MileIQ

MileIQ is an American-based technology company that develops a mileage tracking and logging app.[2] The app uses automatic mileage tracking to calculate mileage while driving for business purposes that can then be used to report for reimbursement and potentially a tax deduction with the IRS, being attributed as the first mobile app to passively track such data. MileIQ has been compared to Fitbit for driving[3] and has been discussed in national business publications that include Fast Company, Fortune, and Forbes.[4][5][6]

On November 5, 2015 Microsoft announced that it had acquired MileIQ for an undisclosed amount.[7]

MileIQ
FoundedSeptember 2013
FounderDan Bomze
Chuck Dietrich
Headquarters,
ProductsMileIQ mobile app[1]
ParentMicrosoft
Websitewww.mileiq.com

History

MileIQ was founded by Dan Bomze, an entrepreneur and investor of numerous startups. He began collaborating with a small team to design software that would simplify mileage reimbursement.[8] Bomze obtained feedback from others who tracked mileage for reimbursement and began looking for a business partner knowledgeable with software development.[8] He was introduced to SlideRocket CEO and former Salesforce.com general manager Chuck Dietrich who became a founding partner in the company.[9] MileIQ was officially launched in the App Store in 2013, later becoming available for Android.[8][10]

Concur Technologies, a company that integrates third-party apps for users to file business reports, added MileIQ to its service offerings in early 2014.[11] The same year, MileIQ partnered with cloud accounting software company FreshBooks. The partnership allowed users of MileIQ to automatically import their driving data into their FreshBooks accounts.[12]

MileIQ received seed funding in amount of $3 million in late 2014, led by SV Angel, CRV, and Salesforce.com founder Marc Benioff. MileIQ added $11 million in funding in 2015 with a Series A round that included original investors as well as the addition of Trinity Ventures.[13]

Products and services

MileIQ offers an app named after the company ("MileIQ") which passively tracks and logs mileage of users. The app works in the background of a Smartphone, tracking and recording all driving activities. It uses artificial intelligence and machine learning to filter personal and business mileage based on time, day, and other factors. The app syncs with online mileage logs to document information obtained while driving.

The MileIQ app is available for free download on the App Store and Google Play.[3] After a one-time download and profile set-up, it works like an activity tracker and begins to log drives automatically, or allows for manual entry of travel.[4] The user swipes left or right at the end of each trip to indicate if the trip was for personal or business.[14] The free version of the app tracks up to 40 drives per month with a premium feature that allows for more.[3]

See also

References

  1. ^ Martin, Allison (28 February 2014). "Tax Hacks 2014: 13 Helpful Income Tax Apps". MoneyTalkNews. Retrieved 19 May 2015.
  2. ^ Cull, Ian (18 March 2015). "Mile IQ App Helps Drivers Track Mileage for Business Trips". NBC Bay Area. Retrieved 19 May 2015.
  3. ^ a b c Tipton, Adriana (26 February 2015). "MileIQ Is Like Fitbit For Driving; Here's Why". Tech News Today. Retrieved 19 May 2015.
  4. ^ a b Aamoth, Doug (10 April 2015). "Free App Friday: 5 Great Last-Minute Tax Tools". Fast Company. Retrieved 19 May 2015.
  5. ^ "Sharing-economy jobs make taxes uber-complicated". Fortune. 14 April 2015. Retrieved 19 May 2015.
  6. ^ Erb, Kelly Phillips (3 March 2015). "Taxes From A to Z (2015): A Is For Actual Expense Method". Forbes. Retrieved 19 May 2015.
  7. ^ Kim, Eugene (5 November 2015). "Microsoft just bought a startup that can automatically track how far you drive". Business Insider.
  8. ^ a b c "About us". MileIQ official website. Retrieved 19 May 2015.
  9. ^ Carney, Michael (29 January 2015). "MileIQ raises $11M to take the pain out of mileage tracking and put more cash in users' pockets". Pando Daily. Retrieved 19 May 2015.
  10. ^ Channer, Rory (9 March 2015). "6 apps to pack on your phone for business travel". Los Angeles Business Journals. Retrieved 19 May 2015.
  11. ^ Frank, Blair Hanley (8 May 2014). "Concur expands App Center, adds MileIQ, Trover and more than 30 other partners". GeekWire. Retrieved 19 May 2015.
  12. ^ Lapchuk, Lindsay. "FreshBooks and MileIQ partner to make tracking your miles a breeze". FreshBooks. Retrieved 19 May 2015.
  13. ^ "The Daily Startup: Latest Kickstart Seed Fund Looks to Boost Utah Startups". The Wall Street Journal. 30 January 2015. Retrieved 19 May 2015.
  14. ^ Weston, Liz (27 April 2015). "Financial records: What to keep, what to toss". Reuters. Retrieved 19 May 2015.

External links

Chuck Dietrich

Chuck Dietrich is an American entrepreneur and business executive who is the current CEO of MileIQ. Prior to MileIQ, Dietrich worked at Marc Benioff's Salesforce.com and was the CEO at SlideRocket before facilitating its sale to VMWare and its eventual divestment to ClearSlide. Dietrich is also a public speaker who has lectured and given speeches at events sponsored by Apple Inc., Google, GigaOM, SXSW Festival, Harvard University, and others.

Joe Belfiore

Joe Belfiore is a Corporate Vice President in the Experiences and Devices division at Microsoft. He manages the "Essential Products Group" and is responsible for the design and software product definition of Windows 10, Microsoft Edge, OneNote, Mobility Experiences for Android/iOS (MS Launcher, Edge, OneNote, Wunderlist/To-do, MileIQ etc.),and Microsoft News. His team also drives Microsoft's efforts in Education and in working with third-party developers who write applications for Windows and Microsoft 365.

Since 2013, he's been responsible for the Windows 10 product, and earned a number of awards for the flexible-design capability that enables Surface devices and other Windows PCs to act as 2-in-1s (PC and Tablet). Windows 10 earned him kudos as Stuff magazine's #16 innovator of the year for 2015 and in May 2013, he was recognized by Business Insider as the #10 Best Designer in Technology.A frequent speaker, Joe keynoted Microsoft's Build 2018 as well as appearing at many other Microsoft events. He's been a TED speaker, featured speaker at "The Future of Storytelling" Summit, Qualcomm's industry conference, and in 2010 he was interviewed by Walt Mossberg at All Things D conference.

List of mergers and acquisitions by Microsoft

Microsoft is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions. Established on April 4, 1975 to develop and sell BASIC interpreters for the Altair 8800, Microsoft rose to dominate the home computer operating system market with MS-DOS in the mid-1980s, followed by the Microsoft Windows line of operating systems. Microsoft would also come to dominate the office suite market with Microsoft Office. The company has diversified in recent years into the video game industry with the Xbox, the Xbox 360, and the Xbox One, as well as into the consumer electronics and digital services market with Zune, MSN and the Windows Phone OS.

The company's initial public offering was held on March 14, 1986. The stock, which eventually closed at US$27.75 a share, peaked at $29.25 a share shortly after the market opened for trading. After the offering, Microsoft had a market capitalization of $519.777 million. Microsoft has subsequently acquired over 225 companies, purchased stakes in 64 companies, and made 25 divestments. Of the companies that Microsoft has acquired, 107 were based in the United States. Microsoft has not released financial details for most of these mergers and acquisitions.

Since Microsoft's first acquisition in 1987, it has purchased an average of six companies a year. The company purchased more than ten companies a year between 2005 and 2008, and it acquired 18 firms in 2006, the most in a single year, including Onfolio, Lionhead Studios, Massive Incorporated, ProClarity, Winternals Software, and Colloquis. Microsoft has made ten acquisitions worth over one billion dollars: Skype (2011), aQuantive (2007), Fast Search & Transfer (2008), Navision (2002), Visio Corporation (2000), Yammer (2012), Nokia's mobile and devices division (2013), Mojang (2014), LinkedIn (2016) and GitHub (2018).

Microsoft has also purchased several stakes valued at more than a billion dollars. It obtained an 11.5% stake in Comcast for $1 billion, a 22.98% stake in Telewest for $2.263 billion, and a 3% stake in AT&T for $5 billion. Among Microsoft's divestments, in which parts of the company are sold to another company, only Expedia Group was sold for more than a billion dollars; USA Networks purchased the company on February 5, 2002 for $1.372 billion.

Microsoft mobile services

Microsoft Mobile Services are a set of proprietary mobile services created specifically for mobile devices, they are typically offered through mobile applications and mobile browser for Windows Phone, Android, iOS, BlackBerry, Nokia platforms, BREW, and Java ME. Microsoft's mobile services are typically connected with a Microsoft account and often come preinstalled on Microsoft's own mobile operating systems while they are offered via various means for other platforms. Microsoft started to develop for mobile computing platforms with the launch of Windows CE in 1996 and later added Microsoft's Pocket Office suite to their Handheld PC line of PDAs in April 2000. From December 2014 to June 2015, Microsoft made a number of corporate acquisitions, buying several of the top applications listed in Google Play and the App Store including Acompli, Sunrise Calendar, Datazen, Wunderlist, Echo Notification Lockscreen, and MileIQ.

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