John Paczkowski

Recent Posts by John Paczkowski

Intuit Acquires Mint for a Mint [CONFIRMED]

imagesThe TechCrunch 50 hasn’t even begun yet and already it’s making news. Online personal finance site Mint, which took top prize at the event in 2007, has evidently been acquired by Intuit. Price: A reported $170 million.

A nice, easy exit for Mint, which might have been the next Intuit–had it stayed the course and remained independent. But above all, a savvy move for Intuit (INTU), which has neutralized a growing threat to its Quicken Online and absorbed Mint’s 1.4 million registered users and their $47 billion in assets. Seems that “doesn’t-make-me-scoff-out-loud business plan” that Kara Swisher once noted, worked out quite well for Mint.

Below, Swisher’s January 2008 interview with Mint founder and CEO Aaron Patzer.

UPDATE: Patzer has confirmed the acquisition from the TechCrunch 50 stage. The price is indeed $170 million.

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Another gadget you don’t really need. Will not work once you get it home. New model out in 4 weeks. Battery life is too short to be of any use.

— From the fact sheet for a fake product entitled Useless Plasticbox 1.2 (an actual empty plastic box) placed in L.A.-area Best Buy stores by an artist called Plastic Jesus