Intuit To Acquire (Former TechCrunch50 Winner) Mint For $170 Million
Intuit will acquire the free online personal finance service Mint
, we’ve confirmed from a source close to the deal, for around $170 million. Silicon Alley Insider
first reported a rumor on this. The deal should be announced in the next few days.
This is a terrific exit for Mint, which first launched two years ago at TechCrunch50
. Mint took the top prize at that event and has been growing fast ever since. Their last round of financing valued the company at $140 million.
In all, Mint has raised $32 million
over three venture rounds.
Earlier this year Mint and Intuit had a humorous clash over Mint advertising claims of gaining 3,000 new users a day and jumping from 600,000 to 850,000 users in a matter of months. Intuit sent a letter to Mint demanding an explanation for this apparently inconceivable feat, which we obtained and printed here.
We have just one question for founder and CEO Aaron Patzer
, though. Can we please have our $50,000 grand prize back? It seems like you don’t really need it any more.
Wow, $170 million. For an online banking replacement? Bankers take note!
