The unprecedented success of Mailchimp: without receiving external financing in its 20 years of life, it will be sold for 12 billion dollars
The sale of the email marketing service Mailchimp to the software company Intuit for 12 billion dollars is not only one of the largest transactions of the year in the industry worldwide, it is also an unprecedented success story: never before has a technology company that has not received external funding been bought for such a hefty amount.
Therefore, with this Mailchimp operation, founded in 2001, becomes the bootstrapping –Term that refers to companies that start and develop their activity only with their own means- most successful to date.
The similar cases that come closest to it are at a sidereal distance. The closest is Minecraft, which was acquired in 2014 by Microsoft for $ 2.5 billion. And more recently that of the insurer specialized in machine learning Assurance IQ, which was bought by the investment and insurance firm Prudential Financial for a fixed amount of $ 2.35 billion, to which another $ 1.15 billion variable could be added based on certain multi-year objectives, as reported at the time by Europe Press.
In addition to marking an important business milestone, Mailchimp sale becomes third largest transaction of the year in the technology sector, only behind the almost 20,000 million dollars that Microsoft invested in acquiring Nuance, of the 14,700 that Zoom paid for Five9 and tied with the also 12,000 that Thoma Bravo paid for Proofpoint.
With this acquisition, Intuit affirms that it wants to increase its presence in the market of services to SMEs and professionals. This American tech company is specialized in accounting tools, electronic tax payments and personal credits. Its main product is QuickBooks, a financial management system for freelancers and small and medium-sized businesses.
In addition, Intuit acquired the Credit Karma application in 2020, specialized in personal loans, financial management of individuals and preparation and monitoring of taxes. With this purchase, the Americans entered the consumer finance sector, after almost four decades specialized in the professional field.
Now, with the acquisition of Mailchimp, Intuit diversifies its business, although it also plans to leverage email marketing service systems to expand QuickBooks capabilities.“Together, Mailchimp and QuickBooks will help solve the biggest barriers to growth for small and medium-sized businesses to obtain and retain customers,” said Sasan Goodarzi, CEO of Intuit, in the statement released by the company about the transaction.