And some good news...
Xero accounting app @Xero2h
Excited to win client software product of the year at the British Accountancy Awards 2013 #baa2013! ^OG pic.twitter.com/kWaw909BlN
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And some good news...
Xero accounting app @Xero2h
Excited to win client software product of the year at the British Accountancy Awards 2013 #baa2013! ^OG pic.twitter.com/kWaw909BlN
Respectable achievement that can only be good for brand awareness. I see your award as well as billboards in Australia, and I raise you a super bowl ad:
http://abcnews.go.com/Sports/wireSto...ntest-20846110
Nice one!
Especially considering Xero is creeping in on the horizon hot; what a great timing to throw in a Superbowl ad for its luckiest client in order to help maintain their no.1 position.
What's interesting to me in this article is that 0.3% of their 5M customer base entered an opportunity of a lifetime - which I'm having a hard time to justify.
Casino could you please share your thoughts on why only 0.3% of their clientèle entered?
I don't know why only 15000 of Intuit's small businesses thought that they have what it takes to produce a super bowl ad. I don't know why Xero deserves a valuation that is 25% of Intuit's when they don't even have that many total customers in the US. I don't know why Rod Drury suggests to the market that others didn't have similar resources to Xero. Here is what I know:
1. Intuit has made a lot of strategic acquisitions that will make entering the US market even harder.
http://online.wsj.com/article/PR-CO-...442.html?dsk=y
Xero cannot provide those benefits to US customers. They can't even provide core accounting functionality or even the promise that they will be around for as long as your business will be. What exactly is their competitive advantage? Are they going to develop those tools themselves? Why don't they roll out quotes, inventory and a fix for purchase orders first? Maybe they could acquire a few companies too? With their 230 million they could have bought half of Demandforce.com. Not much cash left then to ramp up staff up to 1200, is there?
2. Intuit has opened their API for free. This gives app developers access to more than 20 times as many business as Xero can:
http://online.wsj.com/article/PR-CO-...655.html?dsk=y
apps.com just went online somewhat coinciding with drop of GEO.
This can be a chance or seriously ruin it for Xero add-ons.
Either way, Xero is not a stock for Kiwi mums and dads.
You are deliberately fudging over what was said. The report clearly stated no other new entrant had the same resources. Can you name another new entrant with $230m in the bank?Quote:
I don't know why Rod Drury suggests to the market that others didn't have similar resources to Xero.
That's cherry picking. You could likewise say QBO is a new entrant to Australia. Netsuite is a new entrant to the small business market. Cloud accounting is new therefore all cloud accounting platforms are new entrants by definition including MYOB live accounts etc. It is not an acceptable statement to present yourself as the number one challenger when your competitors are way ahead of you. Also you need to give the market the most relevant information not the least relevant information, which is how you compare to the incumbent.
It makes perfect sense for Xero to fail in the US and for Intuit to take over the world with all the info you've provided thus far.
Yet 'for reasons unknown' Xero is a growing force to be reckoned with and will eventually take a good % of the US market >> only because they changed the look of their software ever so slightly >> (let's face it same **** different brand - example Windows vs OSX vs Linux)
Do you want to know why tho? Because things are much stranger than one can possibly imagine let alone understand or calculate as a whole. Ain't no equation to tie it all together my man.
In my opinion, Xero has successfully embedded itself in the culture of their clients / accounting / whatever. That's where Intuit failed and that's why there is a Xero at this price.
Hence the 0.3% interests in getting a free superbowl ad from Intuit.
Casino.... You appear from all your posts that you are a little agin Xero for many reasons....I may have missed a post somewhere but are you a holder of Xero shares..?
From twitter, about an hour ago.
Rod Drury @roddrury1h
Great to see tone of feedback from @Xero loss yesterday maturing as more understand model of investing up front for growth. Lots to do tho