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Outright

From Wikipedia, the free encyclopedia
Accounting software application
For the baseball transaction, seeOutright (baseball).
Outright
Outright logo
Company typePrivate
IndustryOnlineAccounting,BookkeepingTaxes,Schedule C
Founded2008 (2008)
DefunctJuly 18, 2022 (2022-07-18)
HeadquartersMountain View, California
Key people
  • Kevin Reeth
  • (Co-Founder)
  • Ben Curren
  • (Co-Founder)
  • Steven Aldrich
  • (CEO)
OwnerGoDaddy
Number of employees
16 (2014)
Websitewww.outright.com[dead link]

Outright was anaccounting andbookkeeping software application that assists small businesses andsole proprietors with managing their business's income and expenses. In May 2022, GoDaddy announced the software would be discontinued on June 18, 2022.[1]

The software also provided means to organize and categorize expenses for filing a United StatesSchedule C tax return.[2][3][4] It was acquired byGoDaddy in 2012 for approximately $20 million and had been rebranded as GoDaddy Online Bookkeeping.[5]

History

[edit]

Kevin Reeth and Ben Curren worked together atIntuit in 2006 and then later at a web-application firm called Esomnie LLC. As a Product Manager and Software Engineer respectively, the two were heavily involved in the development and marketing ofQuicken products.[citation needed]

Curren and Reeth had become increasingly frustrated with the complexity of doing taxes for small businesses, so in 2008 they founded a company and website called BootStrap.[6][7][8] The Website was renamed Outright just a few months after launch, though it continues to be operated by BootStrap, Inc.[9]

The BootStrap website existed for only a few months before being renamed Outright

In 2009, the company raised a total of $7.7 million funding fromSequoia Capital,First Round Capital,Shasta Ventures andSoftTech VC among others.[7][10][11] Today, the website manages $1.2 billion in transactions from small businesses and independent contractors.[8][12]

On July 17, 2012, Outright.com announced in an email to all customers that they had been acquired byGoDaddy.com.[13]

Functions

[edit]

The software was designed as asoftware as a service model. It provided the following functions:

References

[edit]
  1. ^Steiner, Ina."eBay Sellers Desperate after GoDaddy Bookkeeping Ends Support".eCommerceBytes. Retrieved28 May 2022.
  2. ^Meece, Mickey (2009-08-22)."On to Plan B: Starting a Business".The New York Times.ISSN 0362-4331. Retrieved2023-03-09.
  3. ^abBy Kathy Yakal, PC Magazine Review of Outright.Accounting & Tax. Retrieved March 25, 2010.
  4. ^By Karen Klein, BusinessWeek. “Advice for Tax Procrastinators, 2009.” Retrieved March 29, 2010
  5. ^"GoDaddy Acquires Outright, Establishes Mountain View Office".TechCrunch. 18 July 2012. Retrieved2021-12-12.
  6. ^Outright.com Home Page. Retrieved March 25, 2010.
  7. ^abcTy McMahan (2009-11-16)."Outright Lends A Hand To Small Businesses With $5.5M Funding".Wall Street Journal Blog. blogs.wsj.com. RetrievedMarch 25, 2010.
  8. ^ab"Bootstrap launches financial management site for businesses that don't like financial management".VentureBeat. 2008-07-09. Retrieved2023-03-09.
  9. ^Ben Kepes, Cloud Ave (16 February 2009)."Accounting 2.0 at CloudAve".cloudave.com. RetrievedFebruary 16, 2009.
  10. ^By Paul O’Brien, Outright Blog. “Outright Raises $5.5M with Sequoia Capital.” Retrieved March 25, 2010
  11. ^"Outright.com launches with $2M funding".www.bizjournals.com. Retrieved2023-03-09.
  12. ^Reagan D. Lynch."Simple, Non-cluttered, Accessible Bookkeeping".outright.com. RetrievedMarch 25, 2010.
  13. ^"GoDaddy Acquires Outright, Establishes Mountain View Office". TechCrunch. July 18, 2012.
  14. ^abBy Leena Rao, TechCrunch. “Outright Tracking More Than $1 Billion, Launches W-9 Management Service.” Retrieved March 29, 2010
  15. ^By Howard Greenstein, Inc. “Small Business Web: Leverage and Cooperation.” Retrieved March 29, 2010
  16. ^Abate, Tom."Outright software tools free to freelancers".SFGATE. Retrieved2024-03-14.
  17. ^By Scott Blitstein, WebWorkerDaily. “Outright Teams Up With PayPal & Expensify to Ease Your Bookkeeping Woes.” Retrieved June 04, 2010
  18. ^Outright News “Collect and Manage W-9 Forms Online; Free.” Retrieved June 04, 2010
  19. ^By Kevin Reeth, Outright Blog. “One complete picture.” Retrieved August 11, 2011
  20. ^By Vangie Beal, Ecommerce-Guide Essentials. “eBay Integrates Outright Bookkeeping Solution.” Retrieved March 29, 2010
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