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“Longer term, there’s huge potential for Mint’s technology and user-interface design on Intuit’s banking and credit union division,” he said.
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Eventually, he said, he hoped could forge partnerships with financial institutions looking to upgrade their online and mobile-banking services, something Intuit already does through its Digital Insight subsidiary. He said that his first priority would be integrating some of Mint’s features into Intuit’s products. After the transaction is complete, will move its operations into Intuit’s offices.Īaron Patzer, ’s founder and chief executive, will become general manager of Intuit’s personal finance group and oversee the operations of, Quicken and Quicken Online. Both companies are based in Mountain View, Calif. The acquisition is subject to regulatory approval, but the companies said they hoped to close the deal by the end of the year. “We were much better served by having Mint and its leadership as part of Intuit instead of trying to build it separately,” said Dan Maurer, senior vice president of Intuit’s consumer group. To date, has taken more than $31 million in venture backing, from investment firms like Shasta Ventures, First Round Capital, Benchmark Capital and the angel investor Ron Conway.Īlthough and Quicken Online are rival services, the companies say they will continue to operate the two sites independently, and incorporate some of Mint’s features into Intuit’s services. by Mint 4 Updated Cryptocurrency is a digital form of money that can be used online to purchase goods and services, as well as a strategic financial investment. “As Mint’s product grew in popularity, it became clear it wasn’t a question of if Intuit would acquire them anymore, but one of when and how much,” said Jeff Clavier, founder of SoftTech VC, an early-stage investment company that backed Mint. Our Mint app review will help you learn more about the app, its features, cost and ratings to determine if it’s right for.
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The company says it has 1.5 million users tracking nearly $50 billion in assets and $200 billion in transactions. Founded in 2006, Mint was purchased by the software company Intuit in 2009.
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Mint, which unveiled its free online services in September 2007, quickly became popular as more people turned to the Web to create budgets and manage their finances. “Consumer awareness isn’t huge but it’s increasing,” Ms. It is a clear indication that online personal-finance sites are starting to have an impact, said Stessa Cohen, research analyst at Garter Research. In June, Microsoft discontinued sales of its boxed finance software, Microsoft Money Plus, but consumers can still find many similar functions on Microsoft’s MSN Money Web site.
“These sites appeal to the iPhone audience.”
Younger, Web-savvy users “aren’t likely to sit down nightly and enter in a bunch of financial information online,” he said. “Quicken seems like something your dad uses,” Mr.
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