Online accounting software company Xero says it now has 100,000 paying customers, up from 45,000 last year.
CEO Rod Drury told the company's annual meeting that it took Xero five years to achieve its first 50,000 customers, and 10 months to net the next 50,000.
Mr Drury said annualised committed monthly revenue had increaded to an annual run-rate of $34.5 million, up from $25.5 million at March 31, 2012, and 57% of Xero’s committed monthly revenue is from offshore markets, up from 51%.
Xero will consider dual listing on the ASX to make it easier for Australian partners and customers to purchase shares, the CEO said.
Xero proposed Craig Elliott, the co-founder and chief executive of cloud-network software firm Pertino Networks, be added to the company's board, accompanying chairman Sam Knowles' address.
Elliott is a strategic adviser to New Zealand Trade & Enterprise, spent a decade with Apple Inc in senior roles, and had previously run Packeteer, whose software aimed at improving network performance.
The appointment has yet to be finalised, a Xero spokesman told NBR.
The Wellington-based company said it had identified a candidate for a US-based director, but was still looking for an Australian to join the board.
The companies shares [NZX:XRO], which have recently retreated from an all-time high of $5.80, closed today up 1.01% to $5.00 – valuing the so-far profit-less company at $524 million.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Milk price rise has economists scratching their heads
- Loss of Premier League rights reveals limit to Spark's on-demand video ambition
- Blame the architects for the building my company is about to destroy
- This week in politics: Parliament starts
- Behold Fanpass, Sky's streaming video service that actually works – and today it's free
Most listened to
- Sir Bob Jones on the state of New Zealand architecture
- ForBarr analyst Blair Galpin on the Premier League development - and the future of sports broadcasting as technology shifts
- Macquarie's Brad Gordon on Michael Hill's "very good" results
- Nevil Gibson in his latest Editor's Insight on whether we've seen the end of El Nino
- RNZ chief executive Paul Thompson on what it means to be included in the commercial radio survey