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Posted by NZPA on 21 August 2008
Xero Claims 2,000 Customers, sees sign-ups accelerate
It had taken 18 months from start-up to gain its first 1000 customers, and 4½ months for the next 1000, Xero said today. Chief executive Rod Drury said customer growth had continued to be strong during the traditionally quiet period for accounting systems changeover.
"While still early days, we are seeing the inevitable transition of small businesses moving to online software, and the word-of-mouth effect beginning to kick in," he said.
The company was working hard to ensure that it was well positioned for the key New Zealand accounting software changeover at the end of the financial year next March.
The company raised $15 million in an initial public offering last year and reported a net loss for the year to March of $4.3 million, with receipts below forecast.
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