The deal would unite two providers of services for small businesses. Intuit has offered QuickBooks accounting software to clients for decades, supplementing it with services such as Credit Karma, which it acquired last year. Mailchimp is focused on digital marketing services, including social advertising, so-called shoppable links and automation products.
Representatives for Intuit and Mailchimp didn’t respond to requests for comment.
Bloomberg reported earlier in August that Mailchimp was exploring a sale. The company also has considered offering a minority stake, people with knowledge of the matter have said. It has attracted interest from both private equity firms and large tech companies such as Intuit. Mailchimp had about $300 million in earnings before interest, taxes, depreciation and amortization in 2020, one of the people said.
The Atlanta-based company traces its origins to a web design agency called the Rocket Science Group, which was founded in 2001 by Ben Chestnut
Article source: https://adage.com/article/digital-marketing-ad-tech-news/intuit-talks-buy-mailchimp-more-10-billion/2362486
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