What do you consider to be your greatest success as an entrepreneur? Two year after launching, Mint was acquired by Intuit, makers of Quicken, QuickBooks and TurboTax. Eighty percent of Mint’s users see spending growth decline after using the site.
Are users’ spending habits changing? Yes, Patzer tells us.
According to Patzer, 90 percent of Mint’s users say they have changed their financial habits as a result of using the service. The deal eventually fell through and Intuit doubled down on its QuickBooks and TurboTax products, a move which has paid off as the company now is worth over $50 billion with operations around the world.Īlong the way Inuit has made key acquisitions to get it where it needed to be from its first acquisition, tax preparation software company Chipsoft in 1993, to its $12 billion acquisition of email marketing automation platform Mailchimp in September 2021.Īfter the news broke that Intuit has bought Mailchimp, we got curious.Since its 2007 launch, now tracks nearly $1 trillion in transactions and $485 billion in loans and assets for its more than 9 million users. Intuit went public in 1993 and just one year later Microsoft offered the rising software company, then worth around $2 billion, a buyout. However, it wasn’t long until Microsoft was approaching Cook and Proulx to buy their company. The newly-created, Palo Alto-based venture faced still competition out of the gates including Microsoft’s own Microsoft Money software. The company was founded in 1983 when Scott Cook left his job at Procter & Gamble after realizing the future of personal accounting wasn’t pen and paper, but instead ones and zeros, and teamed up with Tom Proulx - a programmer he met at Stanford. Best known for its tax preparation software used by millions of Americans each spring, Intuit is one of the nation’s largest financial software companies, but that’s not all it does.
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