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Accounting software application From Wikipedia, the free encyclopedia
Outright was an accounting and bookkeeping software application that assists small businesses and sole proprietors with managing their business's income and expenses. In May 2022, GoDaddy announced the software would be discontinued on June 18, 2022.[1]
| |
| Company type | Private |
|---|---|
| Industry | Online Accounting, Bookkeeping Taxes, Schedule C |
| Founded | 2008 |
| Defunct | July 18, 2022 |
| Headquarters | Mountain View, California |
Key people |
|
| Owner | GoDaddy |
Number of employees | 16 (2014) |
| Website | www |
The software also provided means to organize and categorize expenses for filing a United States Schedule C tax return.[2][3][4] It was acquired by GoDaddy in 2012 for approximately $20 million and had been rebranded as GoDaddy Online Bookkeeping.[5]
Kevin Reeth and Ben Curren worked together at Intuit 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 of Quicken 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]
In 2009, the company raised a total of $7.7 million funding from Sequoia Capital, First Round Capital, Shasta Ventures and SoftTech 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 by GoDaddy.com.[13]
The software was designed as a software as a service model. It provided the following functions:
As of 2014[update], PCMag gave Outright Plus 2.5/5, praising its user interface; however they criticised its limited features, saying it would be ok for "a sole proprietor or very small business", and recommending QuickBooks Online for those seeking a fuller-featured solution.[21]
As of 2014[update], Tech Republic said Outright was "worth a look", comparing it to Intuit's Mint.com but cautioned that while it offered better tax-calculation facilities than Mint.com, it offered no way to actually pay taxes.[22] Small Business Trends recommended it for sole proprietors, finding it lacked features such as payroll necessary for businesses with employees.[23]
Macworld in 2010 scored it 3.5/5, saying "it was easy to get data into the application, but was missing some critical features that Outright said would be added at a later date."[24]
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