The company raised $150 million in capital late in 2013 and says its market valuation is now $2.7 billion. Revenue for the most recently ended year was about $65 million, an increase of about 83 percent over 2013. The New Zealand-based company lost roughly $17.4 million, a 147-percent rise from the loss in fiscal 2013.
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Xero to Have U.S. IPO
Cloud accounting company Xero plans an initial public offering in the United States for the year ending March 31, 2015. The company is already public in Australia and New Zealand. The company did not give a more precise estimate of when the offering would be made or how big it may be, only that the timing depends on market conditions.
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