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Report: Intuit may acquire Mailchimp for more than $10 billion

Bloomberg reports a possible tie-up between the small-business software companies, but whether it comes to fruition remains to be seen.

Report: Intuit may acquire Mailchimp for more than $10 billion
[Photo: JHVEPhoto/iStock]
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Intuit, the company behind TurboTax and the small-business accounting software QuickBooks, is in talks to buy Mailchimp for more than $10 billion, Bloomberg reports.

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Mailchimp declined to comment, and Intuit didn’t immediately respond to an inquiry from Fast Company. The Bloomberg report cited anonymous “people familiar with the matter” who said no final decision had been made and that other buyers are potentially interested. Bloomberg reported last month that Mailchimp could be considering a sale of all or part of its business.

Atlanta-based Mailchimp traces its history to 2001 and, as its name suggests, initially focused on email newsletters and marketing, particularly for small businesses. It’s since expanded its focus to other services useful to small businesses, including texting, social media marketing, website and store hosting, and even physical postcards.

Among consumers, Intuit may be best known for its sometimes-maligned TurboTax software, as well as the consumer financial startups it’s bought, including Credit Karma and Mint. But it’s also the company behind QuickBooks, accounting software widely used by small- and medium-size businesses.

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Combining the two companies would presumably offer their small business clients access to a combined package of accounting and marketing services—as well as give each of the companies a new mailing list to target with its offers. Whether the acquisition will actually come to pass remains to be seen.

About the author

Steven Melendez is an independent journalist living in New Orleans.

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