Intuit buys Mailchimp

Intuit has agreed to purchase global customer engagement and marketing platform Mailchimp for $12 billion.

The move is part of a cunning plan which will see Intuit and Mailchimp will combine their technologies to build an end-to-end customer growth and engagement platform for small and medium-sized businesses (SMBs), the company said.

Founded in 2001, Mailchimp began offering email marketing services and has now evolved into a major name in customer engagement and marketing automation with AI-driven tools and services. Intuit, meanwhile, is most well known for its QuickBooks small business accounting software.

The companies say that a unified platform between these two entities would allow customers to get their business online, market their business, manage customer relationships, benefit from analytics, get paid, access finance, optimise cash flow and remain compliant. This is alongside access to expertise the firm will provide in the form of a services offering.

Through this joint platform, SMBs can also combine customer data from Mailchimp and purchase data from QuickBooks to gain insights that can be used to grow their businesses.

Intuit CEO Sasan Goodarzi said Mailchimp and QuickBooks will help solve small and mid-market businesses’ biggest barriers to growth, getting and retaining customers.