Credit Karma

Credit Karma founded in 2007 informs users on the credits and also conducts the rating of the companies issuing the credits and potential borrowers. Besides, Credit Karma allows to calculate so-called credit points and to learn whether this or that person will be able to obtain a loan in a certain bank.

History

2020: Intuit purchased Credit Karma for $7.1 billion

On February 24, 2020 Intuit announced acquisition of Credit Karma for $7.1 billion. One half of the amount will be paid with own means, and other half — stocks of Intuit. In terms of one security the cost of the transaction was $299.73.

After closing of the transaction Credit Karma will remain the independent company, and its CEO Kenneth Lin will remain at a wheel.

Intuit announced acquisition of Credit Karma for $7.1 billion

The transaction with Credit Karma became the largest acquisition of Intuit for 37-year history. It will help the buyer to increase the customer base by 84 million people and also to offer new services.

According to The New York Times edition, "Intuit can try to compare all tax data which her clients provide TurboTax, with data on solvency which are stored in Credit Karma". It will allow Intuit to attract more clients to credit card issuers and to earn from creditors for providing data access, said in the publication more.

Having integrated Credit Karma, we will be able to create the personal financial assistant who will help consumers to find the necessary financial products, to earn and share more the ideas and councils how to purchase the house of a dream, to pay for education and to spend a vacation which they always wanted — the CEO of Intuit Sasan Goodarzi said.

It is supposed that the transaction will lead to creation of financial technical-giant which will help people to keep up with their credit history, to pay taxes and also to look for more profitable financial products including the credits.^[1]

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