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.”