Intuit to Acquire Mailchimp

Posted on September 13, 2021 by Paul Thurrott in Cloud with 14 Comments

Financial software maker Intuit announced today that it will acquire email marketing firm Mailchimp for about $12 billion in cash and stock.

“We’re focused on powering prosperity around the world for consumers and small businesses,” Sasan Intuit CEO Goodarzi said. “Together, Mailchimp and QuickBooks will help solve small and mid-market businesses’ biggest barriers to growth, getting and retaining customers. Expanding our platform to be at the center of small and mid-market business growth helps them overcome their most important financial challenges. Adding Mailchimp furthers our vision to provide an end-to-end customer growth platform to help our customers grow and run their businesses, putting the power of data in their hands to thrive.”

Intuit says that the addition of Mailchimp to its roster will help it accelerate two of its previously-shared strategic Big Bets: to become the center of small business growth and to disrupt the small business mid-market. Mailchimp has over 13 million customers globally, 2.4 million monthly active users, and 800,000 paid customers.

“By joining forces with Intuit, we’ll take our offerings to the next level, leveraging Intuit’s AI-driven expert platform to deliver even better products and services to small businesses,” Mailchimp co-founder and CEO Ben Chestnut added. “This is an exciting new chapter for Mailchimp, our 1,200+ dedicated employees, and customers.”

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Comments (14)

14 responses to “Intuit to Acquire Mailchimp”

  1. sykeward

    I'm glad that Intuit has a long history of super-high-quality software and has never, ever ever bought another company and just trashed their products or anything like that. And with such a solid business plan consisting of *checks article* "an end-to-end customer growth platform" that *checks again* puts "the power of data in their [customers] hands to thrive", the future sure looks bright!

  2. matthewitt

    And here I thought that their missing was to just completely run into the ground.

    • matthewitt

      And I meant to say mission.

      As a side note, remember when you could edit comments? Thems were the days. Also remember when this site used Disqus for comments? Years later I’m still mourning the loss.

  3. bettyblue

    12 billion for Mailchimp???

    • Matthew Santacroce (InnoTechLLC)

      My feelings exactly. Seems like a huge price to pay for an email marketing product. Could have built a mail chimp clone for a fraction of that.

      • taswinfan

        But you cant build brand recognition that easily. I am assuming of course that mail chimp will maintain its name.

        • bettyblue

          I guess that is a matter of opinion. While I knew of Mailchimp and what they did, it certainly would not have used them over Constant contact or another. I would think they were worth maybe 2-3 Billion.

    • max daru

      It does seem like a lot for a company that has less than $1B in annual revenue.

      I don't see how it'll integrate with their current products either. "There is incredible power in combining the customer data and the purchase data, and we wanted to put the power of the data in our customers hands," said Sasan Goodarzi, Chief Executive at Intuit. I have no idea what that means. I guess they'll try to turn Mailchimp users into Quickbooks users.

    • mattbg

      What's kind of hilarious is that before the post-pandemic run-up in stocks, $12B would have been about 17% of the value of the company, but with today's prices it is around 7%.

      Did Intuit really become twice as valuable in the last 18 months or do we have issues with stock market valuations?

  4. gregsedwards

    Next target...Survey Monkey.

  5. codymesh

    aren't these the TurboTax guys? Their whole business is to lobby the government to maintain the fake "tax prep" industry, real cool and ethical guys, can't wait to see what they do with MailChimp.

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