A request that this article title be changed to Mint (personal finance service) is under discussion. Please do not move this article until the discussion is closed. |
Subsidiary | |
Industry | Personal finance, Software |
Founded | 2006 |
Founder | Aaron Patzer |
Headquarters | Mountain View, California, |
Area served | United States, Canada |
Products | Web application, Mobile application |
Revenue | N/A |
Number of employees | 35; before acquired by Intuit in 2009 [1] |
Parent | Intuit |
Website | mint.com |
Mint, also known as Intuit Mint (styled in its logo as intuit mint with dotted 't' characters in "intuit" and undotted 'i' characters) and formerly known as Mint.com, is a personal financial management website and mobile app for the US and Canada produced by Intuit, Inc. (which also produces TurboTax, QuickBooks, and Credit Karma). [2]
Mint.com was originally created by Aaron Patzer and provided account aggregation through a deal with Yodlee, but switched to using Intuit's own system for connecting to accounts after it was purchased by Intuit in 2009. [3] It was later renamed from "Mint.com" to just "Mint". Mint's primary service allows users to track bank, credit card, investment, and loan balances and transactions through a single user interface, as well as create budgets and set financial goals. [4] [5]
As of 2010, Mint.com claimed to connect with more than 16,000 US and Canadian financial institutions, and to support more than 17 million individual financial accounts. [6] As of November 2013 [update] , Mint.com claimed to have more than 10 million users. [7] In 2016, Mint.com claimed to have over 20 million users. [8]
Mint Bills, previously known as Check and Pageonce was a financial account management and bill payment service bought by Intuit in 2014 and integrated into Mint.com in March 2017. The Mint.com bill payment service was then discontinued on June 30, 2018. [9]
Mint raised over $31M in venture capital funding from DAG Ventures, Shasta Ventures, and First Round Capital, [10] [11] as well as from angel investors including Ram Shriram, an early investor in Google. [12] The latest round of $14M was closed on August 4, 2009, [13] and reported by CEO Aaron Patzer as preemptive. [14] TechCrunch later pegged the valuation of Mint at $140M. [15]
In February 2008, revenue was generated through lead generation, earned via earning referral fees from recommendations of highly personalized, targeted financial products to its users. [16]
On September 13, 2009, TechCrunch reported Intuit would acquire Mint for $170 million. [17] 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. [5] Patzer further added the features of the online product Mint.com would be incorporated into the Intuit's Quicken desktop product, and vice versa, as two collaborative aspects of the Intuit Personal Finance team. [18] Patzer left Intuit in December 2012. [19]
Mint asks users to provide both the user names and the passwords to their bank accounts, credit cards, and other financial accounts, which Mint then stores in their databases in a decryptable format. This has raised concerns that if the Mint databases were ever hacked, both user names and passwords would become available to rogue third parties. Some banks support a separate "access code" for read-only access to financial information, which reduces the risk to some degree. [20] [21]
In January 2017, Intuit and JPMorgan Chase settled a longstanding dispute, and agreed to develop software where Chase customers send their data, for financial purposes, to Mint without having Intuit store customers' names and passwords. It was also agreed Intuit would never sell Chase’s customer data. [22]
Intuit Inc. is an American business and financial software company that develops and sells financial, accounting, and tax preparation software and related services for small businesses, accountants, and individuals. The company is headquartered in Mountain View, California and the CEO is Sasan Goodarzi. As of 2019, more than 95% of its revenues and earnings come from its activities within the United States. Intuit's products include the tax preparation application TurboTax, personal finance app Mint and the small business accounting program QuickBooks.
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Outright is an accounting and bookkeeping application that assists small businesses and sole proprietors with managing their business income and expenses. It also provides them with a means to organize and categorize expenses for filing a Schedule C.
Mint Bills, formerly Check and before that Pageonce, was a website and mobile banking application developed by Check, Inc. Mint Bills utilized proprietary account aggregation technology for secure payment technologies in its mobile applications; its primary service allowed users to pay bills and track bank, credit card, investment, and loan transactions and balances through the Mint Bills website or mobile apps for its Android and iOS platforms. Mint Bills was bought by Intuit in 2014 and integrated into Mint.com in March 2017. The Mint.com bill payment service was then discontinued on June 30, 2018.
Stripe is an American financial services and software as a service (SaaS) company headquartered in San Francisco, California, United States. The company primarily offers payment processing software and application programming interfaces (APIs) for e-commerce websites and mobile applications.
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Personal financial management (PFM) refers to software that helps users manage their money. PFM often lets users categorize transactions and add accounts from multiple institutions into a single view. PFM also typically includes data visualizations such as spending trends, budgets and net worth.
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Mint has more than 10 million users who know their information is always secure.
Over this decade, we've grown to include over 20 million users!
Mint does make a small referral fee from advertisers on some offers. That’s what keeps Mint free.