After weeks of negotiations, financial services software company Intuit has confirmed that will buy MailChimp , the popular email marketing platform . The deal, valued at a whopping $ 12 billion, will include cash and shares.
According to the statement, the acquisition will boost Intuit’s growth plans by offering comprehensive services for small and medium-sized companies. In fact, the future owner of MailChimp is not a known player in the marketing world. It is best known for its QuickBooks and TurboTax accounting solutions.
The financial software company ensures that Intuit and Mailchimp’s joint work will help platform users find one ” end-to-end solution. ” It will allow from putting a business online, to marketing products, managing clients, paying employees and others.
“Fulfilling the promise of being a reliable solution, small and midsize businesses will have the power to combine their Mailchimp customer data and QuickBooks purchase data to get the useful information they need to grow and run their businesses with confidence, “ says the company.
MailChimp will not change its services
MailChimp CEO Ben Chestnut, says that the transaction will not affect the users of its platform. In this sense, the same products, tools, support and the brand will be maintained. However, the executive points out that he hopes that all this “improves” in the hands of Intuit.
MailChimp, based in Atlanta (United States), was founded in 2001 as an agency web design. A short time later, he changed his focus to email marketing services and added other digital advertising services, newsletters and customer management tools.
It currently has 13 million users worldwide. 2.4 million monthly active users and 800,000 paying customers . Two of its great strengths are data and technology. It has 70 billion contacts and a powerful automation system at scale powered by artificial intelligence.
In its 20-year history, MailChimp has never participated of a financing round . In other words, it has never received external financing to continue operating, something that translates into an achievement as it was sold for 12 billion dollars, having been developed solely with its own means.