Aside from the much awaited mentioning on what their latest total paying customers on the day, the refreshment is a lot better than most AGM's :)
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I agree. But I do think it is not a great strategy to sign up people in the US based on promises you then can't deliver. There are now Xero skeptics getting vocal in the market. It's a new space for Xero to be in- rather than being the new dynamic entrant, they're just another half baked product for some people and have some hearts and minds to win if they're going to make it.
http://www.xconomy.com/san-francisco...ts-quickbooks/
A bit of commentary on Xero's progression in the US market. I personally like the comments. 1 for, 1 against and 1 neutral and they all look like plants from various companies with vested interests.
If you haven't, read the comments on this blog, http://www.catchingclouds.net/beyond...-xero#comments as it represent what I really feel is happening to XERO in the US market.
This NBR article is temporarily in front of the paywall.
Analyst downgrades Xero to sell, slices 12-month target — Drury responds
Two excerpts:
1. Woodward POV. "Woodward has cut its 12-month target price for Xero from $27.00 to $20.00 (in midday trading, Xero shares were up 1.2% to $26.06), and changed its rating from "reduce" to "sell". Mr Lewis' key concern remains the same: that Xero is doing well in NZ, Australia and the UK, but acquiring customers at a slower pace in the US where it faces the giant incumbent Intuit (market cap: $US23 billion; cash: $1.5 billion)."
2. Drury POV. "Today, Mr Drury told NBR that while Intuit had stirred, reports were over-estimating its progress. "We've forced them to move faster than they wanted to, and their customers are complaining. They’re not doing well, they’re in an incredible mess," he said, pointing NBR to a blizzard of negative comments about product changes on one of Intuit's own forums. "They’re certainly talking a big game, but we've done what Intuit hasn’t managed in 20 years – we've beaten Sage [in the UK] and MYOB [Australasia] in their home markets.""
http://www.nbr.co.nz/opinion/analyst...target-20-ck-p
Located this large article in the business section of the sunday star times today.
http://www.stuff.co.nz/business/industries/10232167/Xero-boss-focuses-on-growth