Some good stuff in this morning's investor presentation
YAHOO.com
“Peter Thiel, the former PayPal CEO who is also famous for
making billions investing in Facebook during it's early days, just made another huge bet.
According to TechCrunch, He's teamed up with a handful of
investors to put ~$50 million into accounting software for small businesses company Xero.
Xero – from New Zealand, where Thiel is an active investor –wants to nuke Intuit's Quickbook business with a product you can access over the Internet.”
Made me laugh.
The other interesting statistics were on Page 30 = a 10 fold increase in target Xero customers to 1,000,000 - and still only 1.8% of the US market.
Compares well with Intuit's >7m customers.
Some good stuff in this morning's investor...
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