The Strategist

Intuit confirms $12B purchase of Mailchimp

09/14/2021 - 06:09

U.S.-based financial software developer Intuit has reached a deal with e-mail distribution service Mailchimp, according to a press release from the buyer. Mailchimp will be acquired for $12 billion.

Tony Webster via flickr
Tony Webster via flickr
Intuit expects to pair Mailchimp with its QuickBooks accounting service to "help small- and medium-sized businesses and allow them to launch their businesses online," Intuit CEO Sasan Goodarzi said in a company statement.

Mailchimp had never raised outside financing and the purchase was the largest of its kind, Axios said. The previous record in this category belonged to video game company Mojang, bought by Microsoft for $2.5 billion.

Mailchimp was owned by founders Ben Chestnut and Mark Armstrong at the time of the deal and was founded in 2001. Intuit was founded in 1983; its main product is TurboTax, a tax filing software for U.S. residents.