Intuit acquires Mailchimp for $12 billion

US company Intuit buys marketing platform Mailchimp for $12 billion. Intuit, the publisher of several financial software products, plans to use Mailchimp to expand its offering to small and medium businesses. The latter will be able to integrate data from Mailchimp for Marketing and Customer Relations with purchase data from the Quickbooks accounting software.

Mailchimp was founded in Atlanta in 2001 and has grown from an email marketing solution to a leading marketing automation platform through several acquisitions. The company has 2.4 million monthly active users and half of its revenue is outside the United States. Technically, Mailchimp has 70 billion contacts, 250 integrations, and provides more than 2 million daily predictions based on artificial intelligence.

“With Intuit, we have shared a passion for promoting small businesses. By joining forces with Intuit, we will take our offering to the next level and leverage Intuit’s AI-based expert platform to deliver better products and services for small businesses. This is said Ben Chestnut, CEO and Co-Founder of Mailchimp. It’s an exciting new chapter for Mailchimp, over 1200 dedicated employees and our customers.By the way, he is said to have painted the logo with the same little monkey in the company’s early years.

Speaking of which: Switzerland’s Idea2 would like to take on Mailchimp. Find out more here.