I’ve been watching Xero since it launched a decade ago.
Actually, I’ve been watching Xero even longer than that — I’ve used the product since soon after it launched, but co-founder and CEO Rod Drury has been talking about the small business accounting space since long before that. I’ve been a long-time fan, albeit one with some questions. While I’ve been impressed by their execution, their product and their pace, I’ve sometimes questioned their seemingly (at least in the past) maniacal focus on the U.S. market.
But constructive criticism aside, the fact that Xero announced this week that it has surpassed one million subscribers globally is an incredible milestone. And this isn’t some vaporous number that includes free trials and complimentary accounts — this is one million paying users across the globe. The company has doubled subscriber numbers in the past two years and added almost 300,000 customers in the past year alone. Xero is understandably proud of the milestone: