Intuit may acquire email marketing software company Mailchimp for more than $10 billion, though there's no guarantee an actual deal will be inked, according to Bloomberg. Moreover, additional companies appear to be interested in a Mailchimp acquisition, the report said.
Mailchimp is a bootstrapped (i.e., self-funded) business that grew to 11 million active customers serving a total audience of 4 billion as of 2019, TechCrunch reported at the time. The email marketing software company was profitable and generated about $700 million in revenue for 2019, that report said.
Intuit SMB Customer Strength
Intuit remains one of the strongest software companies serving small and midsize business (SMB) clientele and consumers. The company's software portfolio, increasingly available as SaaS-based services, spans QuickBooks, Mint, TurboTax, Credit Karma and various accounting software packages.
Intuit revenue was $2.6 billion in Q4 of 2021, up 41 percent from Q4 0f 2020, including the addition of Credit Karma ($405 million in revenue).
Key Intuit business moves include:
- Partnering with Coalition on cyber insurance for SMBs;
- Launching QuickBooks Commerce -- a one-stop shop for small businesses to connect with marketplaces, websites and sales system providers.
- Hiring Microsoft veteran Gavin Orleow as VP of global partner channels, focused on QuickBooks for small businesses.
Stay tuned for potential updates on the Intuit-Mailchimp rumors.
