Intuit Reported to Acquire Credit Karma – Building A PFM Powerhouse

Intuit Reported to Acquire Credit Karma – Building A PFM Powerhouse

The Wall Street Journal reports that Intuit (ticker: INTU), plans to acquire Credit Karma for approximately $7 billion. A Credit Karma acquisition would compliment Intuit’s 2009 $170 million acquisition of Personal Financial Management (“PFM”) fintech company Mint.com. The Credit Karma deal would mark Intuit’s first large acquisition under Sasan Goodarzi who became Intuit CEO in January 2019. We estimate that Credit Karma generated 2019 revenue of approximately $1 billion.

We favor acquiring growing consumer fintech companies such as Credit Karma to Morgan Stanley’s (ticker: MS), recently announced acquisition of flat revenue business ETrade (ticker: ETFC).


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