Intuit Agree Deal to Acquire Mailchimp to Become an AI-driven Expert Platform

The acquisition will also help Intuit in accelerating its strategy o become the center of small business growth; and to disrupt the small business mid-market

Intuit Agree Deal to Acquire Mailchimp to Become an AI-driven Expert Platform

On 13th September 2021, Intuit, announced that it has agreed a deal to acquire Mailchimp for approximately USD 12 billion in cash and stock. Intuit is a global technology platform that makes TurboTax, QuickBooks, Mint, and Credit Karma, and Mailchimp is a world-class, global customer engagement and marketing platform for growing small and mid-market businesses.

The acquisition of Mailchimp advances Intuit’s mission of powering prosperity around the world, and its strategy to become an AI-driven expert platform. The acquisition will also help Intuit in accelerating its strategy o become the center of small business growth; and to disrupt the small business mid-market.

Sasan Goodarzi, CEO of Intuit, said, “We’re focused on powering prosperity around the world for consumers and small businesses. Together, Mailchimp and QuickBooks will help solve small and mid-market businesses’ biggest barriers to growth, getting and retaining customers. Expanding our platform to be at the center of small and mid-market business growth helps them overcome their most important financial challenges. Adding Mailchimp furthers our vision to provide an end-to-end customer growth platform to help our customers grow and run their businesses, putting the power of data in their hands to thrive.”

Founded in Atlanta, GA in 2001, Mailchimp has lobal customer reach with 13 million total users globally, 2.4 million monthly active users, and 800,000 paid customers; with 50 percent of customers outside of the U.S. The company also has more than 70 billion contacts and 250+ rich partner integrations, along with AI-powered automation, that supports 2.2 million daily AI-driven predictions.

“Over the past two decades, we’ve vastly expanded and evolved Mailchimp’s platform to help millions of small businesses around the world start and grow. With Intuit, we’ve found a shared passion for empowering small businesses. By joining forces with Intuit, we’ll take our offerings to the next level, leveraging Intuit’s AI-driven expert platform to deliver even better products and services to small businesses. This is an exciting new chapter for Mailchimp, our 1,200+ dedicated employees, and customers,” said Ben Chestnut, CEO and Co-founder of Mailchimp.

Both Intuit and Mailchimp has always worked to solve small and mid-market businesses’ biggest challenges. Around 67% of small businesses face challenges in finding new customers while 25% of them faces difficulties in retaining their existing customers, and still almost 75% of small businesses have not opt for a customer relationship management solution. Intutit and Mailchimp together will be working to provide an innovative, end-to-end customer growth platform for small and mid-market businesses, allowing them to get their business online, market their business, manage customer relationships, and benefit from insights & analytics.