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Xero (company)

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In March 2023, Sukhinder Singh Cassidy, the CEO of Xero, announced the removal of 700-800 roles across Xero, representing approximately 15% of the employee base. At this time, the company reportedly had more than 3.5 million subscribers and about 4,500 staff across offices in New Zealand, Australia,
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The Xero accounting software uses a single unified ledger, which allows users to work in the same set of books regardless of location or operating system. It provides automatic bank feeds, invoicing, accounts payable, expense claims, fixed asset depreciation, purchase orders, bank reconciliations,
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By 2017, Xero had more than one million customers globally, and the following year, it had more than one million subscribers in Australia and New Zealand. In April 2018, Steve Vamos was appointed as CEO, replacing Rod Drury who remained on the board as a non-executive director until 2023. Vamos
523:. The payment included $ 31 million in cash and $ 49 million in earnout payments. Waddle allows small businesses to access loans secured by their accounts receivables. In March 2023, Xero announced it was cutting jobs and closing the Waddle app. 526:
In November 2021, it acquired inventory management provider Locate Inventory for US$ 19 million, and in December 2021, Xero announced it was acquiring Canadian tax software provider, TaxCycle, for
704: 1263: 864: 3677: 1600: 509:. In August 2018, it acquired Hubdoc, a data capture application. In November 2018, it acquired cloud-based accounts preparation and tax filing application Instafile for 1087: 478:. The company raised more than $ 100 million at a valuation of approximately $ 1.4 billion on the NZE by May 2013. This valuation was before receiving an additional 1322: 1217: 1574: 892: 1548: 1809: 3682: 502:, to integrate the company's products into its services. It acquired Spotlight Workpapers in July 2012 for a mixture of cash and shares totaling $ 800,000. 2193: 3038: 2817: 2103: 2881: 1392: 379:
North America, the UK and southeast Asia. The company announced it had finished its job cuts by November 2023, reducing headcount to 4,242 staff.
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model and sold by subscription, based on the type and number of entities managed by the subscriber. The products are used in over 180 countries.
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from Thiel and Matrix in October 2013, bringing total funding to more than $ 230 million. Xero raised an additional $ 100 million from
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Xero transitioned to a sole listing on the ASX on 5 February 2018, delisting from the NZX on 2 February 2018. In September 2019, the
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In November 2022, Xero announced the establishment of a technology base in India in partnership with technology outsourcing company
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in February 2012. It raised $ 49 million in a funding round in November 2012 with the largest amounts coming from Peter Thiel and
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In 2019, the company announced it had over two million global subscribers, and three million subscribers in September 2021.
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in convertible notes, more than previously raised by a New Zealand or Australian company not listed in the United States.
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In July 2011, Xero acquired the Australian online payroll provider Paycycle for a mixture of cash and shares totaling
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and $ 10.8 million from Matrix Capital on 25 February 2015. On 5 October 2018, Xero announced a settlement of
340:, the United Kingdom, the United States, Canada, South Africa and Singapore. Xero's products are based on the 2599: 2133: 3667: 3646: 3193: 3106: 2320: 1986: 3598: 3270: 2208: 1835: 1601:"Xero Zeros In On Another $ 150M To Do Battle With Intuit In The World Of Online SMB Accounting Software" 360:, where Xero Limited's headquarters are still located. The company was originally called Accounting 2.0. 1700: 3618: 2429: 3118: 2526: 2463: 1138: 1549:"Xero: A billion-dollar software company that had five years in stealth at the bottom of the planet" 2480: 2213: 1756: 3603: 3402: 3052: 2991: 2953: 2730: 2499: 2230: 1979: 1575:"Peter Thiel And Existing Investors Put Another $ 49 Million In Accounting Software Company Xero" 429: 365: 177: 153: 865:"How Rod Drury Built Xero From A 'Small Set Of Rocks In The South Pacific' Into A Global Player" 664: 616: 569: 1004: 807: 3437: 3148: 2314: 440: 341: 104: 893:"THE UNTOLD STORY: How Xero took a band name and changed accounting for a million companies" 3159: 3009: 2724: 419: 8: 3562: 3532: 3502: 3216: 2908: 2198: 2183: 1907:"Xero to acquire Calgary's TaxCycle in $ 75 million CAD deal to expand Canadian presence" 516:
In August 2020, Xero acquired Waddle, an Australian-based invoice financing startup, for
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announced in November 2022 that he would step down in February 2023 and be replaced by
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Xero has also received funding from various investors. In 2009, it received
3542: 3522: 3467: 3452: 3412: 3301: 2931: 2697: 2686: 2516: 2454: 2437: 2342: 2153: 2047: 1417: 731:"Small Biz Accounting Software Space Heats Up As Xero Raises $ 150 Million" 169: 1114:"Xero posts half-year net loss as investment in product development grows" 3557: 3427: 2889: 2713: 2654: 2592: 2402: 2364: 2282: 2276: 2079: 1655: 463: 322: 3507: 3472: 3457: 3447: 3336: 3142: 2997: 2737: 2611: 2352: 2270: 2265: 2241: 1341:"Tax refund agents weigh futures as IRD prepares huge software release" 357: 237: 3185: 1626:"Xero secures US$ 141M from Accel Partners, Matrix Capital Management" 1523:"Xero secures US$ 141M from Accel Partners, Matrix Capital Management" 540:. The India technology base includes engineering and developer roles. 3623: 3442: 3392: 3346: 3331: 3321: 3296: 3280: 3112: 3082: 3071: 2870: 2681: 2299: 2203: 2178: 2053: 2037: 2017: 1497:"Peter Thiel Invests $ 3 Million In Xero To Support Its US Expansion" 1088:"'A big milestone': Xero hits two million subscribers, revenue jumps" 945:"Accounting software firm Xero surpasses one million users worldwide" 353: 337: 136: 39: 2009: 3593: 3527: 3487: 3482: 3376: 3311: 3306: 3260: 3255: 2762: 2493: 2408: 2397: 2173: 2168: 3552: 3537: 3512: 3371: 3316: 3250: 3003: 2797: 2669: 2554: 2542: 2309: 2304: 2224: 2072: 537: 505:
In July 2018, Xero formed a partnership with US payroll platform
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In the 2019 financial year, Xero offered services relating to
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for small businesses. The company has offices in New Zealand,
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mobile apps for iOS and Android devices were released.
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Companies listed on the Australian Securities Exchange
1218:"Cloud Accounting Comparison – Data Import and Export" 776:"Xero grows to $ 1 Billion revenue – Enterprise Times" 1728:"Xero forms alliance with US payrolls platform Gusto" 974:"Xero hits million mark for trans-Tasman subscribers" 1540: 3659: 1929: 1927: 1862:"Xero to cut hundreds of jobs, close Waddle app" 803:"Xero halves losses, closes in on profitability" 493: 458:founder, Craig Winkler. It raised an additional 388:and standard business and management reporting. 1442: 609: 1035:"Xero appoints new CEO as Vamos set to depart" 3201: 1987: 1935:"Xero establishes a technology base in India" 1924: 1784:"Xero acquires Instafile for £5.25 million -" 1679:"Xero buys payroll firm to boost Aust growth" 1320: 1111: 561: 3683:Companies listed on the New Zealand Exchange 1836:"Xero to acquire Waddle for AU$ 80 million" 1165:"Xero announces plan to cut up to 800 jobs" 3208: 3194: 1994: 1980: 1964: 1296:"Xero is preparing for Making Tax Digital" 592:"NZ-based SaaS provider Xero lists on ASX" 38: 1833: 1443:Pullar-Strecker, Tom (6 September 2019). 1112:Chanthadavong, Aimee (11 November 2021). 674: 248:NZ$ −113.5 million (2023) 1881:"Xero acquires inventory mgmt. provider" 1572: 1546: 1321:Zaharov-Reutt, Alex (28 November 2018). 1261: 728: 702: 585: 583: 567: 3215: 1494: 1364: 1358: 589: 14: 3703:Software companies established in 2006 3660: 1807: 1781: 1676: 1598: 1085: 916: 751: 3189: 1975: 1904: 1468: 1189: 919:"Xero grows to $ 1 Billion revenue -" 887: 885: 862: 580: 1878: 1725: 1418:"Shareholder update on Xero listing" 1365:Niesche, Christopher (6 June 2007). 1264:"Xero Debuts Mobile App for Android" 1059: 997: 942: 800: 590:Barwick, Harrish (8 November 2012). 1573:Williams, Alex (29 November 2012). 1520: 1242: 1215: 729:Campbell, Anita (13 October 2013). 368:, a former executive of Google and 24: 3713:2006 establishments in New Zealand 1782:Brooks, Steve (16 November 2018). 1599:Lunden, Ingrid (13 October 2013). 1495:Wauters, Robin (22 October 2010). 1000:"Xero CEO Rod Drury stepping down" 882: 641:"Xero Limited 2018 Interim Report" 568:Laugesen, Ruth (17 October 2013). 282:NZ$ 1.185 billion (2024) 231:NZ$ 57.29 million (2023) 25: 3729: 3708:Software companies of New Zealand 3228:Comparison of accounting software 1951: 1879:Hood, Daniel (12 November 2021). 1390: 1262:Fineberg, Seth (2 October 2012). 838:"No guts, no glory for Xero boss" 752:Robins, Brian (6 November 2013). 682:"Xero Limited Annual Report FY23" 617:"Xero Limited 2018 Annual Report" 550:Comparison of accounting software 265:NZ$ 2.65 billion (2024) 3642: 3641: 3498:Open Systems Accounting Software 3170:Companies which are also in the 2008: 1905:Scott, Josh (28 December 2021). 1859: 1086:Waters, Cara (7 November 2019). 1060:Ruth, Jenny (11 November 2022). 470:who also invested an additional 278: 277: 261: 260: 244: 243: 227: 226: 204: 203: 3688:Companies in the S&P ASX 50 1898: 1872: 1853: 1827: 1808:Waters, Cara (25 August 2020). 1801: 1775: 1749: 1719: 1693: 1677:Rogers, Claire (21 July 2011). 1670: 1643: 1618: 1592: 1566: 1547:McKenzie, Hamish (1 May 2013). 1514: 1488: 1462: 1436: 1410: 1384: 1333: 1314: 1288: 1255: 1236: 1209: 1183: 1157: 1131: 1105: 1079: 1053: 1027: 991: 966: 936: 910: 856: 830: 794: 768: 703:Mckenzie, Hamish (1 May 2013). 310:Footnotes / references 2665:Auckland International Airport 2600:Fisher & Paykel Healthcare 2416:Australian Securities Exchange 1471:"MYOB founder buys into rival" 1039:NBR | The Authority since 1970 917:Brooks, Steve (20 July 2016). 745: 722: 696: 657: 633: 434:Australian Securities Exchange 13: 1: 3718:2007 initial public offerings 3673:Companies based in Wellington 943:Shaw, Aimee (29 March 2017). 555: 494:Acquisitions and partnerships 352:In 2006, Xero was founded by 3698:Financial software companies 3107:Shopping Centres Australasia 1726:Gray, Jamie (19 July 2018). 998:Ryan, Holly (4 March 2018). 443:of Xero on the ASX exceeded 7: 3271:RCA Open-Source Application 2430:Bendigo & Adelaide Bank 2130:Corporate Travel Management 1469:Sharp, Ari (7 April 2009). 756:. The Sydney Morning Herald 543: 116:; 18 years ago 27:Accounting software company 10: 3734: 801:Ryan, Holly (9 May 2018). 436:(ASX) on 8 November 2012. 413: 382: 347: 125:in Wellington, New Zealand 3637: 3586: 3385: 3364: 3289: 3243: 3236: 3223: 3168: 3135: 3119:Unibail-Rodamco-Westfield 3023: 2833: 2747: 2647: 2569: 2527:Platinum Asset Management 2464:Insurance Australia Group 2390: 2330: 2251: 2094: 2030: 1814:The Sydney Morning Herald 1475:The Sydney Morning Herald 1345:New Zealand Reseller News 1220:. Sleeter. Archived from 1216:Lam, Greg (2 July 2013). 1092:The Sydney Morning Herald 978:New Zealand Reseller News 308: 296: 286: 269: 252: 235: 218: 199: 189: 160: 148: 129: 110: 100: 86: 56: 46: 37: 2581:Clinuvel Pharmaceuticals 418:Xero went public on the 3403:AME Accounting Software 3053:Cromwell Property Group 2954:Northern Star Resources 2731:Sydney Airport Holdings 2500:National Australia Bank 2231:The Lottery Corporation 422:on 5 June 2007, with a 402:in the United Kingdom, 366:Sukhinder Singh Cassidy 178:Sukhinder Singh Cassidy 154:Wellington, New Zealand 3076:Growthpoint Properties 2031:Communication Services 1834:Chanthadavong, Aimee. 1757:"Xero acquires Hubdoc" 1367:"Xero begins strongly" 1005:The New Zealand Herald 808:The New Zealand Herald 391:In 2011 and 2012, the 356:and Hamish Edwards in 3693:Dual-listed companies 3438:Fortora Fresh Finance 2315:Treasury Wine Estates 2209:SkyCity Entertainment 441:market capitalisation 342:software-as-a-service 105:Software as a service 3160:Spark Infrastructure 2725:Seven Group Holdings 2481:Magellan Global Fund 2020:   → 1190:Stevenson, Rebecca. 574:New Zealand Listener 420:New Zealand Exchange 404:Single Touch Payroll 174:(chair of the board) 3668:Accounting software 3503:Oracle Applications 3217:Accounting software 3049:Charter Hall Retail 3043:Centuria Industrial 2791:Link Administration 2199:Premier Investments 2007:←    1707:. 30 September 2015 844:. 20 September 2014 334:accounting software 288:Number of employees 194:Accounting software 34: 3433:FinancialForce.com 3015:Westgold Resources 2982:Ramelius Resources 2927:Independence Group 2720:Reliance Worldwide 2694:Monadelphous Group 2624:Ramsay Health Care 2470:Insignia Financial 2425:Bank of Queensland 2219:Super Retail Group 2214:Star Entertainment 2194:Pointsbet Holdings 2189:Nine Entertainment 2110:Aristocrat Leisure 1371:New Zealand Herald 1302:. 15 November 2018 1276:on 23 October 2013 1196:businessdesk.co.nz 1066:businessdesk.co.nz 1041:. 10 November 2022 733:. Small Biz Trends 570:"From Xero a hero" 454:of funding led by 406:in Australia, and 400:Making Tax Digital 327:technology company 212:1.399 billion 32: 3655: 3654: 3578:You Need a Budget 3360: 3359: 3183: 3182: 3174:are displayed in 3046:Charter Hall Long 2944:Mineral Resources 2903:Fletcher Building 2894:Deterra Royalties 2450:Credit Corp Group 2444:Commonwealth Bank 2139:Eagers Automotive 2067:Spark New Zealand 2025: 2006: 1761:Finextra Research 1521:Tanwani, Maneka. 1424:. 22 January 2018 1249:Merchant Maverick 316: 315: 292:4,242 (2024) 16:(Redirected from 3725: 3645: 3644: 3548:SAP Business One 3463:Liberty Accounts 3241: 3240: 3210: 3203: 3196: 3187: 3186: 3124:Vicinity Centres 3095:National Storage 3039:Centuria Capital 2978:Pilbara Minerals 2898:Evolution Mining 2638:Sonic Healthcare 2021: 2012: 2002: 1996: 1989: 1982: 1973: 1972: 1968: 1963: 1962: 1960:Official website 1946: 1945: 1943: 1941: 1931: 1922: 1921: 1919: 1917: 1902: 1896: 1895: 1893: 1891: 1885:accounting today 1876: 1870: 1869: 1866:accountantsdaily 1857: 1851: 1850: 1848: 1846: 1831: 1825: 1824: 1822: 1820: 1805: 1799: 1798: 1796: 1794: 1788:Enterprise Times 1779: 1773: 1772: 1770: 1768: 1753: 1747: 1746: 1744: 1742: 1723: 1717: 1716: 1714: 1712: 1697: 1691: 1690: 1688: 1686: 1674: 1668: 1667: 1665: 1663: 1647: 1641: 1640: 1638: 1636: 1622: 1616: 1615: 1613: 1611: 1596: 1590: 1589: 1587: 1585: 1570: 1564: 1563: 1561: 1559: 1544: 1538: 1537: 1535: 1533: 1518: 1512: 1511: 1509: 1507: 1492: 1486: 1485: 1483: 1481: 1466: 1460: 1459: 1457: 1455: 1440: 1434: 1433: 1431: 1429: 1414: 1408: 1407: 1405: 1403: 1388: 1382: 1381: 1379: 1377: 1362: 1356: 1355: 1353: 1351: 1337: 1331: 1330: 1318: 1312: 1311: 1309: 1307: 1292: 1286: 1285: 1283: 1281: 1272:. 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1617: 1591: 1565: 1539: 1513: 1487: 1461: 1435: 1409: 1391:Geron, Tomio. 1383: 1357: 1332: 1313: 1287: 1254: 1235: 1208: 1182: 1171:. 9 March 2023 1156: 1145:. 9 March 2023 1130: 1104: 1078: 1052: 1026: 990: 965: 935: 909: 881: 855: 829: 793: 782:. 20 July 2016 767: 744: 721: 695: 684:. Xero Limited 673: 656: 632: 608: 596:Computer World 579: 559: 557: 554: 553: 552: 545: 542: 495: 492: 476:Matrix Capital 468:Valar Ventures 452:NZ$ 23 million 445:NZ$ 10 billion 415: 412: 384: 381: 349: 346: 329:that provides 314: 313: 306: 305: 298: 294: 293: 290: 287: 284: 283: 275: 267: 266: 258: 250: 249: 241: 236: 233: 232: 224: 219: 216: 215: 201: 197: 196: 191: 187: 186: 184: 183: 180: 175: 172: 166: 164: 161: 158: 157: 152: 150: 146: 145: 143: 142: 141:Hamish Edwards 139: 133: 131: 127: 126: 112: 108: 107: 102: 98: 97: 90: 84: 83: 81: 80: 74: 64: 62: 57: 54: 53: 48: 44: 43: 26: 9: 6: 4: 3: 2: 3730: 3719: 3716: 3714: 3711: 3709: 3706: 3704: 3701: 3699: 3696: 3694: 3691: 3689: 3686: 3684: 3681: 3679: 3676: 3674: 3671: 3669: 3666: 3665: 3663: 3648: 3640: 3639: 3636: 3630: 3627: 3625: 3622: 3620: 3617: 3615: 3612: 3610: 3607: 3605: 3602: 3600: 3597: 3595: 3592: 3591: 3589: 3585: 3579: 3576: 3574: 3571: 3569: 3566: 3564: 3561: 3559: 3556: 3554: 3551: 3549: 3546: 3544: 3541: 3539: 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2018:Australia 1736:1170-0777 1014:1170-0777 953:1170-0777 817:1170-0777 354:Rod Drury 338:Australia 137:Rod Drury 79:component 59:Traded as 3647:Category 3563:TRAVERSE 3528:Sage 300 3488:NewViews 3483:NetSuite 3377:Outright 3365:Freeware 3312:Dolibarr 3307:Compiere 3261:KMyMoney 3256:HomeBank 3128:Waypoint 2794:Megaport 2763:Afterpay 2676:Brambles 2616:Polynovo 2586:Cochlear 2494:Medibank 2398:Afterpay 2174:JB Hi-Fi 2169:InvoCare 2121:Breville 1454:9 August 649:17 March 544:See also 302:Xero.com 190:Products 130:Founders 101:Industry 3553:SAP ERP 3538:Sage X3 3513:Quicken 3493:NOSA XP 3398:Agresso 3372:NolaPro 3317:ERPNext 3251:GnuCash 3244:Non-web 3004:South32 2851:Alumina 2798:Nearmap 2670:Aurizon 2605:Healius 2555:Westpac 2543:Suncorp 2310:Metcash 2305:Inghams 2254:Staples 2225:Tabcorp 2073:Telstra 1916:19 July 1911:betakit 1890:19 July 1767:12 July 1741:12 July 1350:12 July 1306:12 July 1019:12 July 983:12 July 958:12 July 928:27 June 902:27 June 848:1 March 822:12 July 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Index

Xero (software)

Public
Traded as
ASX
XRO
S&P/ASX 200
ISIN
NZXROE0001S2
Software as a service
Rod Drury
Wellington, New Zealand
David Thodey
Sukhinder Singh Cassidy
Accounting software
NZ$
Operating income
Net income
Total assets
Total equity
Xero.com
New Zealand
technology company
cloud-based
accounting software
Australia
software-as-a-service
Rod Drury
Wellington
Sukhinder Singh Cassidy

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