Intuit to Buy Mailchimp, for Approx. $12 Billion

Intuit (Nasdaq: INTU), the global technology company that provides TurboTax, QuickBooks, Mint, and Credit Karma, is to acquire Mailchimp, a global customer engagement and marketing platform for growing small and mid-market businesses, for approximately $12 billion in cash and stock.

With the acquisition, Intuit will accelerate its strategy to advance in the small business mid-market.

Together, Intuit and Mailchimp will work to enable small and mid-market businesses to get their business online, market their business, manage customer relationships, benefit from insights and analytics, get paid, access capital, pay employees, optimize cash flow, be organized and stay compliant.

Founded in Atlanta, GA in 2001 by Ben Chestnut, CEO, Mailchimp is a global leader in customer engagement and marketing automation reaching 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. Its marketing platform allows users to digitally promote their business across email, social media, landing pages, ads, websites, and more—all from one place.

The company has 1,200+ dedicated employees based in Atlanta and offices in Brooklyn, Oakland, Vancouver, London, and Santa Monica.