News
Intuit is making the largest acquisition in its history, investing $7.1bn to take on fintech Credit Karma. The teenage company (founded in 2007), is a substantial business with annual revenue estimated at $1bn, based on 100m registered users of which 37m are said to be active monthly.
Credit Karma started out offering credit score checking but expanded and now offers a range of software and services for personal financial management. They include financial planning and tax filing, which position it as a competitor to Intuit, but other aspects of Credit Karma indicate this is more than a move to take out a disruptive competitor. Intuit stands to benefit from much of what Credit Karma has. More...
Posted by Angela Eager at '09:40'
- Tagged:
results
acquisition
software
FinTech
« Back to previous page