Book Reviews | Gordon Campbell | News Flashes | Scoop Features | Scoop Video | Strange & Bizarre | Search

 


How Xero’s capital raising was reported

Yesterday's biggest New Zealand technology news story was Xero's NZ$180 million capital raising.

Local media outlets were all over the story. It made its way out of the tech ghetto into the mainstream business pages.

Behind the NBR's paywall Chris Keall reports Drury now ready for battle against giant Intuit in the US. The headline sums up the story's main point nicely. Keall goes on to discuss the possibility of a Nasdaq float. Businessdesk makes a similar point with Drury says Xero fund raising sends strong signal to rivals. In case you missed it the message to take the accounting as a service operation seriously. The Businessdesk version shows up in a number of places including The Sydney Morning Herald.

Out comes the business-as-war metaphor


The NZ Herald opts for a military metaphor with Xero share soar on 'war chest' sale headlining a story which reads a lot like the Businessdesk version. In Wellington the key point for Tom Pullar-Strecker who files for The Dominion-Post is that that money will mean extra jobs at Xero's headquarters in that city.  Pullar-Strecker also says the money is a vote of confidence in the company.

Radio New Zealand is concerned with the jobs angle although it raises a different point in Xero planning expansion - if it can find staff. It reports the company saying it will struggle to find the extra people in needs in Wellington. There's also a an audio clip of a Rod Drury interview with the story. TVNZ used the Fairfax-sourced Xero raises $180 million on its website. If there's a video clip, I can't find it.

Idealog puts Amanda Sachtleben onto the reporting job. She delivers in the shape of Xero lands $180 million investment to fundUS charge.

International reporting from Wellington


Bloomberg's international service has a story from Wellington reports Matthew Brockett Xero Heads for Record High After Capital Raise: Wellington Mover. Simple and straight to the point. Reuters' report written by Gyles Beckford is even more terse with just three short paragraphs. The story makes it to The Wall Street Journal in the shape of Lucy Cramer's Xero Gets NZ$180 Million From U.S, New Zealand Investors in Capital Raising.

There's a Ben Kepes report in Forbes magazine. He puts the news in Xero raises NZD180M To Fund US Expansion into context telling readers about Xero's competitors and its New Zealand roots.

Xero Techcrunched


Kepes turns up as a local expert to add depth to Ingrid Lunden's Xero Zeros In On Another $150M To Do Battle With Intuit In The World Of Online SMB Accounting Software at TechChrunch. 

Lunden's story has by far the longest headline, but it also contains a lot more depth than  any of the other overseas written reports. She includes the company's capital-raising history and puts Xero in a broader context. She also uses Kepes wisely getting him to explain: "Why public Xero is raising funding from VCs, it’s an interesting predicament that seems unique to markets like New Zealand".

Lance Wiggs is close to the business of raising tech company finance. On his blog he nails an important angle of the Xero story writing One more step towards Xero as a mainstream US stock. Wiggs has a different perspective from the journalists covering the story and his post is a must read if you want to understand how yesterday's news fits into the bigger picture.

In Australia ITWire's report appears to do little more than rewrite the press release. Much the same can be said for the Australian-written version of the story that turns up in New Zealand Reseller News. It also gets a run in ARN. Australia's Business Spectator takes the same approach.

Upstart accounting


Auckland-based Rob O'Neill tells ZDnet's international readers Accounting upstart Xero raises NZ$180m. In Australia CRN reports Tony Ibrahim gets the channel angle with NZ software company's $158m investment windfall. As he reports, there's a non-traditional channel behind Xero's stunning growth story.

Another well-written Australian report is at BRW where Caitlin Fitzsimmons reports Peter Thiel’s Valar Ventures on board as Xero raises another $159m to fuel global growth. Fitzsimmons' story is written for Australian investors hence the A$ value on the headline amount. The BRW story may be behind a paywall.

Lastly, UK-based The Registers used Australian editor Simon Sharwood to pen the alliterative Kiwi 'ccountancy cloud collects colossal cash casket. He ends his story writing: "If the new cash infusion helps Xero to repeat its trick of shaking up incumbent small business accountancy-ware players, plenty of Reg readers may soon find themselves being asked about migrations or implementations."

[digitl 2013]

digitl on Google+

© Scoop Media

 
 
 
 
 
Top Scoops Headlines

 

Werewolf: Pitch Perfect

Among his other blessings, Pope Francis has been a gift to the world of marketing studies. There can be few other examples where a leader has transformed the perception of an enterprise so thoroughly, but without making any discernible change to its core principles. More>>

ALSO:

US Politics: The Democrats Try To Engage With America (Again)

Venues are being rebooked to accommodate the thousands of people coming to listen to Vermont Senator, avowed socialist, and presidential aspirant Bernie Sanders talk about the redistribution of wealth. More>>

ALSO:

Gordon Campbell: On The Deal Over Iran’s Phantom Nukes (And Nuking Greece’s Future)

How could Iran continue to be expected to do all the military heavy lifting in the battle against Islamic State, while still being economically sanctioned and isolated for the threat that Teheran allegedly poses to the region? More>>

ALSO:

Werewolf 56 Out Now: Pope, Secret Evidence, Point Break, Democrats, Pigeons

Hi and welcome to the 56th edition of Werewolf, in which our cover story this month analyses the remarkable change of global public opinion towards the Papacy that Pope Francis has wrought - especially so, given the depths of unpopularity to which the Vatican had sunk during the reign of his predecessor… More>>

ALSO:

Gordon Campbell: On The Crisis In Greece

Greece, as the cradle of democracy, is getting no brownie points for actually practicing it. The decision by the Greek government to go back to the people for a mandate for the bailout terms being proposed by the Eurozone seems entirely appropriate. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
Top Scoops
Search Scoop  
 
 
Powered by Vodafone
NZ independent news