Xero IPO
The secret isn’t secret any more. Xero has announced its IPO. The NZ Stock Exchange will be thrilled with this development - it will put some zing into the market, and offset some of the advances by its OTC rival Unlisted.
I expect the IPO will get a lot of uptake, particularly among young ICT people and fledgling ICT entrepreneurs. These are not your normal stock exchange investors. 
They’ll be attracted by CEO and founder Rod Drury’s reputation as a serial entrepreneur, his nice guy image, and his high profile participation in industry matters. IPO investment, especially hi-tech, is risky, which first-time investors don’t always appreciate, but Rod knows his hometown reputation is riding on this, and he’ll work hard to deliver for his new backers.
I’m sold on the Software as a Service model and I like the look of the product, the team, and Rod’s progress so far. So I’ll probably take up the offer, once I’ve had a chance to study it.
Good luck to Rod and the Xero team.
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May 12th, 2007 at 7:33 pm
Interesting float. Already some basic analysis of it at:
http://www.sharetrader.co.nz/topic.asp?TOPIC_ID=24522
Putting the PR aside, good luck to them.
May 16th, 2007 at 3:56 pm
[…] Xero IPO […]
May 16th, 2007 at 5:22 pm
[…] up in a new web bubble or got swayed by the big names involved Once the Xero IPO was announced, I wrote that I’d probably take up the offer, once I’d had a chance to study it. Well, I’ve done so, […]
May 28th, 2007 at 8:32 pm
I just bought some too, my very first time to buy shares and I put my last dollar in it. You snooze you lose!!!!!:)
February 26th, 2008 at 8:44 pm
[…] that wouldn’t necessarily be the conclusion for every business, e.g. Xero went for an IPO as its primary expansion capital funding mechanism. The point is that you […]