GoDaddy Acquires Outright.com
GoDaddy has acquired Outright, a cloud-based financial management application company for an undisclosed amount. Outright co-founder Ben Curren, CEO Steve Aldrich, and the company’s 24 staff members will be joining GoDaddy. Outright will continue to operate in Mountain View, California. GoDaddy, based in Arizona, will use that Mountain View as a hub to expand in Silicon Valley.
“We saw a shared passion about supporting small businesses and helping them grow,” stated GoDaddy CEO Warren Adelman in an interview with TechCrunch. “Of course, they came at it from a different angle but when we were together with them we really had a meeting of the minds. We viewed this as an extension of what we do at GoDaddy with small businesses.”
Outright’s customers will soon get access to GoDaddy’s suite of cloud-based services. And Outright’s services will not be changed. “Continue using it as you do today.”
Outright has 200,000 users and GoDaddy has 10.3 million customers. Outright was founded in 2008 and provides small business owners with community-enabled and data-driven management applications like a financial application that simplifies accounting tasks.
Outright had $7.5 million in funding, but they have not raised a new round since 2009. GoDaddy out-bid several other acquisition offers. They chose GoDaddy because of their “tremendous vision for the future.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry