Intuit has agreed to acquire Mailchimp for $12 billion

Intuit (Nasdaq: INTU), the global technology platform powering TurboTax, QuickBooks, Mint, and Credit Karma, has agreed to buy Mailchimp, a world-class, email marketing, customer interaction and marketing automation platform for growing small and mid-market businesses.

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The anticipated acquisition of Mailchimp by Intuit for around $12 billion in cash and stock will further the company’s objective of empowering prosperity throughout the world, as well as its strategy to become an AI-driven expert platform, both of which will benefit from the transaction.

It is expected that Intuit will use the Mailchimp acquisition to expedite the implementation of two of its previously stated strategic priorities: to become the hub of small business development and to disrupt the small business mid-market.

How Intuit benefits from Mailchimp acquisition?

Intuit benefits from Mailchimp’s large-scale technology and worldwide customer base. Mailchimp began as an email marketing company in Atlanta, GA in 2001, and has since grown into a global leader in customer interaction and marketing automation, fueled by a robust, AI-driven technology stack.

The acquisition of Mailchimp brings millions of users to Intuit’s already huge customer base.

How powerful is Mailchimp Marketing Automation Software ?

13 million registered user

2.4 million monthly active users

800,000 paid customers globally

With 50% of consumers outside the United States, the company has a global customer reach.

Mailchimp Technology Stack

Data and technology in the form of 70 billion contacts

250+ rich partner integrations.

2.2 million daily AI-driven forecasts are powered by AI-powered automation at scale.

The deal is scheduled to close by the end of Intuit’s second fiscal quarter in 2022, pending regulatory approvals and the fulfilment or waiver of other standard closing conditions.

Venkat

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