Cloud software company Xero reported it doubled its subscriber base in less than two years, with nearly 300,000 users added in the last year. CEO Rod Drury noted that five-and-a-half years ago the company had 50,000 subscribers.
In contrast, rival Intuit reported 1,876,000 users for its QuickBooks Online as of January 31, the end of its second fiscal quarter. That company added nearly 620,000 subscribers from a year earlier.
