Intuit announces to acquire email marketing company Mailchimp for almost Twelve Billion USD

The financial software/services provider Intuit has made an announcement that it will purchase the email marketing firm “Mailchimp” for almost Twelve Billion USD to make its company better for SMBs. Many rumors were running around before this announcement regarding the takeover of Mailchimp. However, on Monday, Intuit has confirmed to take Mailchimp in its corporate responsibility. This current deal is done both in cash and in shares. It is anticipated that the transaction is going to be finalized in the first half of the next year. It will be considered the most significant deal that Intuit has ever made.

Intuit Inc. is not actually an eminent player in email marketing. However, it is renowned for its financial software and the fresh acquirement of Credit Karma for approx. eight billion US Dollars. Intuit Incorporation believes that Mailchimp will contribute to advance the QuickBooks software that trails the outlay. The CEO of the acquirer company stated that there is an implausible authority in merging the consumer info and purchase info, and the company will put the control of the data into the consumer’s pocket.

After the completion of this deal, the two companies will work together to provide a groundbreaking, e2e customer growth platform for minor and medium-sized enterprises. The SMBs will provide assistance in advertising their businesses, manage the CR, will assist those enterprises to shift online. Further, they will catch the analytics during the handling of cash flows.

Mailchimp has over 13,000,000 users internationally and among them, 2400,000 users are monthly active. Almost 800,000 are paid clients and half of the clients are not from the country of America. The email marketing company also holds the info of seventy billion contacts and over two hundred and fifty rich partners’ assimilations. Intuit has a plan to put a giant bet to drive SMB advancement and disturb the marketplace. Intuit is trying to extend its platform so that it can become the hub of SMB growth and it will assist the company to conquer the major financial challenges. For 2/3 of minor businesses, searching for new clients can be a very hard task; also there is another major challenge of retaining the old customers. Still, ¾ of small-scale businesses are not using CRM solutions.

84% of these small-sized businesses are working on worksheets to settle their stocks over channels and half of the businesses give up in their initial 5 years due to substantial cash flow obstacles. These are the challenges that the minor and major businesses are facing and after the finalizing of this deal, both companies will try to solve these issues. This deal is an achievement for Mailchimp.

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