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In 2006, Xero was founded by Rod Drury and Hamish Edwards in Wellington, where Xero Limited's headquarters are still located. The company was originally called Accounting 2.0.By 2017, Xero had more than one million customers globally, and the following year, it had more than one million subscribers in Australia and New Zealand. In April 2018, Steve Vamos was appointed as CEO, replacing Rod Drury who remained on the board as a non-executive director. Vamos announced in November 2022 that he would step down in February 2023 and be replaced by Sukhinder Singh Cassidy, a former executive of Google and StubHub.In 2019, the company announced it had over two million global subscribers and three million subscribers in September 2021.
