July 21,2012 GoDaddy,a leading web hosting provider, made an announcement on Wednesday that it has acquired Outright, a cloud-based financial management application company providing financial management solution to small & medium businesses.
Outright provides a finance application that automates small-business accounting tasks by organizing them effectively and efficiently. The Web and mobile application imports data from popular marketplaces, such as PayPal, eBay, Amazon and Etsy, as well as bank accounts and credit cards.
With this acquisition, GoDaddy plans to help its SMB customers by providing an alternative to the frustrating and hard-to-maintain spreadsheets currently used by most small businesses.
“This is a great fit for our customer base,” said Go Daddy CEO Warren Adelman. “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.”
With this acquisition, Outright customers will soon have the benefit of Go Daddy’s rich suite of cloud-based services and world-class customer service.
“We believe our customers benefit because of the range of Go Daddy products and services designed explicitly for small business owners,” said Steven Aldrich, who has led Outright over the last year as CEO. Aldrich is now Go Daddy’s Senior Vice President of Applications. “Joining Go Daddy feels like a move that was just meant to be. We are combining forces with a company that has built a billion dollar business with the simple idea of providing great products and a brand of service that delights customers.”
GoDaddy has also revamped its websites by dividing all its products into three categories – Domain Names, Websites & Hosting, & Web Tools.
