Intuit Confirms $12 Billion Deal To Buy Mailchimp (reuters.com) 18
It was teased earlier this month and now it's confirmed: Intuit said on Monday it would buy email marketing company Mailchimp for about $12 billion in a cash-and-stock deal. Reuters reports: The deal, expected to close by the second quarter of fiscal 2022, will be financed through cash on hand and new debt of about $4.5 billion to $5.0 billion, Intuit said. The deal for Atlanta-based Mailchimp, which operates a marketing platform for small and mid-market businesses, will help Intuit expand its product base for small businesses. California-based Intuit's products include TurboTax, a software that helps Americans file income tax returns, and QuickBooks, a cloud-based application that helps small businesses manage payments.
Also owns (Score:2)
Of note, Intuit also owns CreditKarma.
Seems like they are trying to just buy up anything that can be profitable in the future. Wonder if there is a strategic goal/roadmap they are going for with this purchase?
Re: (Score:2)
>Wonder if there is a strategic goal/roadmap they are going for
They purchased a spam company. They will be spamming. That is their goal.
Not a dime spent on development (Score:2)
You'd think that with all the money they have to spend on this they could have hired a few dozen programmers to add some really glaringly obvious features.
This just confirms (Score:2)
How much is that per spammable address? (Score:5, Insightful)
It's impossible to get rid of spam if spammers get paid billions.
mailchimp is a spammer (Score:1)
pretty much all email received from mailchimp is spam. intuit also spams, so it is a match made in heaven.
Holy shit (Score:3)
$12 billion. Just wow. I heard there was money in spam and this certainly proves it.
Mailchimp: "Now I'm the King of the Spammers" (Score:2)
"Oh, the junk mail VIP"
How does this happen? (Score:2)
How can a email spam blasting service be worth 12 billion dollars?
Re: (Score:2)
How can a email spam blasting service be worth 12 billion dollars?
Because they can integrate it with Quickbooks and Quickbooks online and then use it as a 'value add' to justify a price bump.
Or, they can buy Wix or Squarespace next and offer it a vertically integrated online presence / marketing / eCommerce solution.
But really, this is Intuit. Think of how much Oracle loves screwing over large businesses and government offices...now scale it down to 1-5 user Main Street businesses that are too small for Oracle but still need to write invoices and track cash flow. That's I
News at 11 (Score:1)
I'm not American (Score:3)
... but in solidarity with everyone I know there that suffers because of Intuit's lobbying of the US federal government to prevent you all from having simple, free tax software provided by the state, I look forward to moving as many services as I can off Mailchimp as soon as possible.
copy and paste summaries are lazy AF (Score:3)
They operate a spam service, you gormless fuckwad.
Inuits to buy Mailshimps ? (Score:1)
Marhta Stringfield (Score:1)