Intuit, the global technology platform that provides TurboTax, QuickBooks, Mint, and Credit Karma services, announced that it has agreed to acquire Mailchimp, a world-class, global customer engagement and marketing platform for growing small and mid-market businesses. With the acquisition of Mailchimp, Intuit will accelerate two of its previously-shared strategic bets—to become the center of small business growth and to disrupt the small business mid-market. This move further integrates Intuit’s offerings into the inner workings of small businesses and is quickly becoming a one-stop shop for managing all aspects of growth.
Mailchimp brings new technology and capabilities to Intuit, along with global customer reach. Founded in Atlanta, Georgia in 2001, Mailchimp began by offering email marketing solutions, and evolved into a global leader in customer engagement and marketing automation fueled by a powerful, cutting-edge AI-driven technology stack. Mailchimp brings some impressive stats to the table:
- Global 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.
- Data and technology in the form of 70 billion contacts, and 250+ rich partner integrations.
- AI-powered automation at scale that fuels 2.2 million daily AI-driven predictions.
The acquisition, which carries a hefty $12 billion price tag, is the largest to date for Intuit, who previously bought Credit Karma for $8.1 billion. This investment shows that Intuit is fully committed to developing its business as a hub for expansion.
Ben Chesnut, CEO of Mailchimp, reiterates that, “Together with Intuit, we’ll deliver an innovative small business growth engine powered by marketing automation, customer relationship management, accounting and compliance, payments and expense, and e-commerce solutions, creating a single source of truth for your business. We’ll also be able to offer more personalized support and onboarding, expand our international footprint, and scale our teams to innovate faster and deliver the solutions you want and need.”
Here at Foundry, we understand the power of digital communication when it comes to connecting with your customers through email. This is why we are a certified Mailchimp partner, and why we continually leverage the platform to perform for our clients day in and day out. As Foundry is consistently growing and evolving, we are committed to helping our partners to do the same. It’s our mission to deliver the best marketing technologies to our clients, and Mailchimp has been instrumental in helping us fulfill that promise as the digital world moves forward.
We have found that Mailchimp’s tools and technology mesh perfectly with our multichannel campaigns and marketing needs, allowing us to map the customer journey and deliver unique experiences that drive more sales. Ultimately, the Intuit buyout seems to be immediately more critical to investors. However, the acquisition points to the company’s interest in diving deeper into the email and digital services that Mailchimp provides. At Foundry, we are hopeful that the CEO’s projections of offering more “personalized support and onboarding” will become evident in the months and years to come as we continue to master the platform. Keeping a pulse on these changes and continuing to improve the services we provide to clients will be a priority for our digital team moving forward.