UPDATE: Xero is now worth more than Telecom
We would like to extend our Congratulations to Wellington based company Xero, for today becoming the third most valuable company on the NZX (New Zealand Stock Exchange).
Xero now has a market capitalisation of over 4 billion dollars. Only Auckland Airport, and Fletcher Building have a higher market capitalisation than Xero, and all of those others are long established companies.
It is great to see a Wellington based technology company doing so well, and in such a short period of time. In NZ we tend to celebrate our sporting success stories, but rarely do we celebrate our business ones.
We have been long term fans of Xeros SaaS software, due to it’s ease of use and how it makes accounting ‘easy’. We see great future potential in the software, especially with third parties creating their own software that integrates with Xero, to add even more power to it.