Software maker Intuit is rumoured to be buying online personal finance service Mint for around USD170m. The deal should be announced in the next few days, according to Silicon Valley Insider, the technology industry blog.
Mint allows users to organise all of their bank accounts in one place and offers ways to analyse their spending and investments. The company has raised more than USD31m over three funding rounds from DAG Ventures, The Founders Fund, First Round Capital, Benchmark Capital, Shasta Ventures and Sherpalo. The latest round valued the company at USD140m.
The purchase is seen as a defensive move, after increased competition from Mint forced Intuit to give away the online version of its Quicken software for free in 2008. Inuit hopes that the deal will jumpstart the company's growth.
StrategyEye's related categories: Online Finance
StrategyEye's related companies: Mint, First Round Capital, Shasta Ventures, Benchmark Capital, Sherpalo Ventures, The Founders Fund, Intuit, DAG Ventures
