If Substack is messaging tech’s bad boy, Mailchimp is the right date for you to bring home to mom.
The company is recently recognized for its reliable inbox work (you are reading some of it right now). Rumors first circulated in August that the software giant and owner of Turbotax was lighting up Mailchimp’s inbox with a $ 10 billion takeover bid. Although no official decision has been made, it has been confirmed that the takeover offer is very real and well on the table.
Take care of business
Intuit has been developing its portfolio of back office services for small businesses for years. In addition to Turbotax, the firm is behind the Quickbooks accounting aid, the ProSeries tax service and the CreditKarma personal finance site. As such, Intuit has been successful in capitalizing on companies scrambling to get operations back on track after the pandemic. And based on the company’s shares, which have risen 49% this year, many moms and dads are leaning heavily on electronic accounting.
Adding Mailchimp’s digital marketing products would be a feather in Intuit’s hat. The deal would be the largest acquisition ever made by Intuit (exceeding the $ 7.1 billion the company planned to take over CreditKarma). But how did the war-era Atlanta-based marketing automation company become such a popular ticket?
- Mailchimp, which was founded in 2001, was one of the first companies to allow businesses to send automated emails to their customers. The company has since redesigned itself as an “all-in-one marketing” brand, offering website domains, e-commerce stores, graphics, text, social media, “buyable” links. and customer service assistance.
- Mailchimp is also one of the most successful bootstrap technology companies of all time. The company has not taken a single dollar of venture capital funding since its launch.
Golden Goose: An Intuit-Mailchimp agreement is still in the hypothetical phase. Corn Something is on the horizon for Mailchimp, which has attracted interest from private equity firms and large tech companies and is also considering seceding a minority stake.