Austin360 blogs > Digital Savant > Archives > 2009 > September > 14 > Entry
Mint and Intuit get their finances together
Back in July, when I interviewed Aaron Patzer, the CEO of hot financial start-up Mint.com, a marriage with Intuit seemed like the furthest thing from his mind.
But maybe my radar was a little off. Today, rumors what the company behind Quicken was purchasing Mint.com for $170 million proved true.
Patzer, a former Austinite, came up with the idea for Mint after a frustrating experience using Intuit’s services. The two companies even had a public dust-up a while back over Mint’s sizable growth. Mint rode a wave of positive buzz about its Web-based service and its extremely popular iPhone app, both of which make it easier to track your finances and see trends in your spending.
That aside, the deal makes a lot of sense. Quicken is still an established brand trusted by many and Mint has some great technology that will nicely complement Intuit’s financial products.
(Pictured at right: Mint CEO Aaron Patzer. Photo provided by Mint.)
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By Jacob
September 15, 2009 9:20 AM | Link to this
This will be a good merger. I hope they incorporate all the stuff Mint is missing with the mint design strategy.
By Michelle Greer
September 15, 2009 7:57 AM | Link to this
I wonder if they'll let Mint work independently or if they'll try to interfere in some way. I fear they would bury it as it directly challenges Quickbooks.
Xero.com looks kind of nice too in this space.