Intuit Confirms $12 Billion Deal To Buy Mailchimp

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

[Szeraax]

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:

[TechyImmigrant]

>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

[RogueWarrior65]

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

[TuballoyThunder]

That Intuit has jumped the shark. I wonder if they will give themselves a good deal on sending out spam^H^H^H^H^H marketing emails?

How much is that per spammable address?

[TheNameOfNick]

It's impossible to get rid of spam if spammers get paid billions.

mailchimp is a spammer

[zeiche]

pretty much all email received from mailchimp is spam. intuit also spams, so it is a match made in heaven.

Holy shit

[cheesybagel]

$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"

[ac22]

"Oh, the junk mail VIP"

How does this happen?

[WaffleMonster]

How can a email spam blasting service be worth 12 billion dollars?

Re:

[Voyager529]

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

[RegistrationIsDumb83]

Overpriced tax software buys overpriced newsletter software.

I'm not American

[trawg]

... 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

[drinkypoo]

The deal for Atlanta-based Mailchimp, which operates a marketing platform for small and mid-market businesses

They operate a spam service, you gormless fuckwad.

Inuits to buy Mailshimps ?

[Soolyx]

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