How much did Intuit pay for Mailchimp?

Business: Intuit, Turbo Tax parent, to buy Mailchimp for $12B deal

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TurboTax maker Intuit Inc. announced deal to buy email-marketing pioneer Mailchimp for about $12 billion.

The cash-and-stock deal is Intuit’s largest deal ever, positioning the company to offer more services to small businesses such as marketing and customer-relationship management.

Mailchimp, founded in 2001, is based in Atlanta and still founder-owned, according to its website. It began as a web-design agency and ran an email-marketing service on the side that later became its focus. Today it also provides other digital-ad services and CRM tools.

Bloomberg reported last month that Intuit was in talks to buy Mailchimp.

In addition to TurboTax, the online software that millions of people use to file their taxes, Intuit’s offerings include the QuickBooks bookkeeping software used by businesses and Mint, an online-budgeting platform that also pitches financial products to individuals. Intuit’s has a market value of more than $150 billion.

The software maker has been pushing further into the finances of the individuals and businesses it serves by adding more offerings. The deal for Mailchimp surpasses Intuit’s roughly $7 billion acquisition last year of personal-finance portal Credit Karma Inc., the tech company’s largest deal ever at the time.

Mountain View, Calif.-based Intuit was founded in 1983 and went public in 1993.

Write to Cara Lombardo at [email protected] and Miriam Gottfried at [email protected]

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Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my