Accounting software firm Xero surpasses one million users worldwide
Wellington-based accounting software maker Xero has reached the milestone of more than one million subscribers worldwide.
Chief executive Rod Drury said the milestone coincided with the firm’s 10th anniversary of being a listed company and will be celebrated with teams around the world.
“It’s a massive achievement and it means a lot of risks have been taken out of our business,” he said.
“It’s nice to be able to celebrate both occasions at the same time.”
Drury said he’d be celebrating with hot cross buns for staff.
In less than two years Xero has doubled its subscriber numbers and added close to 300,000 in the past year alone.
“It was so hard getting our first 10,000 customers. I remember in the first year getting to 1300 customers, and that was a big deal, so to pass a million is just amazing,” Drury said.
More than one third of New Zealand small businesses are using Xero’s software.
“We are the most online small-business country in the world – no one has anywhere near that sort of market share in any other market. New Zealanders should be very proud; we are building a truly world-class company from this part of the world.”
The firm is on track to make $1 billion revenue, Drury said.
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