Mint.com

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Mint.com
Type Subsidiary of Intuit
Founded 2006
Headquarters Mountain View, California
Key people Aaron Patzer, founder and CEO
Industry Personal finance, Software
Products Rich Internet application
Revenue N/A
Employees 35[1]
Website http://www.mint.com/

Mint.com is a free web-based personal financial management service created by entrepreneur Aaron Patzer[1]. Mint provides account aggregation through a deal with Yodlee. Mint's primary service allows for users to track bank, credit card, investment, and loan transactions and balances through a single user interface.

Mint has garnered media coverage from a number of blogs and media outlets such as the New York Times,[2] GigaOM,[3] VentureBeat,[4] the Orlando Sentinel,[5] and the San Francisco Chronicle.[6]

The company is located in Mountain View, California. Mint currently only supports financial institutions based in the United States.[7]

On November 2, 2009, Intuit completed acquisition of Mint.com.[8]


Contents

Investment and Finances

Mint has raised over $31M in venture capital funding from DAG Ventures, Shasta Ventures, and First Round Capital,[9][10] as well as from angel investors including Ram Shriram, an early investor in Google.[11] The latest round of $14M was closed on August 4, 2009[12], and reported by CEO Aaron Patzer as preemptive.[13] TechCrunch later pegged the valuation of Mint at $140M.[14]

Currently, revenue is generated through lead generation in which Mint.com recommends highly personalized financial products to its users.[15]

It was reported by Bloomberg that Mint was considering selling access to anonymous consumer data as a form of revenue.[16] This led to some criticism[citation needed] as personal data can be de-anonymized.[17] Aaron Patzer later responded by calling Bloomberg's headline a "misinterpretation", as only aggregate spending indexes would be published, not individual consumer data.[18]

Sale

TechCrunch reported on September 13, 2009 that Intuit would acquire Mint for $170M.[19] An official announcement was made the following day.

On November 2, 2009, Intuit announced their acquisition of Mint.com was complete. The former CEO of Mint.com, Aaron Patzer, was named vice president and general manager of Intuit’s personal finance group, responsible for Mint.com and all Quicken online, desktop and mobile offerings.[8]

Awards

See also

References

  1. "Everything You Wanted To Know About Startup Building But Were Afraid To Ask". TechCrunch. October 7, 2009. http://www.techcrunch.com/2009/10/07/everything-you-wanted-to-know-about-startup-building-but-were-afraid-to-ask/. Retrieved 2009-10-14. 
  2. Caruso, Denise (October 7, 2007). "RE:Framing; Securing Very Important Data: Your Own". The New York Times. http://query.nytimes.com/gst/fullpage.html?res=9C01E7DB1630F934A35753C1A9619C8B63. 
  3. DeMonte, Adena (September 19, 2007). "Mint's A Personal Finance After-Banking Treat". GigaOM. http://gigaom.com/2007/09/19/review-mint%e2%80%99s-a-personal-finance-after-banking-treat/#more-10255. 
  4. Eldon, Eric (September 18, 2007). "Mint: The Easiest Way to Manage Your Personal Finances". Venture Beat. http://venturebeat.com/2007/09/18/mint-the-easiest-way-to-manage-your-personal-finances. 
  5. Horowitz, Etan (September 29, 2007). "What's hot online? Techies like Twitter and Mint". http://www.orlandosentinel.com/technology/orl-horowitz2907sep29,0,5763867.column?track=rss. 
  6. Verne. "The award goes to ... Mint". San Francisco Chronicle. http://www.sfgate.com/cgi-bin/blogs/sfgate/detail?blogid=19&entry_id=20409. 
  7. "Frequently Asked Questions". http://www.mint.com/help/. 
  8. 8.0 8.1 "Intuit Completes Acquisition of Mint.com". Intuit. November 2, 2009. http://about.intuit.com/about_intuit/press_room/press_release/articles/2009/IntuitCompletesAcquisitionofMint.com. 
  9. Vivek (May 23, 2007). "MyMint.com acquires Mint.com; raises $5 million". Startup Squad. http://startupsquad.com/2007/05/23/mymintcom-acquires-mintcom-raises-5-million/. 
  10. http://venturebeat.com/2009/08/12/mintcom-rakes-14-million-in-third-round-of-funding/
  11. Marshall, Matt (October 16, 2007). "Mint, online money manager, raises $4.7M". Venture Beat. http://venturebeat.com/2007/10/16/mint-online-money-manager-raises-47m/. 
  12. http://sec.gov/Archives/edgar/data/1378887/000137888709000006/xslFormDX01/primary_doc.xml
  13. Kincaid, Jason (August 12, 2009). "Full Details On Mint’s $14 Million Series C Round". Tech Crunch. http://www.techcrunch.com/2009/08/12/full-details-on-mints-14-million-series-c-round. 
  14. Arrington, Michael (September 2, 2009). "Mint is Worth A Mint: $140 Million Valuation". Tech Crunch. http://www.techcrunch.com/2009/09/02/mint-is-worth-a-mint-140-million-valuation/. 
  15. "How Mint’s SmartSave Savings Engine Works". Mint.com. October 11, 2007. http://blog.mint.com/blog/updates/how-mints-smartsave%E2%84%A2-savings-engine-works/. Retrieved 2008-02-24. "Mint does make a small referral fee from advertisers on some offers. That’s what keeps Mint free." 
  16. Galante, Joseph (May 18, 2009). "Mint.com May Begin Selling Access to Anonymous Consumer Data". Bloomberg. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aWJnLqF0Y8zs. 
  17. "Lendingclub.com: A De-anonymization Walkthrough". 33 bits of Entropy. November 12, 2008. http://33bits.org/2008/11/12/57/. 
  18. Tartakoff, Joseph. "Interview: Mint.com CEO Patzer On His Plans To Boost Sales Ten-Fold This Year". http://paidcontent.org/article/419-interview-mint.com-ceo/. 
  19. Arrington, Michael (September 13, 2009). "Intuit To Acquire (Former TechCrunch50 Winner) Mint For $170 Million". Tech Crunch. http://www.techcrunch.com/2009/09/13/intuit-to-acquire-former-techcrunch50-winner-mint-for-170-million/. 
  20. http://www.time.com/time/specials/packages/article/0,28804,1918031_1918016_1917991,00.html
  21. http://www.time.com/time/specials/2007/article/0,28804,1809858_1809955_1811440,00.html
  22. http://www.pcmag.com/article2/0,2817,2321083,00.asp
  23. http://money.cnn.com/galleries/2008/pf/0811/gallery.web_sites.moneymag/2.html
  24. http://www.kiplinger.com/features/archives/2008/12/best-online-budgeting-sites.html
  25. "13th Annual Webby Awards Nominees & Winners". The Webby Awards. May 5, 2009. http://www.webbyawards.com/webbys/current.php?season=13. Retrieved 2009-05-06. 
  26. http://www.pcworld.com/article/id,141831-page,2-c,personalfinance/article.html
  27. "12th Annual Webby Awards Nominees & Winners". The Webby Awards. May 28, 2008. http://www.webbyawards.com/webbys/current.php?season=12. Retrieved 2009-05-06. 
  28. http://www.pcworld.com/article/140663-4/the_25_most_innovative_products_of_the_year.html
  29. "Mint Wins TechCrunch40 Top Company Award; Takes $50,000 Prize". TechCrunch. September 18, 2007. http://www.techcrunch.com/2007/09/18/mint-wins-techcrunch40-50000-award/. Retrieved 2008-01-29. 

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