Intuit, a global technology platform that makes TurboTax, QuickBooks, Mint, & Credit Karma, today announced that it has agreed to acquire Mailchimp, a world-class, global customer engagement & marketing platform for growing small & mid-market businesses.
The planned acquisition of Mailchimp is for approximately US $12 billion in cash & stock. With the acquisition of Mailchimp, Intuit will accelerate 2 of its previously-shared strategic Big Bets: to become the center of small business growth; & to disrupt the small business mid-market.
Intuit said together with Mailchimp, it would work to deliver on the vision of an innovative, end-to-end customer growth platform for small & mid-market businesses, allowing them to get their business Online, market their business, manage customer relationships, benefit from insights & analytics, get paid, access capital, pay employees, optimize cash flow, be organized & stay compliant, with experts at their fingertips.
“We’re focused on powering prosperity around the world for consumers & small businesses. Together, Mailchimp & QuickBooks will help solve small & mid-market businesses’ biggest barriers to growth, getting & retaining customers,” said Sasan Goodarzi, CEO of Intuit, in a written statement. “Expanding our platform to be at the center of small & 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 & run their businesses, putting the power of data in their hands to thrive.”
Mailchimp brings to Intuit technology at scale along with global customer reach. Founded in Atlanta, GA in 2001, Mailchimp began by offering email marketing solutions, & evolved into a global leader in customer engagement & marketing automation fueled by a powerful, cutting-edge AI-driven technology stack.
