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Patzer claimed on the Mint blog ( http://www.mint.com/blog/updates/why-mint-com-plus-intuit-is-a-big-idea/ http://www.mint.com/blog/updates/why-mint-com-plus-in
by jmount 17y ago
Patzer claimed on the Mint blog ( http://www.mint.com/blog/updates/why-mint-com-plus-intuit-is-a-big-idea/ http://www.mint.com/blog/updates/why-mint-com-plus-intuit-is... ) that one reason to sell to Intuit was to speed up the adoption of his personal finance ideas in the market place. Seems like a legitimate non-problem reason.
"In addition, by joining Intuit, we can accelerate our ability to add more fantastic new product functionality into both Quicken and Mint.com. This means more people will find it easy and affordable to stay on top of their money issues. Bottom line? I see this as a chance to take a big leap forward toward our ultimate goal of improving the national savings rate."
- aditya 17y agoThey could have possibly done the same thing by continuing to disrupt, raising a lot more money, and building a billion dollar competitor to Intuit. Not saying that selling to Intuit was a bad idea, and I completely agree with what Josh is saying, a $100MM+ acquisition is life-changing after all.
- yannis 17y agoMy ex-partner used to say nobody died making a profit. Selling at $100++ is certainly not small change.
- URSpider94 17y agoCall me a cynic, but I don't necessarily believe that Patzer's comments about why he sold to Intuit reflect his true feelings. After someone has just given you $170 million, the least you can do is say a lot of nice things about the deal, what great synergy there is between the two companies, etc. That's just how business is done.