Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.Launch Radio player
Online accounting software company Xero is relocating its chief technology officer, Craig Walker, to the United States to drive product development.
Xero's community manager, and Mr Walker's wife, Catherine Walker, is also travelling to the US and both were really excited, said chief executive Rod Drury.
The company told an investor presentation it was establishing a beachhead in San Francisco where it will leverage off shareholder Peter Thiel.
Mr Thiel, who co-founded PayPal and was an investor in Facebook, became an investor in Xero last year.
The investment in Xero was through Mr Thiel's New Zealand investment firm Valar Ventures.
Xero has incorporated a US company called Xero Inc and is working on strategic partnerships in the US market. A full strategic update would be provided in late May, the company said.
Mr Thiel has said that Xero's tight focus, robust product, and strong team should enable it to expand tremendously in the US.
"Millions of small and medium-sized businesses need an online accounting solution, especially in this time of increasing regulatory and tax complexity."
Xero shares rose 11c to $2.62 yesterday.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Air NZ exclusive club member quits, says saga has been a ‘storm in a teacup’
- Auditor-General probes former SFO boss Feeley's housing accord
- Auckland business damns a ‘perfect storm’ of red tape – and English signals change
- Kiwifruit packer analyses its business publicly
- Hellaby Holdings sells packaging division to Coveris for $30m