GoDaddy Acquires Cloud-Based Financial Management Company Outright
GoDaddy purchased cloud-based financial management application company Outright today for an undisclosed amount. Outright co-founder Ben Curren, CEO Steven Aldrich and their entire team will be joining GoDaddy, the world’s largest web hosting provider. Outright customers, over 200,000 strong, will soon “have the benefit of Go Daddy’s rich suite of cloud-based services” as Outright joins the larger company.
“Your Outright service will remain the same,” Aldrich wrote in bold on Outright’s blog today. “Continue using it as you do today.”
GoDaddy isn’t the most obvious acquirer for Outright, which had $7.5M in funding but hadn’t raised since 2009, but they both target small business owners and the acquisition could signal GoDaddy’s expansion into a wider range of services.
“This is a great fit for our customer base,” GoDaddy CEO Warren Adelman said in a press release. ”Outright.com has built easy-to-use software that streamlines the work involved with running a start-up or small business … the taxes, income, profits, expenses and other financial data that can be an administrative distraction for business owners. As an entrepreneur, if you’re not worried about managing finances for hours every month, you can devote more time to building your business. We see this as an ideal extension for our suite of small business products, which are all geared toward helping businesses grow bigger.”
“We had a lot in common with Go Daddy from the start,” Curren said in the release. “We both prioritize customer support, value-rich technology and entrepreneurship. We are both committed to helping small businesses grow. We believe the small business financial management market is ripe for innovation because it has historically been under-served and over-priced.”
Outright, founded in 2008, provides small business owners with ” simple, data-driven and community-enabled business management applications,” like a finance app that automates accounting tasks.
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Outright.com provides a simple online bookkeeping application.
Outright is designed for very small businesses – entrepreneurs, self employed folks, online sellers, and other people who have to file a Schedule C. It automatically imports all of your data from Amazon, eBay, Etsy, PayPal, banks, and credit cards so that you can track your income and expenses, see how your business is doing, and be organized at tax time. It has an online version and an iPhone app, which…
Go Daddy is a domain registrar and web hosting company. Additionally they sell other domain related services.
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