Xero halfway to million customer target

Wed, 03 Jun 2015

By Paul McBeth June 4 (BusinessDesk) - Xero, the cloud-based accounting software developer, is halfway to its target of a million customers, adding 25,000 new subscribers since its March 31 balance date. The Wellington-based company has been forgoing short-term profits and burning through cash as it chases global scale by targeting New Zealand, Australia, the UK and the US markets. Xero had 475,000 customers at March 31, with annualised recurring monthly revenue of $159.3 million. With today's announcement of the addition of another 25,00...

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