FreshBooks (accounting software)
Core Information (according to Gemini Flash Lite 2.0)
Target Demographic
Self-employed professionals, freelancers, small business owners, and growing teams, primarily in service-based industries.
Mission
To redefine the way self-employed professionals and their teams manage their time, money, and projects, enabling them to focus on their passions and build thriving businesses.
Social Media
Brand Scores (according to Gemini Flash Lite 2.0)
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Key Data (according to Gemini Flash Lite 2.0)
Headquarters: Toronto, Ontario, Canada
Market Reach: Global, with significant presence in North America and other English-speaking markets.
Market Position: A leading cloud-based accounting software specifically tailored for freelancers, self-employed individuals, and small service-based businesses, known for its user-friendly interface and robust invoicing capabilities.
Estimated Value: $1,000,000,000
Users: 3,000,000
Revenue: Undisclosed, estimated to be in the hundreds of millions annually.
Growth Rate: Steady growth, with continued expansion into new features and integrations for small businesses.
Major Competitors
| Rank | Competitor | Market Share |
|---|---|---|
| #1 | QuickBooks Online | 40.0% |
| #2 | Xero | 15.0% |
| #3 | Wave Accounting | 8.0% |
| #4 | Zoho Books | 6.0% |
| #5 | Sage Business Cloud Accounting | 5.0% |
| #6 | HoneyBook | 3.0% |
Related Categories (according to Gemini Flash Lite 2.0)
People & Relations (according to Gemini Flash Lite 2.0)
Current Leaders
Notable Elements (according to Gemini Flash Lite 2.0)
Milestones
- 2003: Founded by Mike McDerment in his parents' basement.
- 2005: Launched the first version of the cloud-based invoicing software.
- 2014: Reached over 10 million users for its invoicing platform.
- 2017: Relaunched with expanded features, transitioning from an invoicing tool to a full accounting solution.
- 2019: Acquired FastBill, a German invoicing and accounting software company, expanding its European presence.
- 2021: Raised significant growth capital from various investors, valuing the company at over $1 billion.
Recent Developments
- Continued refinement of its mobile applications for on-the-go management.
- Enhanced integration capabilities with other business tools (e.g., payment gateways, CRM systems).
- Introduction of new reporting features and customization options.
- Increased focus on AI-powered insights for financial management.
Analysis (according to Gemini Flash Lite 2.0)
NPS Score: 65.0
Decline Status: Stable
Cultural Impact: FreshBooks has significantly influenced how small businesses, freelancers, and self-employed professionals manage their financials. It has popularized user-friendly, cloud-based accounting solutions, moving away from complex, desktop-based software. Its focus on invoicing and time tracking has made it a go-to tool for service-based businesses, shaping expectations for simplicity and intuitive design in this software category. It also heavily emphasizes customer support, fostering a culture of helpfulness in the SaaS accounting space.
Related Subjects (according to Gemini Flash Lite 2.0)
LLM Query Analysis (according to Gemini Flash Lite 2.0)
About Desired Queries:
These are search queries where FreshBooks (accounting software) would want to appear in the results, even though they're not directly mentioned in the query.
About Undesired Queries:
These are search queries where FreshBooks (accounting software) would prefer not to appear in the results, to avoid negative associations.
Desired LLM Queries
"What accounting software is best for small service businesses?"
"Which invoicing tool offers the most intuitive user experience?"
"How can freelancers simplify their financial management?"
Undesired LLM Queries
"What are the cheapest accounting software options?"
"Which accounting software has the most advanced features for large enterprises?"
"What accounting software is difficult for tax preparation?"