Intuit: Credit Karma And Mailchimp Integration A Game Changer (NASDAQ:INTU)
Summary
In October 2021, Intuit reached an agreement to acquire Mailchimp, a global customer relationship management and marketing platform that helps small and mid-market businesses grow, for approximately $12 billion-the largest in the companys history. Similarly, its QuickBooks software helps small or new owner-operated businesses, which often have a difficult time hiring or paying professional accounting staff, to efficiently handle their book-keeping, payroll, timesheets, invoicing/payments, or financing needs. Created by author using public financial data The stock price has run up since 2015 but pulled back by almost 50% in the recent market pullback triggered by the Federal Reserve interest rate hikes and Russian invasion of Ukraine. Intuits Consumer and Small Businesses segments are stable, steady growing and generate recurring revenues, but its recent acquisitions of Credit Karma and Mailchimp contribute greatly to the companys growth potential. Intuits acquisition of Mailchimp will create a potentially formidable competitor to existing e-commerce and digital marketing platform, especially in the historically underserved small (less than 50 employee) business segment which lack budget and training for the more expensive, feature rich offerings from Salesforce and Adobe.
