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Peter Thiel Puts Huge Money Into Hot Enterprise Software Company Xero

Nicholas Carlson

Peter Thiel, the former PayPal CEO who is also famous for making billions investing in Facebook during it's early days, just made another huge bet.

According to TechCrunch, He's teamed up with a handful of investors to put ~$50 million into accounting software for small businesses company Xero.

Xero – from New Zealand, where Thiel is an active investor –wants to nuke Intuit's Quickbook business with a product you can access over the Internet.

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