Xero CEO Rod Drury Discusses Monchilla Acquisition & U.S. Strategy

Rod Drury, CEO of cloud accounting software company XERO, discusses his company's recent $4.1 MM acquisition of Seattle-based online payroll company Mochilla, as part of a bid to increase Xero's US market share. New Zealand-based XERO has seen strong growth in the Australian and New Zealand markets, and hopes to replicate that success in the United States. In an exclusive interview with TheStreet's Janet Al-Saad, Drury explains XERO's U.S growth strategy, its cloud product focus, and why it's betting it can give larger Stateside competitors serious competition.