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XERO DOUBLES REVS, USERS

xero logoOnline accounting software vendor Xero reported that the number of customers and worldwide revenue doubled for the first half ended September 30. The numbers are still small in both categories and the New Zealand-based company lumped the number of users in the United States in a category that included the entire world except Australia, New Zealand and the United Kingdom.
For the U.S. and the rest of the world, there were 6,900 users at the end of last month, up from 3,000 on Sept. 30, 2001. The worldwide user count was 111,800 paying customers, an increase of 111 percent from 51,300 at the end of the first half of fiscal 2012. New Zealand had 57,000 users as of September 30, a rise of 87 percent from 30,600 last year. Revenue is expected to exceed roughly $14 million, again more than double the amount in last year's corresponding period. Meanwhile, the company also introduced online invoicing. That comes as there seems to be at least a minor trend toward combining invoicing and accounting on the low end. FreshBooks, which has been known largely as a marketer of online invoicing apps for small companies, recently started labeling itself as a producer of online accounting.
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