Intuit, Maker of Quicken, to Buy Mint.com for $170 Million
Holy cow! Personal finance software giant Intuit (makers of Quicken, Quickbooks, and TurboTax) is set to buy online budgeting site Mint.com for $170 million, reports Silicon Alley Insider and TechCrunch.
Launched in September 2007, Mint.com is the nation’s leading free online personal finance service and now serves over 1.5 million users.
According to an e-mail sent yesterday by Mint.com Founder and CEO Aaron Patzer:
Mint.com will stay the way you like it: free, easy-to-use and constantly improving…after the acquisition closes, the Mint.com team will contribute to improving the financial lives of tens of millions of consumers and small businesses…Joining Intuit enables us to bring our vision of helping consumers understand and do more with their money to millions of Intuit customers. This is a compelling combination of our innovative product, technology, and industry leading user interface design with one of the most trusted brands in software.
I look forward to executing on that vision — for you.
What About Quicken Online?
It’s always seemed to me that Mint.com has been competing with Intuit’s free online budgeting tool Quicken Online, which I’ve praised for its relative ease-of-use compared to the trickier-to-learn, albeit more robust, Mint.com. According to Mint.com’s press release:
Intuit intends to keep both the Mint.com and Quicken Online offerings, with each serving separate and equally important purposes. Mint.com will become the primary online personal finance management service that is offered directly to consumers by Intuit. Quicken Online will connect Quicken customers across desktop, online and mobile to deliver easy, anytime-anywhere access. This will help accelerate Intuit’s ability to create products and services that make managing money easier for all Intuit customers.
Congrats Mint.com! When I first started blogging in 2006, most people I talked to couldn’t even imagine using an online tool to manage their personal finances. We’ve come a long way, Baby!
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