Mailchimp

Mailchimp is an American company that develops solutions for automating marketing and mailing. Mailchimp products are focused on small and medium-sized businesses. Among them, there is software that helps online stores connect email and automatically send promotional offers to customers at the right time. In addition, Mailchimp offers tools that help businesses create an online store from scratch and launch digital advertising campaigns.

History

2021: Intuit bought Mailchimp for $12 billion

On September 13, 2021, the sale of Mailchimp to Intuit was announced for $12 billion. The buyer will pay for this purchase with their shares and cash. This is the largest purchase for Intuit.

It is planned to close the deal before the end of the second quarter of fiscal 2022. Intuit hopes that this acquisition will help the company increase its annual profit. According to the Nasdaq exchange as of September 13, 2021, Intuit's capitalization is more than $155.2 billion.

Together, Mailchimp and QuickBooks will become a powerful engine for small and medium-sized businesses, allowing them to attract and retain customers, manage their business, optimize cash flows and meet requirements, said Alex Cross, executive vice president and head of Intuit Small Business and Self-Employed Group.

Intuit acquired Mailchimp for $12 billion

Mailchimp has never attracted venture capital investment since it was founded in 2001, which is a rarity for technology startups. At the same time, Mailchimp managed to make a profit.

By September 2021, Mailchimp has 13 million users worldwide, including 2.4 million active users (launch Mailchimp applications at least once a month), and more than 800 thousand paying customers.^[1]

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