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[Investing] (M&A) Intuit To Acquire Mint For $170M


   

Intuit will acquire the free online personal finance service Mint, we’ve confirmed from a source close to the deal, for around 0 million. The deal should be announced in the next few days.


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This is a terrific exit for Mint, which first launched two years ago at TechCrunch50. Mint took the top prize at that event and has been growing fast ever since. Their last round of financing valued the company at 0 million. In all, Mint has raised million over three venture rounds.

Earlier this year Mint and Intuit had a humorous clash over Mint advertising claims of gaining 3,000 new users a day and jumping from 600,000 to 850,000 users in a matter of months. Intuit sent a letter to Mint demanding an explanation for this apparently inconceivable feat, which we obtained and printed here.

We have just one question for founder and CEO Aaron Patzer, though. Can we please have our ,000 grand prize back? It seems like you don’t really need it any more.


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About Mint.com

Mint.com is the nation’s leading online personal finance service, providing over 1 million users a fresh, easy and intelligent approach to money management. And it’s free. Mint is tracking over $175 billion in transactions, $47 billion in assets and has identified $300 million in potential savings for its users.

Designed to be effortless, Mint.com takes less than five minutes to set up. Users register anonymously using only a valid email address. Mint then does the rest, securely downloading transaction data from more than 7,500 bank, credit card and investment accounts on a daily basis. Users never need to import or synch their data. Mint applies patent-pending technology and proprietary algorithms to categorize transactions; provide a unified view of all account activity; alert users to low balances, bank fees, upcoming bills, and even potentially suspicious account activity; and give users personalized suggestions for significant savings opportunities.

Each user can monitor their total net worth, virtually real time, at www.mint.com, from any mobile phone (by texting short code MyMint [696468]), or by using Mint.com’s iPhone application – rated #1 in the Finance category in iTunes on the day of its launch.



[techcrunch]



 




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