Mailchimp, the newsletter service that sent this to you, just sold to Intuit for a cool $12 billion. More amazing than the number, which is damn amazing, is that the company never took any outside funding, making this the “largest-ever acquisition of a privately-held bootstrapped company. It’s also a huge windfall for the founders of Mailchimp, which opted for profit-sharing instead of stock-based compensation for employees.” When I first started with MailChimp, I used to call founder Ben Chestnut for tech support. Now I might call him for a loan. Congrats to him and the team.
The problem isn’t that Mailchimp found a buyer, it’s the buyer they found.
A fascinating pair-up. Mailchimp is an exemplar among startups: agile, focused, competitive, bootstrapped, driven by a novel product that still seems mercifully simple compared to the nerdly alternatives.
Intuit, on the other hand, is the ultimate sprawling corporate parasite, despised by every tricked taxpayer, an eyeless life-form lurking in the deepest depths of rent-seeking, regulatory capture and political lobbying.
So long, Mailchimp!
(Via Boing Boing)
I spent over 2 hours on the phone and on-line chat today to delete an old Mint (independent when I signed up, now an Intuit property) account I no longer use.
Mailchimp becomes yet another property, like Medium, where I have to decide if the content is worth dealing with the platform. If a content producer, like the afore mentioned DavePell and his NextDraft, decides it is still right for them to be on Mailchimp if I decide it is not right for me, I wish them all the best in their endeavors.