Fun fact: A Xero user on ASX-listed accountancy platform’s 2nd top tier of $100 a month would need to subscribe for nearly 21,000 years to cover the cost of CEO Sukhinder Singh Cassidy’s annual pay packet. Luckily, Xero (ASX:XRO) has more than one customer. As the company’s remuneration committee chair, Susan Peterson, outlined at the… Read more »
Just before Christmas, as staff put on Hawaiian shirts and went to Christmas lunches HR hoped didn’t create more work for them, New Zealand ASX-listed accounting platform Xero (ASX: XRO) dropped details on a new pay plan for CEO Sukhinder Singh Cassidy. The December 18 release, titled “Xero CEO pay revised, aligns to performance and… Read more »
Small business invoice lender Waddle is getting new parents, with the Commonwealth Bank taking the fintech off Xero’s hands, three years after the ASX-listed accounting platform acquired the Sydney scaleup in an $80 million deal. Waddle, co-founded in 2014 by Simon Creighton and Nathan Andrews, makes it easier for banks and fintechs to lend to… Read more »
ASX-listed accounting platform Xero is the latest tech company to put a scythe through its workforce, cutting up to 800 roles globally to improve its bottom line. The New Zealand software company’s cuts come a day after Nasdaq-listed Atlassian announced it was cutting 500 positions. Xero (ASX: XRO) employs around 5000 people, meaning around 15%… Read more »
Hotels tech venture, SiteMinder, has appointed former Xero managing director, Trent Innes, as Chief Growth Officer (CGO) and ex Apple executive, Tim Howard, as the Chief Financial Officer (CFO). SiteMinder is an open hotel commerce platform, enabling hotels and lodging operators to market, sell, manage and expand their operations. The tech venture provides a complete… Read more »
ASX-listed accounting platform Xero has more than doubled its net loss on the previous year to the chagrin of investors who wiped more than $1 billion from the company’s valuation following the announcement and news that CEO Steve Vamos is stepping down after nearly five years at the helm. The New Zealand tech company’s half… Read more »
ASX-listed accounting fintech Xero has opened new Australian headquarters in the inner-Melbourne suburb of Hawthorn. The 7000 square metres site, spanning four levels, brings together Xero’s Melbourne team under one roof for the first time after a decade. The office features breakout spaces (with hearing assistance solutions), webinar suites and an indoor garden – a… Read more »
ASX-listed business accounting platform Xero is taking on Google and Apple at their own game, launching an app store selling Xero-connected apps. The Xero App Store lets small businesses, accountants and bookkeepers purchase apps to help run their companies, and went live last week. Xero app partners in Australia, United Kingdom and New Zealand now… Read more »
Xero’s Australia and Asia managing director, Trent Innes, has called time on his eight-years leading the ASX-listed venture. The cloud-based accounting platform’s executive GM of global sales, Joseph Lyons, will step up to the MD role to start the new financial year on July 1. Innes will remain in the business until September to oversee… Read more »
We tend to over-complicate leadership; just look at the number of books on the topic (I should know, I’ve read most of them). But when suddenly faced with the prospect of leading a business during a pandemic, I quickly discovered that there’s no playbook. Instead of over-thinking each step, I’ve focused my attention only on… Read more »
As we head into the budget, many of the nation’s more than 2.3 million small businesses will be watching for measures to aid the recovery of this key sector of the economy. A recent Xero survey found 17% of small business owners believed the sector should be the central focus of the budget, and nearly… Read more »
When founder Rod Drury listed his cloud-based accounting platform Xero with an IPO on the New Zealand stock exchange in 2007, raising NZ$15 million, the company was less than a year old, had no sales and less than 100 customers. It had a market capitalisation of NZ$55 million. Analysts at the time joked that Xero… Read more »
Accounting software giant Xero Ltd is moving into lending to small business through invoice financing, announcing plans to acquire Sydney startup Waddle for up to $80 million. Xero (ASX: XRO) said the acquisition of the cloud-based lending platform aligns with its strategy to grow the small business platform and to address critical small business financial needs. “Waddle’s… Read more »
A new index featuring ASX-listed companies in the fast-growing technology sector launches on the Australian stock exchange on Monday. The S&P/ASX All Technology Index (All Tech Index), a partnership between the ASX and S&P Dow Jones Indices using the S&PDJI methodology, will go live on February 24, with an Australian version of the US… Read more »
Accountancy software venture Xero has integrated accounts payable functions on its platform with Australia’s largest business bank in move the company is calling a game-changer. Australian businesses using Xero that have NAB internet banking will be able to instruct multiple bill payments at a time through Xero and approve their bill payments anytime, anywhere, directly… Read more »
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