So really, their revenue was $6 million or so. (Patzer says that people are applying for more credit cards these days than they used to, but are getting approved for fewer.)" Find out how Mint has greatly benefited from the 2009 acquisition by Intuit. He was tasked with leading Intuit’s entire personal finance division, which not only included Mint, but other tools such as TurboTax or Quicken. Since its start in 1983 with a single product, Mountain View-based Intuit has grown to an 8,000-employee company with QuickBook users in more than 100 countries and more than 4 billion in revenue. "About 10% to 15% of Mint users end up generating a lead. has built out multiple revenue streams from its free personal financial data-gathering tool. Quicken is the program that made Intuit, but it’s been left in the desktop dust by the trend to mobile and cloud computing for small businesses. So assuming Mint is spending $10-$15 million a year $170 million for the company is about right. Mint, also known as Intuit Mint (styled in its logo as intuit mint with dotted 't' characters in 'intuit' and undotted 'i' characters) and formerly known as, is a personal financial management website and mobile app for the US and Canada produced by Intuit, Inc. This is simplified greatly for discussion, but still useful. A common way of putting a price on a company is to take their (current revenue - operating costs) * X. Attention QuickBooks, Quicken, and Mint Users Fremont Bank migrated to a new online and mobile banking system on October 27th, 2020 and Quicken went live on November 4th, 2020.
The goal was to end 2009 with 3 million users so lets play a little conservative and give them 2 million. I have Quicken 2017 for Mac which has moved to a subscription model. Financial terms of the deal were not disclosed. Capital, a Miami-based private equity firm.
It's not so mind boggling that they got sold for so much if you look at their publicly admitted numbers.Īccording to this video the CEO of mint indicates they were making $30/user/yr and had some where between 1-3 million users. Intuit Intuit yesterday said it had sold its Quicken personal finance software unit to H.I.G.