XRO
04/06/2015 08:30
GENERAL
NOT PRICE SENSITIVE
REL: 0830 HRS Xero Limited
GENERAL: XRO: Xero Celebrates 500,000 Subscriber Milestone
MARKET RELEASE
3 June 2015
XERO CELEBRATES 500,000 SUBSCRIBER MILESTONE
Xero Limited (NZX/ASX: XRO) announced that it has recently surpassed the
significant milestone of half a million subscribers to its global online
accounting software platform. From Anguilla to Zimbabwe - customers in more
than 180 countries have chosen Xero's beautiful cloud accounting software as
their preferred business tool.
Xero now has its sights firmly set on the journey to one million subscribers,
as it works toward its vision of millions of small businesses around the
globe thriving on Xero. Xero is delivering on its growth plans, and is the
cloud accounting market leader in New Zealand, Australia and the United
Kingdom.
Xero CEO, Rod Drury said, "Four years ago we reached 50,000 subscribers.
Since then we have grown our paying subscriber base ten-fold, built-out our
accounting platform through constant innovation, and become one of the
fastest growing Software as a Service companies in the world. We're immensely
proud of achieving 500,000 subscribers who can be found using Xero across US
states, UK counties, Australian states and territories, New Zealand, and the
large continents and small islands in between," said Rod Drury, Chief
Executive of Xero.
"We thrive knowing that Xero is a part of the daily lives of many small
business owners, accountants and bookkeepers, and that Xero is making life
that little bit easier for them to do what they love. What drives us is
realising the full potential of Xero to go beyond accounting, and we're
committed to delivering more and more innovations to give our customers both
the tools and the edge that make their businesses succeed and flourish.
Congratulations to our partners and small businesses who inspire us every day
to keep raising the bar and deliver nothing less than best-in-class," he
added.
Xero delivered strong revenue and customer growth in all markets during its
2015 financial year, and grew subscription revenue by 81% to NZ$120.9
million. Through Xero's commitment to continual innovation, it has already
released over 380 new features and updates this calendar year. Forbes
recently ranked Xero as Number 1 on its list of the World's Most Innovative
Growth Companies for the second consecutive year. The Company was also
recently awarded the 2015 Hi-Tech Company of the Year at the New Zealand
Hi-Tech Awards.
ENDS
About Xero
Xero is beautiful, easy-to-use online accounting software for small
businesses and their advisors. Xero has over 500,000 subscribers in more
than 180 countries. Xero seamlessly integrates with over 400 third-party
tools, and was ranked No. 1 by Forbes as the World's Most Innovative Growth
Company in 2014 and 2015.
For more information contact:
Rod Drury
Xero CEO
[email protected]
+64 27 6000 007
End CA:00265188 For:XRO Type:GENERAL Time:2015-06-04 08:30:32
