Intuit buys Mailchimp for 12 billion dollars. The big surprise in the world of Digital Marketing, a sector plagued by major players and led by the giant Mailchimp when it comes to Email Marketing and the digital presence of SMEs.
Intuit to buy Mailchimp for 12 billion dollars
Intuit, the maker of one of the most well-known accounting programs in the world, has announced its intent to acquire Mailchimp for about $12 billion, including cash and stock.
The deal will be finalized by the end of 2022, making it the largest in Intuit’s history, following the purchase of the personal-finance portal Credit Karma, which it bought months ago for nearly $7 billion.
The two companies began discussing the purchase more than a year ago, and have now gone public.
According to Reuters, the objective of buying a digital marketing platform such as Mailchimp is to be able to include information and functions to track expenses in its Quickbooks platform.
They’ll be able to cross-reference consumer data with purchase data utilizing Mailchimp’s ability to track emails, thanks to this integration.
Mailchimp was founded in 2001, although it was in 2007 when they started their email marketing service for small businesses. Today it has more than 12 million customers worldwide, with $800 million in revenue in 2020.
It will keep functioning as Intuit’s software, including the renowned TurboTax (helps file income tax returns) and QuickBooks (manages finances), after the acquisition, since most of Mailchimp’s customers are located outside of the United States.