Cloud-based accounting software provider Xero has announced it has signed up 100,000 paying customers. A couple of hundred shareholders gathered in Wellington for the company's annual meeting, to hear from chief executive and founder Rod Drury whose own personal stake in Xero is now worth just over $100 million.


He personally greeted shareholders at the door. Xero had 45,000 paying customers when it held its annual meeting last year, which it took five years to sign. It signed the next 50,000 in 10 months. Annualised committed monthly revenue has grown to $34.5m, up from $25.5m at March 31, of which 57 per cent was earned from overseas. Xero said it would consider a dual-listing on the ASX to make it easier for Australian partners and customers to purchase shares.