're gonna see is every physical product, from appliances [at] Whirlpool, cars from Ford, tractors from Caterpillar, they're all going to go through a transformation and become services."
Zuora provides software to help businesses launch and manage their subscription-based services. The cloud company has a $2.2 billion market share. Furthermore, a large subscriber base of long term customers could help influence a company's value, Tzuo said. That explains why Wall Street has placed a lot of value in the more nascent subscription businesses, he added, such as Netflix.
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