Intuit Planning To Acquire Mint.com For $170 Million
In less than 2 years since launching, Mint.com is supposedly selling themselves to Intuit Inc. Mint.com is a financial tool that allows you to aggregate all of your bank and credit card information and find ways to save money. The deal is expected to close within the next few days.
Mint had launched at the TechCrunch50 conference two years ago and took the top prize giving them $50,000. Mint raised $31.8 million in total funding from First Round Capital, Felicis Ventures, Shasta Ventures, Benchmark Capital, Sherpalo Ventures, Hite Capital, DAG Ventures, and The Founders Fund. Angel investors in Mint include Ron Conway, Mark Goines, Geoff Ralston, and Dave McClure.
This acquisition is interesting because Intuit had previously sent Mint a letter demanding an explanation for how they jumped to 850,000 users within several months.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry