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Xero hits 1m mark

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Xero recently passed one million subscribers on its global cloud accounting platform, meaning it has doubled subscriber numbers in less than two years and has added nearly 300 000 subscribers in the last year alone.

The online accounting platform Xero has announced it recently surpassed one million subscribers worldwide on its global cloud accounting platform.

Xero has doubled subscriber numbers in less than two years and has quickly grown to become a global accounting platform leader, adding nearly 300 000 subscribers in the last year alone. Xero launched in South Africa in 2016, and has grown rapidly since then.

“Five-and-a-half years ago, at 50 000 subscribers, we asked shareholders to imagine our business at a million subscribers,” Xero CEO and Founder, Rod Drury said. “We invested for the long term to build a business and ecosystem to achieve those numbers. It’s very satisfying to deliver on that promise.

“Starting around ten years ago with our first lines of code, it’s amazing to see the global community who have built businesses on our platform,” Drury said.

Accounting has gone global

With subscribers in more than 180 countries, many are now doing business across borders – not just in their home countries. Cloud technology has reshaped trade over the last decade, and we’re seeing the rise of truly global small businesses that have grown up without the need to operate within the confines of a single country’s borders.

“Only a global platform – on a single global code base like Xero – can offer the opportunity for small businesses and their advisors to expand their businesses offshore, connect to banks in multiple countries and use Xero’s technology and payment partnerships with Google, Apple, Square, Paypal, Stripe and others to do business seamlessly all over the world,” Drury said. “It sets in motion a global network effect as small businesses expand their trade between countries.”

“Many of the 100,000 business advisors who work with their clients on Xero have small businesses that import or export. The increasingly global nature of small business means that, like Airbnb, Amazon, and Facebook, accounting platforms must also be global.  Surpassing one million subscribers positions us as a leading global cloud accounting platform. We’re just getting started.”

Ready for the AI generation

The next wave of accounting innovation is Artificial Intelligence (AI) and machine learning. Xero completed its complex migration to Amazon Web Services, consolidating the platform on a powerful set of technologies that help unlock the power of our vast connections and data. In the last 12 months, Xero has processed more than R10.9 trillion of global economic activity, giving it a unique and high-value dataset to drive insights

and  machine learning.

Xero’s machine learning system can now code invoices for small businesses, categorize expenses and recommend accounting practices to a potential client, automating the busy work of accounting, freeing advisors up to focus on providing clients with expert advice.

“Machine learning and automation will open up the next phase of innovation in accounting, driving a transition in the industry bigger than the move to the cloud did ten years ago. With technology doing more of the time-consuming, data entry work, we will see more accountants take on advisory and virtual CFO roles within the small businesses they support,” Drury said. “Rather than just keying in data, they’re interpreting the output – and with the power of machine learning, they’ll provide higher level advisory services that help clients feel in control of their finances which is a key human function that cannot be replaced.”

Cloud innovation drove Xero’s rise to help more than one million subscribers. Machine learning and automation will be the wave which enables us to scale to service millions of small businesses and advisors around the world.

“Xero has evolved from the market challenger into one of the leading global cloud accounting platforms. The first challenger to surpass one million subscribers is a significant milestone for cloud accounting and validation for an industry which didn’t exist a decade ago. Together with our accounting partners and small business owners, we’re so excited to lead the industry innovation charge.”

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Naspers feeds into Latin America’s tech funding

Movile will get $400m funding from the SA-based technology investment giant for iFood expansion.

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Movile is to receive US$500-million in funding for iFood in the largest tech funding in Latin America to date. Naspers and Innova Capital have committed to invest $400m of new capital into Movile to use for further investment in iFood, the leading online food delivery platform in Latin America, of which Movile is a majority shareholder.  

Movile and Just Eat have already invested $100m in iFood during 2018. iFood’s extraordinary growth and the vast market opportunity in Brazil and more broadly in Latin America has driven the increased investment commitment. 

iFood’s monthly orders in Brazil have fed more than 9 million customers in the past twelve months, 16 times the nearest online competitor, in terms of daily active users. This means its partner restaurants are serving the biggest population of consumers ordering food in Latin America. iFood has 50 000 restaurant partners and uses 120 000 couriers. 

The increased investment commitment from Naspers, Innova and Movile is expected to accelerate growth, speed up product development and innovation, and fuel geographical expansion for iFood across the region. The company’s vision is to gain deeper knowledge of consumers through artificial intelligence technology, to personalise the food delivery experience – and at a reduced price, because of improved logistics. 

“Movile is very fortunate to have long-term investors who have supported us for the past decade to help achieve our goal of transforming the lives of more than one billion people and thus we are able to continually back iFood to ensure it remains the market leader,” said Fabricio Bloisi, Movile CEO. 

“Our entire ecosystem of companies is focused on allocating resources and energy towards our one billion people goal. iFood is leading the way, fueling unprecedented growth through its innovative technology platform, providing consumers, couriers and restaurants with the best experience in food ordering and delivery.”  

Larry Illg, CEO of Naspers Ventures, said: “iFood has established itself as a technology leader in Latin America and its success stacks up with some of the most innovative food companies that are leading regions in North America, Europe and Asia.  We have been impressed by their execution in Brazil and remain committed to backing the company on its path to transform the entire food chain to better serve consumers.” 

Online food delivery is experiencing massive expansion globally. According to latest reported results, Grubhub grew daily average orders 39% year-on-year, reaching over 416 000 orders per day. In Latin America, iFood has reached 390 000 orders per day just in Brazil in the last week of October, compared with 183 000 in October 2017, representing 109% growth.

iFood CEO Carlos Moyses said: “We want our consumers to have an amazing delivery experience from the moment they order their food to the moment it arrives. Our partners – the restaurants and delivery fleet – make that happen by living our purpose of improving people’s lives using our services.

“iFood exists for our customers and, with an increased investment commitment of this size, we will be able to build out our state of the art technology platform, and increase our courier and restaurant partners to even better serve our current and future customers in Latin America.”

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Hide your sheep, Spyro is reigniting

Spyro, the iconic purple dragon that entertained living rooms worldwide in the late ‘90s, is making a return with the release of Spyro Reignited Trilogy.

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Spyro Reignited Trilogy introduces players to a fully remastered game collection with a re-imagined cast of characters, animations, environments, new lighting and recreated cinematics—all inHD.  Now fans can explore more than 100 lush environments filled with new detail, that brings the Dragon Realms and Avalar to life . The trilogy is available for PlayStation 4, PlayStation 4 Pro and the family of Xbox One devices from Microsoft, including the Xbox One X.

South African distributors Megarom provided the followjng information:

In Spyro Reignited Trilogy, lead developer Toys For Bob is giving fans an all scaled-up version of the original three Spyro games that started it all, Spyro the Dragon, Spyro 2: Ripto’s Rage! and Spyro: Year of the Dragon, but with a modern-day feel that makes it fresh and fun for today’s player. Adding to the fun, voice actor Tom Kenny is returning to the franchise as the voice of Spyro in all three remastered games. Longtime fans will be treated to Toys For Bob’s reimagined version of the classic soundtracks, in addition to an all-new title-screen theme from original soundtrack composer Stewart Copeland.

Additionally, the new game brings an in-game audio feature that allows players to switch between the original and the newly remastered soundtracks, for those who want a more classic gameplay experience. Players can simply fly in to the “options menu” at any time during gameplay, unleash their preferred nostalgic or scaled-up groove, and glide right back into the Spyro action without losing saved data.

“It’s been a real pleasure to bring back one of most iconic video game characters of all time through the Spyro Reignited Trilogy,” said Paul Yan, Co-Studio Head at Toys For Bob. “We’ve poured everything we’ve got into making sure every detail was done right to deliver a great Spyro experience for fans. We hope players will have as much fun revisiting the Spyro world and characters as we did remastering them.”

In the road up to the official release of Spyro Reignited Trilogy, Activision Publishing, Inc., a wholly owned subsidiary of Activision Blizzard, created a first-of-its-kind, life-sized, fire-breathing and talking Spyro Dragon drone. The drone took off from “Stone Hill” castle near New York City, spreading his wings across the U.S. to explore the cities and iconic landscapes that resemble levels and themes from the original Spyro games. As part of the tour, the Spyro drone chased sheep, fired up some BBQ and delivered an early copy of Spyro Reignited Trilogy to fellow O.G. and entertainment icon, Snoop Dogg. Highlights from the Spyro drone’s delivery to Snoop Dogg can be found here.

“Fans have been asking Activision to bring Spyro back for some time now. The response to Spyro Reignited Trilogy has been great thus far, and we’re absolutely thrilled that we’re able to continue to reimagine and reinvigorate some of the most iconic videogames and characters of all time with our remastered experiences,” said Steve Young, Chief Revenue Officer at Activision. “With this year being the 20th anniversary of Spyro, there’s no better time to pay homage to everyone’s favorite purple dragon.”

The Spyro community is invited to geek out and elevate their fandom even further through the elite global partnerships from the Activision Blizzard Consumer Products Group (ABCPG). Collaborations with Funko, Traly Pins, Exquisite Gaming, KidRobot, USAopoly, Trends International, Rubber Road, and Changes have created new avenues for fans to share their love for the return of Spyro, the original roast master. Spyro consumer products across apparel, collectibles, figurines and more are now available at retailers worldwide. Fans can also take advantage of the GameStop exclusive Spyro TOTAKU Collection.

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