at first hesitationThe $12 billion Intuit-Mailchimp deal doesn’t make much sense. But people tend to pigeonhole companies, and in this case they can view Intuit as purely a financial software company and Mailchimp as an email marketing firm and nothing more. If it’s up to your point of view, the deal is going to be confusing. However, from a wider lens, there’s more to both companies than you might think.
Let’s start with Intuit. If you go to the company’s website and scan product setOf course, it’s clearly about managing finances for consumers and small businesses alike. The latter category appears to be what the company wants to take advantage of and expand with this deal.
Before yesterday’s news, Intuit’s biggest acquisition on the consumer side was buying Credit Karma last year for $7.1 billion. That deal gave the company’s customers a way to access their credit scores outside of the big three reporting companies: Experian, Equifax and TransUnion. Apparently not satisfied with just that transaction, it set its sights on Mailchimp to throw some money into the business side of the house.