While the pandemic hurt small businesses, it also forced more to manage their finances online, driving sales for the unit up 16 percent over the year prior. Its small-business and self-employed unit made up about half its $9.6 billion in revenue in its last fiscal year. Small businesses have been a major focus for Intuit. After the deal closes, it will issue an additional $200 million in stock to Mailchimp employees. ![]() ![]() As part of the deal, Intuit is carving out about $300 million in equity for Mailchimp’s employees to help with retention. It has about 13 million total users globally and 800,000 paid customers, half of which are outside the United States.Īs it has expanded, Mailchimp has not taken on any outside money. ![]() ![]() Mailchimp, founded in 2001 and based in Atlanta, is best known for its email marketing platform, which it has advertised in abundance on podcasts such as “Serial.” Its platform has grown to include marketing services and software for tracking customer engagement. Shares of Intuit have risen about 75 percent over the past year, giving it a market capitalization of $152 billion.
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