Intuit to Acquire Mailchimp

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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Conversation 14 comments

  • sykeward

    13 September, 2021 - 6:55 pm

    <p>I’m glad that Intuit has a long history of super-high-quality software and has never, ever <em>ever </em>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!</p>

    • taswinfan

      14 September, 2021 - 1:54 am

      <p>I detect sarcasm lol. All I know is intuit is a greedy pig. </p>

      • MoopMeep

        14 September, 2021 - 8:22 am

        <p>When Tim Sweeney is done with Apple, maybe he can take on these guys next?</p><p><br></p><p>I wonder how much money they make with turbo tax? They charge a lot and seems like the software mostly remains the same year after year.</p>

  • matthewitt

    Premium Member
    13 September, 2021 - 7:15 pm

    <p>And here I thought that their missing was to just completely run mint.com into the ground.</p>

    • matthewitt

      Premium Member
      13 September, 2021 - 7:17 pm

      <p>And I meant to say mission.</p><p><br></p><p>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.</p>

      • taswinfan

        14 September, 2021 - 1:55 am

        <p>Diqus is the only commenting system that should be used on any site on the web. I don’t care if that is monopolistic. </p>

  • bettyblue

    13 September, 2021 - 8:10 pm

    <p>12 billion for Mailchimp??? </p>

    • Matthew Santacroce (InnoTechLLC)

      13 September, 2021 - 8:16 pm

      <p>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. </p>

      • taswinfan

        14 September, 2021 - 1:56 am

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

        • bettyblue

          14 September, 2021 - 8:09 am

          <p>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. </p>

    • max daru

      Premium Member
      14 September, 2021 - 4:04 am

      <p>It does seem like a lot for a company that has less than $1B in annual revenue. </p><p><br></p><p>I don’t see how it’ll integrate with their current products either. <span style="color: rgb(29, 34, 40);">"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.</span></p>

    • mattbg

      Premium Member
      14 September, 2021 - 1:59 pm

      <p>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%.</p><p><br></p><p>Did Intuit really become twice as valuable in the last 18 months or do we have issues with stock market valuations?</p>

  • gregsedwards

    Premium Member
    14 September, 2021 - 9:11 am

    <p>Next target…Survey Monkey.</p>

  • codymesh

    14 September, 2021 - 9:15 am

    <p>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.</p>

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