Mint: Productive Money Management Web 2.0 Application Walks Away With TechCrunch40 Grand Prize
Aaron Patzer had a vision in November 2005.Â When using Quicken for his own personal accounting, Aaron realized that he was running through a lot of tedious work.Â Patzer then started developing Mint, a Web 2.0 tool that is used for all the different forms of money management.
Today, Mint is backed by First Round Capital and previous executives from eBay, Google, Charles Schwab, and Reuters.Â Josh Kopelman became a Mint Board of Director after investing into the company.Â Kopelman is the founder of Half.com, which eBay bought in June 2000 for $318 million.Â Mint’s current funding is $5 million.
As of tonight, Mint has another award to list as an accomplishment: the TechCrunch40 Conference 2007 winner.Â The personal finance application will take home $50,000 as an award.
Mint also acts as a financial consultant for its users.Â Users are given the ability to see what potential savings they would see if they switched from a certain credit card to another one.
Other features include chart generation, an alart system, an up-to-date credit card statement with over 3,000 bank and credit card partnerships, and the ability to monitor financial health.
Mint’s categorization and proprietary search algorithms are patent-pending.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry