Have any Online Accounting Software companies closed?

[Rich Shepard]

On Sun, 15 Jan 2017, Dr. David Kirkby (Kirkby Microwave Ltd) wrote:

> ... which is online based - you access it with a web browser, rather than 
> have the software on your own computer. I'm not too keen on this idea, as
> that company can go to the wall, and you have your data in their
> proprietary format.
>
> Are there any examples of such companies going broke or otherwise closing?
> What problems did it cause people?

David,

   Take a look at <http://www.krebsonsecurity.com/> and read Brians' post
from Jan. 9th: "Krebs’s Immutable Truths About Data Breaches."

   FWIW, my accountant told me that she was forced by one of the proprietary
tax preparation software vendors she must use to work through the on-line
Office365, and lost data as well as having client data lost.

   I keep no data on the 'cloud'; it's all local where it can be secured.

Rich