From Bootstrapped to Billionaires: Intuit is acquiring Mailchimp for $12B

Earlier this week, Intuit (INTU) announced that it was acquiring Mailchimp for a $12B deal with cash and stock. Most people would know Intuit for its accounting software such as QuickBooks, TurboTax, Mint and, more recently, Credit Karma. These applications give Intuit a strong presence in the small and mid-market businesses. The acquisition of Mailchimp further advances its offerings for these customers, providing a more solidified growth opportunity for Intuit.

Ben Chestnut, Co-Founder and CEO of Mailchimp, sent out a note to current customers related to the acqusition and provided some back story to the originations of Mailchimp. Mailchimp was started 20 years ago by Dan Kurzius and Ben Chestnut and their mission was to empower small businesses to grow. Both Co-Founders having come from entrepreneurial families made them both have a passion for building. They always wanted to help their clients and support small businesses. As they say, it's in their DNA.