3 ms·

Very interesting. Mint must of been making, a um, mint for inuit. I was always skeptical it was a big money maker for them. This move tells me it is far more pr

Very interesting. Mint must of been making, a um, mint for inuit. I was always skeptical it was a big money maker for them. This move tells me it is far more profitable.

nathankane 11y ago
No, Mint isn't even reported in Intuit public earnings reports because its contribution is so small it's not material to overall earnings
milesskorpen 11y ago
What makes you think that? Everything I've heard suggests that Mint is very far from profitable.
AznHisoka 11y ago
I'd wager acquiring mint was one of their worst decisions ever. A product that's losing popularity year after year and a pain to maintain technically too. Wouldn't be surprised if they shutdown the product in a year.
- rblatz 11y ago
  No buying mint and then basically freezing the product was their worst decision.
1024core 11y ago
Anecdata of size 1: I used Mint initially, and then gave up on it. I was too scared of keeping all my eggs in one basket!
- newjersey 11y ago
  This is why I refuse to do credit score tracking on Mint. They do not need that information.
  - lancewiggs 11y ago
    Pocketsmith flips the model - rather than you being the product to sell to others they charge the users and don't share anything with anybody.
  - gherkin0 11y ago
    Some of my credit card accounts have started to do that automatically and for free. Discover card even includes a nice little graph of my FICO score over the last year with each statement.
meritt 11y ago
You're very correct but not in the way you might think. They are reselling the consumer spending data (timestamps, store/merchant, dollar amounts, demographics about the consumer, etc) to hedge funds, investment banks, and as competitive intelligence to other companies. Imagine detailed consumer spending for Home Depot & Lowe's for the past few years broken down by market, average purchase size, frequency, churn rate, loyalty, demographics of consumer, financial position of consumer, credit scores, et al. That's huge if you're investing in either company or if you are either company and you want to know how your competition is faring, marketing spend, expansion decisions, etc. In their earnings they only show direct Mint.com revenue (affiliate traffic from signing up for credit cards, bank accounts, mortgages, etc) which is extremely small compared to the data intelligence. The rest probably shows up in "data services" or something vague.

Very interesting. Mint must of been making, a um, mint for inuit. I was always skeptical it was a big money maker for them. This move tells me it is far more profitable.

nathankane 11y ago

No, Mint isn't even reported in Intuit public earnings reports because its contribution is so small it's not material to overall earnings

milesskorpen 11y ago

What makes you think that? Everything I've heard suggests that Mint is very far from profitable.

AznHisoka 11y ago

I'd wager acquiring mint was one of their worst decisions ever. A product that's losing popularity year after year and a pain to maintain technically too. Wouldn't be surprised if they shutdown the product in a year.

rblatz 11y ago
No buying mint and then basically freezing the product was their worst decision.

1024core 11y ago

Anecdata of size 1: I used Mint initially, and then gave up on it. I was too scared of keeping all my eggs in one basket!

newjersey 11y ago
This is why I refuse to do credit score tracking on Mint. They do not need that information.
- lancewiggs 11y ago
  Pocketsmith flips the model - rather than you being the product to sell to others they charge the users and don't share anything with anybody.
- gherkin0 11y ago
  Some of my credit card accounts have started to do that automatically and for free. Discover card even includes a nice little graph of my FICO score over the last year with each statement.

meritt 11y ago

You're very correct but not in the way you might think. They are reselling the consumer spending data (timestamps, store/merchant, dollar amounts, demographics about the consumer, etc) to hedge funds, investment banks, and as competitive intelligence to other companies. Imagine detailed consumer spending for Home Depot & Lowe's for the past few years broken down by market, average purchase size, frequency, churn rate, loyalty, demographics of consumer, financial position of consumer, credit scores, et al. That's huge if you're investing in either company or if you are either company and you want to know how your competition is faring, marketing spend, expansion decisions, etc. In their earnings they only show direct Mint.com revenue (affiliate traffic from signing up for credit cards, bank accounts, mortgages, etc) which is extremely small compared to the data intelligence. The rest probably shows up in "data services" or something vague.