Xero CEO frustrated with Aussie investors

Rod Drury, ceo of New Zealand-based cloud accounting software firm Xero (ASX: XRO), is frustrated with local investors. The reason? He believes they don’t understand software companies like Xero.Although listed on the New Zealand Exchange (NZX: NZX) since 2007 and the ASX (ASX: ASX) since 2012, Xero has found it easier to raise expansion capital from foreign investors such as Peter Thiel, co-founder of PayPal (NASDAQ: PYPL) and also an early investor in Facebook (NASDAQ: FB).I can’t speak for other local investors but it’s likely that a lot of them do understand software companies. Instead, I’d suggest Xero’s valuation –...

Rod Drury, ceo of New Zealand-based cloud accounting software firm Xero (ASX: XRO), is frustrated with local investors. The reason? He believes they don’t understand software companies like Xero.

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