Why did Intuit pay $12b to acquire Mailchimp?
After being sold to Intuit in a deal worth $12 billion, MailChimp has become one of the world’s most successful bootstrapped businesses. With revenue for 2021 projected at $1 billion, one must ask why this successful email marketing company decided to sell at all? Watch this video to have this acquisition broken down for you!
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Wishpond gives small businesses the technology and the expertise to sell more online. Learn how we can help your business here: https://bit.ly/2W2ZZSN
Read our blog post on the topic: https://bit.ly/3vPHezR
Watch here: https://youtu.be/G-zJmXjpyQ8
00:00 Intro
00:19 When was MailChimp founded?
MailChimp was founded in Atlanta in 2001 by Ben Chestnut and Dan Kurzius.
00:52 What is MailChimp?
The primary idea behind MailChimp was to allow companies to send out automated emails to grow their business and connect with their customers.
01:14 How was MailChimp funded?
Because of the company’s consistent growth, Chestnut and Kurzius decided that they wouldn’t ask for any external funding and only use funds coming in from the sales they were making.
02:04 What is MailChimp’s revenue?
At the time of the acquisition, MailChimp was one of the fastest-growing businesses in the whole world, reporting a revenue of $800 million in 2020 and was expected to cross the $1 billion mark in 2021.
02:14 All-in-one marketing platform
02:35 What is Intuit and when was it founded?
Intuit was established in 1983 by Scott Cook and Tom Proulx and has since then become one of America’s software giants, widely known for financial software ‘TurboTax’ and ‘QuickBooks’.
03:05 Who has Intuit previously acquired?
Intuit has acquired over 57 companies, with the biggest acquisitions being Mint.com for $170 million and Credit Karma for $8.1 billion.
03:55 Why did Intuit acquire Mailchimp?
The easy answer is that through this acquisition, Intuit wants to combine its financial services through QuickBooks with MailChimp’s marketing tools to create a one-stop shop for small businesses.
04:32 What does Intuit’s CEO think of the acquisition?
Intuit’s current CEO Sasan K. Goodarzi believes that the acquisition will enable both companies to combine their tools and strategies to maximize returns for their clients.
05:35 What did Ben Chestnut say of the acquisition?
With Intuit, we’ve found a shared passion for empowering small businesses.
06:02 What will the merger between Intuit and Mailchimp allow?
Intuit and MailChimp will enable their clients to get their businesses online, create and implement marketing plans, manage customer relationships, make payments and handle budgets, manage human capital while also providing help with accounting and compliance.
07:14 How will the money be paid out?
About $300 million will go into employee bonuses from the deal, and the remaining $11.7 billion, split between cash and Intuit Stock, will be divided evenly between the two MailChimp co-founders.
08:01 How did Intuit start the conversation of acquisition?
According to Goodarzi, Intuit relied on a product partnership the companies had been pursuing and the fact that Intuit co-founder Scott Cook had been helpful to Chestnut in the past.
08:21 What does the future hold for Intuit and Mailchimp?
As for now, both the companies have already started to lay down some integration plans between their platforms, and once the deal is finalized, there’s no stopping the kind of impact this merger will have on small businesses all over the world.
Watch this video again: https://youtu.be/G-zJmXjpyQ8
#Intuit #Mailchimp #Acquisition #startup #business #acquisitions #crm #automation #email #smallbusness
Видео Why did Intuit pay $12b to acquire Mailchimp? канала Wishpond
Special offer for Youtube: https://www.wishpond.com/secretlink
Wishpond gives small businesses the technology and the expertise to sell more online. Learn how we can help your business here: https://bit.ly/2W2ZZSN
Read our blog post on the topic: https://bit.ly/3vPHezR
Watch here: https://youtu.be/G-zJmXjpyQ8
00:00 Intro
00:19 When was MailChimp founded?
MailChimp was founded in Atlanta in 2001 by Ben Chestnut and Dan Kurzius.
00:52 What is MailChimp?
The primary idea behind MailChimp was to allow companies to send out automated emails to grow their business and connect with their customers.
01:14 How was MailChimp funded?
Because of the company’s consistent growth, Chestnut and Kurzius decided that they wouldn’t ask for any external funding and only use funds coming in from the sales they were making.
02:04 What is MailChimp’s revenue?
At the time of the acquisition, MailChimp was one of the fastest-growing businesses in the whole world, reporting a revenue of $800 million in 2020 and was expected to cross the $1 billion mark in 2021.
02:14 All-in-one marketing platform
02:35 What is Intuit and when was it founded?
Intuit was established in 1983 by Scott Cook and Tom Proulx and has since then become one of America’s software giants, widely known for financial software ‘TurboTax’ and ‘QuickBooks’.
03:05 Who has Intuit previously acquired?
Intuit has acquired over 57 companies, with the biggest acquisitions being Mint.com for $170 million and Credit Karma for $8.1 billion.
03:55 Why did Intuit acquire Mailchimp?
The easy answer is that through this acquisition, Intuit wants to combine its financial services through QuickBooks with MailChimp’s marketing tools to create a one-stop shop for small businesses.
04:32 What does Intuit’s CEO think of the acquisition?
Intuit’s current CEO Sasan K. Goodarzi believes that the acquisition will enable both companies to combine their tools and strategies to maximize returns for their clients.
05:35 What did Ben Chestnut say of the acquisition?
With Intuit, we’ve found a shared passion for empowering small businesses.
06:02 What will the merger between Intuit and Mailchimp allow?
Intuit and MailChimp will enable their clients to get their businesses online, create and implement marketing plans, manage customer relationships, make payments and handle budgets, manage human capital while also providing help with accounting and compliance.
07:14 How will the money be paid out?
About $300 million will go into employee bonuses from the deal, and the remaining $11.7 billion, split between cash and Intuit Stock, will be divided evenly between the two MailChimp co-founders.
08:01 How did Intuit start the conversation of acquisition?
According to Goodarzi, Intuit relied on a product partnership the companies had been pursuing and the fact that Intuit co-founder Scott Cook had been helpful to Chestnut in the past.
08:21 What does the future hold for Intuit and Mailchimp?
As for now, both the companies have already started to lay down some integration plans between their platforms, and once the deal is finalized, there’s no stopping the kind of impact this merger will have on small businesses all over the world.
Watch this video again: https://youtu.be/G-zJmXjpyQ8
#Intuit #Mailchimp #Acquisition #startup #business #acquisitions #crm #automation #email #smallbusness
Видео Why did Intuit pay $12b to acquire Mailchimp? канала Wishpond
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