Xro - xero

[Stranger_Danger]

Well, whatever happens next it must be said they got it listed and it ended up 10% after day one.

Congrats Rod Drury and co.

The other thing I suspect it proves is there plainly an appetite amongst some investors for risky, potentially high growth companies. Expect to see more.

Disc : None

[kura]

Yep, Fair enough, credit where credit is due, well done, I sure didn't think they would get this far !

Disc: Not even tempted !

[whatsup]

Down to below to issue/float pricing now =.90c wheres the bottom = good byeing (pun intended!!!)

[peterb]

Xero moves to General Release


Xero Live Limited ("XRO") today announced the move to a General Release of its small business accounting software.

General Release means Xero now has systems and processes in place for expected future growth, including streamlined customer sign-up and the introduction of a Xero "demo" for prospects wishing to trial the software.

Xero has been releasing software approximately every three weeks, in line with its schedule. This frequent release of functionality is underpinned by Xero's unique Software as a Service business model, where software updates are delivered over the Internet at no additional cost to the end user.

Xero's move to General Release confirms the company's goal set out in its Offer Document that it would have the operational capability required in August to move from Limited to General Release.

Xero Chief Executive Rod Drury said the company had achieved another key milestone.

"Since we listed 11 weeks ago we've had our heads down building a platform for growth in three key areas - building our team, delivering software and forming partnerships with accountants."

Mr Drury said the company had continued to hire the best people in a very tight labour market. Xero now has a core team of 41 people across its Wellington headquarters and Auckland offices.

Xero has also made significant investment in its back office management systems, which are fundamental to building a scalable business.

Xero's marketing activities since listing have primarily concentrated on accountants. Xero's national roadshow in August introduced Xero to the New Zealand accounting community.

"Accountants are key advisors for our target market. Their input helps us refine out product roadmap so we can create the most compelling offer for all small businesses," Mr Drury said.

Xero's Partner Programme for accountants includes a listing on Xero's "Find An Expert" section of its website, training, and joint marketing to small businesses.

As Xero moves into General Release its sales focus will initially be on a small segment of the overall target market.

"We are confident we have a great product for start-up and professional services businesses. This is where we'll be focussing our initial customer acquisition activity while we continue to create a more comprehensive offering for the broader market," Mr Drury said.

"These are early steps in a long journey. We are pleased with the progress we are making, executing our plan."


For more information, contact:
Kate McLaughlin
Market Communications Manager, Xero
+64 21 481 554
kate.mclaughlin@xero.com
www.xero.com

[Stranger_Danger]

I missed the part with the earnings guidance?

[peterb]

I missed the part with the earnings guidance?

earnings guidance would be a bit irresponsible at this stage I'd say. Once they get some sort of idea how sales are going then they should provide some sort of guidance. But nonetheless this is a good step.

disc. hold none. not interested

[Stranger_Danger]

So the head sales guy and the head finance guy are both leaving. Sales and finance are pretty key areas once you're past the idea stage and are trying to build an actual business.

Negative because the two guys now see Xero has its work cut out so bailed? Or positive because they weren't right for the job and the company has acted quickly and nudged them out for better prospects?

Interesting nonetheless this early on.

[biker]

So the head sales guy and the head finance guy are both leaving. Sales and finance are pretty key areas once you're past the idea stage and are trying to build an actual business.

Negative because the two guys now see Xero has its work cut out so bailed? Or positive because they weren't right for the job and the company has acted quickly and nudged them out for better prospects?

Interesting nonetheless this early on.

Your byline gives you the answer and it is to the negative question.

[FarmerGeorge]

Been watching this company as the idea behind it is sound and I met Drury a few weeks ago and his enthusiasm got me interested. One of the main advantages of XERO is that different businesses can use it to connect their accounts payable/receivable thus if a good number of people start using the software it will begin a snowball effect. But that's also the problem. How much does the average NZ business owner trust internet security? Enough to input all their businesses financial data? Well maybe but I'm not sure just yet. Success will occur if/when a critical mass of small businesses trust the security enough use the software and the rest of the SME community follows suit.
The size that critical mass needs to be depends on how connected the NZ SME community is. The more connected, the fewer needed, the more disparate the greater. I'm not investing in XRO right now because it is a complete punt and I'm better at blackjack but if we start to see evidence of SIGNIFICANT top line growth (indicative of the growing customer base and approaching the 'tipping point') this could be an excellent investment.

[TwinkleToes]

Haven't read through whole thread so forgive me if already mentioned - time constrained.

Internation Herald Tribune today article on Netsuite IPO which does what XRO does plus a few other things. Current revenue around USD 80m. Ellison acting as banker and suggested original idea to founder. In same space as XRO ; SME.

Just thought I'd show that this idea is getting serious. Presumably NASDAQ listing.