The most recent acquisition by Intuit has been Mailchimp which was acquired in Q421 for a staggering $5.7 billion in cash and 10.1 million shares of stock, with a value of $6.3 billion. Thus, personal finance apps such as Mint are actually poised to do quite well given the psychological anxiety of the everyday consumer. In addition, to concerns Russia will cut off the gas supply to Europe. Europeans are also feeling the pressure as they have seen energy and food price inflation. According to Intuit, 75% of Americans have concerns about their ability to pay bills and loans. This has been driven by the high inflation rates in Food, transport and utility bills, which impacts the cost of living, while wage growth hasn't kept up. Bill Shark then takes a 40% cut on the savings for the service and gives Mint a nice kickback.Īccording to a study by LendingClub, 64% of the US population were living "Paycheck to Paycheck" in the January 2022, up 12% year over year. In addition, it's "Bill Negotiation Service" powered by "Bill Shark" contacts your phone, internet or cable provider and "negotiates" your bills down. A unique part of the platform is its ability to connect All bank accounts and investment accounts in one place. Mint helps people to track their budget and expenses in order to be more financially aware. Intuit also acquired personal finance App, in 2020, for $170 million. The platform has over 110 million members across the US, Canada, and the UK. The company then uses this credit information to tailor financial offers direct to consumers from credit cards to loans.
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Credit Karma is a financial application which provides free credit scores and reports, with data derived from Equifax ( EFX) and TransUnion ( TRU). In 2020, Intuit acquired Credit Karma for $3.4 billion in cash and 13.3 million shares of stock. TurboTax is Intuit's easy tax filing solution which complements QuickBooks.
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Note: I completed my google search in "Incognito mode" to avoid any bias, as I had visited Intuits website previously.īest Digital Accounting Software (Author Google Search)īest Digital Accounting Software (Review Website) In addition, they are ranked number one on multiple review websites. Management's strategy is to gradually convert its desktop users to the cloud offering, but usually it's the larger customers which are slower to switch.Īs an extra data point, I did a search on Google for "Best Digital Accounting Software" and saw QuickBooks has paid for the top search result. The different QuickBooks versions include: QuickBooks Online (44% market share), QuickBooks Desktop (15%), and QuickBooks Self Employed (17%).
This is the market leading Digital Accounting Software in the US and Canada, with a 76% market share in the USA, split across the multiple versions of the software suite.
QuickBooks is Intuits flagship digital accounting product. Intuit Software Products (Official Website) Managements mission is to help solve its small business customer problems, which include everything from "Getting Customers" to tracking accounting and filing tax returns. Intuit offers a suite of financial software products which include: QuickBooks, TurboTax, Credit Karma, Mint and now Mailchimp which was recently acquired. Thus, let's dive into the Business Model, Financials and Valuation for the juicy details. Intuit stock is still undervalued intrinsically and relative to historic multiples, despite the gap between price and value closing slightly. The high inflation numbers released in the fourth quarter of 2021 and the subsequent interest hikes, acted as one catalyst for the stock price to plummet by ~47%.Since then the stock has made gains of ~20% (since my last post), but is still down substantially from its highs. Intuit's share price went on a tremendous bull in 2020 and increased by over 200% from the March lows till the December highs. By the 1990s, the company had 1.3 million customers and today they have over 100 million customers. The company was founded in 1983 in Mountain View, California and rode the wave in digital accounting. Intuit ( NASDAQ: INTU) is a leading financial software provider, which focuses on helping small businesses.
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