If I were to pick the time when the gloss came off New Zealand’s software as a service tech boom, it wouldn’t be last week with the collapse of Mako Networks. Latest New Zealand news New Zealand on the hunt for CTO to drive digital agenda Resilience to phishing attacks is failing to improve Xero reports record EBITDA as it prepares to delist from the NZX Spark NZ to launch Cat-M1 IoT network iPhone X New Zealand pricing It would instead be June 24 last year, the day travel management software developer Serko listed.Serko, the first tech listing of the year, issued shares in its IPO at NZ$1.10. On debut, they climbed to NZ$1.13 before slumping to NZ$1. They have barely traded above par since and were at 78 cents today.Serko’s timing was unfortunate to say the least. It is a minnow compared with cloud accounting software company Xero, shares in which were trading at nearly NZ$45 last March after a 2007 public offer at just NZ$1 a share.Xero’s shares tracked steadily down from that high to NZ$25.90 the day Serko listed. On the morning of its debut however, Xero shares fell to a nine month low of NZ$23 before… Read full this story
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