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Thread: Xro - xero

  1. #11
    Senior Member warthog's Avatar
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    quote:Originally posted by etrader

    have a friend who's just launched www.1place.co.nz this is for small to medium business for accounting software maybe he will float after xero.. Free 3 months trial available on their site
    The hog notes that many NZ companies - amongst them Trademe (but not Xero) - do not profile on the website the people behind the venture.

    In the words of a high-flying banker mate of the hog, "if I can't see who's running the show when they want my attention, what are my chances if I want theirs? - don't touch websites like this with a bargepole".
    warthog ... muddy and smelly

  2. #12
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    I liked the bit about customer receipts for the period ending 31 March 2007 "NIL"

    But to be fair it is acknowleged in the prospectus, that it is "high risk" and even a casual read will confirm this, but putting a value of $55 million (post issue) on a company with no income, seems out of touch with reality, didn't anyone tell these guys the dot com boom was over ?

    I'll be interested to see how much this company manages to get for the IPO, if it's fully subscribed, I'd be astonished.

    Disc: Will stick with MYOB myself.


  3. #13
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    With Sam Morgan of Trade Me on the board this one will fly, at least to start with.

  4. #14
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    quote:Originally posted by Anna Naum

    With Sam Morgan of Trade Me on the board this one will fly, at least to start with.
    A couple concerns I have........

    With Sam Morgan on the board and Rod Dury as CE, betweeen them they can fund this without talking to their bank manager.

    Secondly how many other similar on line accounting software / websites are all ready out there.

    Taking it world wide? each country has is own particular rules and regulations relating to accounting practices.



  5. #15
    Senior Member warthog's Avatar
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    quote:Originally posted by waikare

    quote:Originally posted by Anna Naum

    With Sam Morgan of Trade Me on the board this one will fly, at least to start with.
    A couple concerns I have........

    With Sam Morgan on the board and Rod Dury as CE, betweeen them they can fund this without talking to their bank manager.

    Secondly how many other similar on line accounting software / websites are all ready out there.

    Taking it world wide? each country has is own particular rules and regulations relating to accounting practices.
    Funders seldom act alone - they spread the risk.

    Credibility and reliability are two major factors when it comes to SaaS applications. NZ has a way to go both in infrastructure and inclination when it comes to web services.

    Rules and regulations? Watch Xero tackle the markets that are closest in practices to NZ.

    One huge advantage is starting Xero in NZ. It's the ideal testing-ground. Cynical and stubborn. Ideal for ironing out the problems.

    Launching an internet-based service? If you do this in the UK - and I speak from experience here - and you're successful, watch your focus move quickly from product development to just keeping your servers from falling over. In big markets, things that become popular do so very quickly. If you're not ready for the hammering that the servers get, then it may just kill you as soon as you get the crowd's attention, which is really when you should be ready to change gear.

    I'm not saying Xero is an automatic success, but for a startup they are going well, and are probably holding back quite a bit. It's amazing what's going on behind the scenes that isn't visible to the market ... yet.
    warthog ... muddy and smelly

  6. #16
    Senior Member warthog's Avatar
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    quote:Originally posted by kura

    I liked the bit about customer receipts for the period ending 31 March 2007 "NIL"

    But to be fair it is acknowleged in the prospectus, that it is "high risk" and even a casual read will confirm this, but putting a value of $55 million (post issue) on a company with no income, seems out of touch with reality, didn't anyone tell these guys the dot com boom was over ?

    I'll be interested to see how much this company manages to get for the IPO, if it's fully subscribed, I'd be astonished.

    Disc: Will stick with MYOB myself.
    MYOB is like a slug. Watch Saas move with the times.

    Xero has nothing to do with the dot com bubble. There are high-risk propositions all over the market - why single out an internet-based business?

    Who said Xero wanted income before 300307? Maybe their current goal isn't income?
    warthog ... muddy and smelly

  7. #17
    Senior Member warthog's Avatar
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    quote:Originally posted by Anna Naum

    With Sam Morgan of Trade Me on the board this one will fly, at least to start with.
    The presence of SM isn't enough to make anything fly, per se. But check out Xero's website - there's a significant amount of other credibility there besides SM.
    warthog ... muddy and smelly

  8. #18
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    i like the part 'money raised to give to directors @ 4% interest so they can buy the shares'

    lol

    Oil - NZO
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  9. #19
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    Warthog,

    The problem I have with Saas is that the internet was supposed to make things cheaper. Saas seems to make them more expensive, despite promoters self-interested blather to the contrary.

    Sam Morgan got $700mil for Trade Me because, cost wise, its offerings were too compelling to ignore when compared to other offerings. Pay far less to get far more? Yeah, people will go for that over time.

    The $600 to $1200 Xero want from a small business for their system is not compelling and I have yet to hear of any "killer app" aspect to Xero.

    That said, they are not wrong to sense an opportunity. Scratch beneath the surface by talking to 100 MYOB customers in detail and you'll see what I mean.

    The opportunity for Xero definitely exists but having not yet seen anything of real substance (apart from the fact they're choosing to use our money and not theirs to chase the dream) I'll sit on the fence for a bit.

    ----
    Never try to teach a pig to sing. It wastes your time and annoys the pig.
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  10. #20
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    quote:Originally posted by Stranger_Danger

    Warthog,

    The problem I have with Saas is that the internet was supposed to make things cheaper. Saas seems to make them more expensive, despite promoters self-interested blather to the contrary.

    Sam Morgan got $700mil for Trade Me because, cost wise, its offerings were too compelling to ignore when compared to other offerings. Pay far less to get far more? Yeah, people will go for that over time.

    I recently sold a property through trade me, the listing cost $110 , If I sold it the traditional way, the agents fees would have been around $25,000...$30,000 Yes, I also paid for a valuation report and some signage, the eventual sale price was at the top end of the valuers price range, (sure, the process also took up about 60 hours of my personal time etc ) To me the potential savings were so compelling, that I thought I simply had to give it a go !

    Why would I want to transfer my bizz away from MYOB, to a SaaS service which has the potential to cost me a lot more in the long run ? Just can't see anything compelling at all myself. The cheapest XRO option is $50 per month, what does MYOB cost now (about $500 ? ) I purchaesd MYOB about 6 years ago, (got sick of doing everything on a spreadsheet) if I had been using the XRO service over the same 6 years that would have been a total cost of $3,600

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