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XERO PLANS U.S. IPO Featured

 Peter Karpas, Xero North AmericaCloud accounting company Xero plans an initial public offering in the United States for the year ending March 31, 2015. The company raised $150 million in capital late in 2013, largely from American investors, and you'd think these folks want their money back at some point. Xero is already public in Australia and New Zealand. With the company moving into an offering and the sensitivity involved in such endeavors, I was not surprised when an offered interview with Peter Karpas, CEO of Xero North America, did not produce a lot of new news.

He did, however, continue Xero’s practice of following the NetSuite model of competition bashing, contrasting the Xero and Intuit styles. He referred to Intuit’s recent spate of acquisitions and metaphorized that Intuit is creating "a Frankenstein-monster approach to the company experience by trying to knot these body parts together for the customer experience.” Xero, Karpas said, is focusing on best of breed in bringing apps to customers. More important is the presentation by company CEO Rod Drury at the annual meeting. He outlined the U.S. plans for 2015 as including building out the leadership team and getting new U.S. directors. The company will also look for “large distributorship partners” and build and online channel.

 

 

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