Outright
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Outright
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| Type | Private |
|---|---|
| Industry | Online Accounting, Bookkeeping Taxes, Schedule C |
| Founded | 2008 |
| Headquarters | Mountain View, California |
| Key people | Kevin Reeth, Co-Founder Ben Curren, Co-Founder Steven Aldrich, CEO |
| Website | Outright.com |
Outright is an accounting and bookkeeping application that assists small businesses and sole proprietors with managing their business income and expenses. It also provides them with a means to organize and categorize expenses for filing a Schedule C. [1][2][3]
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Contents
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History
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.
Kevin and Ben had become increasingly frustrated with the complexity of doing taxes for small businesses, so in 2008 they founded a company and website called BootStrap.[4][5][6] The Website continues to be operated by BootStrap, Inc. though the site was renamed to Outright just a few months after launch.[7]
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.[5][8][9] Today the website manages $1.2 billion in transactions from small businesses and independent contractors.[6][10]
Items & Services
Outright.com tracks and manages business income, expenses and tax liabilities. Users input their business account information and Outright structures that information into reports and prepares it in a way that can assist with tax submissions.[11] The online-only tool does not involve any software installations and can import financial information from PayPal, Freshbooks, oDesk and other financial management tools.[2][5][11][12][13][14][15]
The website has the following features:
- Reports income and expenses for sole proprietors filing a Schedule C or 1040
- Manages W-9s for paying contractors, freelancers and anyone outside of company staff for 1099 filings[16]
Outright also has an eBay Bookkeeping Selling Manager App that imports transaction data from eBay and PayPal accounts to help eBay sellers manage their finances.[17][18]
Competition
The market for small business bookkeeping is crowded with numerous competitors, suchç as QuickBooks, Bill.com and NetBooks.[6] Comparatively, Outright’s website is focused on “a single word – simplicity.”[6]
External links
- [1] Outright Website]
- [2] Outright Blog]
- Outright Community
- Outright Support
- Outright Education
References
- ^ By Mickey Meece, New York Times. On to Plan B: Starting a Business. Retrieved March 25, 2010.
- ^ a b By Kathy Yakal, PC Magazine Review of Outright. Accounting & Tax. Retrieved March 25, 2010.
- ^ By Karen Klein, BusinessWeek. “Advice for Tax Procrastinators, 2009.” Retrieved March 29, 2010
- ^ Outright.com Home Page. Retrieved March 25, 2010.
- ^ a b c By Ty McMahan, Wall Street Journal Blog. Outright Lends A Hand To Small Businesses With $5.5M Funding. Retrieved March 25, 2010.
- ^ a b c d By Anthony Ha, VentureBeat. “Bootstrap launches financial management site for businesses that don’t like financial management.” Retrieved March 29, 2010
- ^ By Ben Kepes, Cloud Ave. “Accounting 2.0 at CloudAve.” Retrieved February 16, 2009.
- ^ By Paul O’Brien, Outright Blog. “Outright Raises $5.5M with Sequoia Capital.” Retrieved March 25, 2010
- ^ By Silicon Valley/San Jose Business Journal. “Outright.com launches with $2M funding.” Retrieved March 29, 2010
- ^ By Reagan D. Lynch, Contributor to Outright Blog. “Simple, Non-cluttered, Accessible Bookkeeping.” Retrieved March 25, 2010
- ^ a b By Leena Rao, TechCrunch. “Outright Tracking More Than $1 Billion, Launches W-9 Management Service.” Retrieved March 29, 2010
- ^ By Howard Greenstein, Inc. “Small Business Web: Leverage and Cooperation.” Retrieved March 29, 2010
- ^ By Tom Abate, San Francisco Chronicle. “Outright software tools free to freelancers.” Retrieved March 29, 2010
- ^ Outright.com partners. Retrieved March 29, 2010.
- ^ By Scott Blitstein, WebWorkerDaily. “Outright Teams Up With PayPal & Expensify to Ease Your Bookkeeping Woes.” Retrieved June 04, 2010
- ^ Outright News “Collect and Manage W-9 Forms Online; Free.” Retrieved June 04, 2010
- ^ By Kevin Reeth, Outright Blog. “One complete picture.” Retrieved August 11, 2011
- ^ By Vangie Beal, Ecommerce-Guide Essentials. “eBay Integrates Outright Bookkeeping Solution.” Retrieved March 29, 2010
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