Mailchimp Acquired By Intuit To Empower Small Businesses
20 percent of small businesses fail within just the first year, many due to not having the resources to attract and retain customers.
Mailchimp, one of the global leaders in email marketing automation software, has announced that it has been acquired by Intuit. The deal, reportedly worth $12 billion, is designed to help Intuit empower its small and mid-size business customers with professional AI marketing tools.
With nearly 80 percent of marketers witnessing increased email engagement in recent months, Intuit aims to become a truly end-to-end business solution for all components of a small company’s activities. Known for their financial technology platforms TurboTax and QuickBooks, Intuit makes the investment in Mailchimp to give its users the tools necessary to establish digital marketing strategies and manage customer relationships.
“We’re focused on powering prosperity around the world for consumers and small businesses. Together, Mailchimp and QuickBooks will help solve small and mid-market businesses’ biggest barriers to growth, getting and retaining customers,” said Sasan Goodarzi, CEO of Intuit. “Expanding our platform to be at the center of small and mid-market business growth helps them overcome their most important financial challenges. Adding Mailchimp furthers our vision to provide an end-to-end customer growth platform to help our customers grow and run their businesses, putting the power of data in their hands to thrive.”
Since Mailchimp was initially launched 20 years ago in 2001, it has expanded its AI solutions to 13 million total users around the world. With 50 percent of its customers located outside of the United States, Mailchimp has established itself as a major global brand for email marketing and AI solutions.
Every day, Mailchimp’s AI solution drives 2.2 million automated predictions to help users optimize their strategies. With global email users expected to grow to over 4.5 billion by 2025, the new partnership advances the capabilities of small businesses to efficiently reach their target audiences.
“Over the past two decades, we’ve vastly expanded and evolved Mailchimp’s platform to help millions of small businesses around the world start and grow,” said Ben Chestnut, CEO and Co-founder of Mailchimp. “With Intuit, we’ve found a shared passion for empowering small businesses. By joining forces with Intuit, we’ll take our offerings to the next level, leveraging Intuit’s AI-driven expert platform to deliver even better products and services to small businesses. This is an exciting new chapter for Mailchimp, our 1,200+ dedicated employees, and customers.”
For small businesses, finding new customers has always been a challenge. Two-thirds struggle overcoming this obstacle, and more than 25 percent experience difficulties retaining customers. These struggles contribute to the reasons why 50 percent of small businesses fail within the first 5 years.
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The new acquisition equips small businesses with the tools they need to properly combat these startup business challenges. Users will be able to automate their email marketing campaigns, fueling greater revenue and customer retention rates.
“Together, Mailchimp and QuickBooks will become a powerful engine for small and mid-market business customers to get, engage and retain their customers, run their businesses, optimize cash flow and remain compliant,” said Alex Chriss, Executive Vice President and General Manager of the Intuit Small Business and Self-Employed Group. “Today, QuickBooks helps more than 7 million small and mid-market businesses get paid fast, access capital, pay their employees and grow in an omni-channel world. Mailchimp’s addition will bring speed and velocity to these efforts, with the acceleration of mid-market expansion opportunities and global growth for both brands.”