Yesterday we got an info announced on September 13, that Intuit is acquiring MailChimp for approximately $12 billion in cash and stock advances. This acquisition will be definitely the largest made by intuit to date as the biggest one previously was Credit Carma for significantly less amount. Intuit is already one of the biggest players in business software world that makes QuickBooks, Mint, TurboTax ant other service, but this will help them to advance their goals of becoming an AI-driven expert platform as well as to become the center of small business growth and to disrupt the small business mid-market.
We think that the most of you already know what MailChimp is, but if not, MailChimp is Atlanta-based digital marketing and automation company with 1.200+ employees and pioneer in this industry. The company started out offering email marketing solutions before evolving u=into a global leader in customer engagement and marketing automation powered by a cutting-edge AI-drive technology stack. And what is important and non so usual is that MailChimp is one of bootstrapped startups founded in 2001.
By their words, together, Intuit and MailChimp will work to deliver on the vision of an innovative, end-to-end customer growth platform for small and mid-market businesses, allowing them to get their business online, market their business, manage customer relationships, benefit from insights and analytics, get paid, access capital, pay employees, optimize cash flow, be organized and stay compliant, with experts at their fingertips. Delivering on the promise to be the single source of truth, small and mid-market businesses will have the power to combine their customer data from MailChimp and QuickBooks’ purchase data to get the actionable insights they need to grow and run their businesses with confidence.