Intuit has scooped up Credit Karma for $7 billion to diversify its product suite - Business Insider

Mint for $170 million in 2009 to help users better manage their finances, and its service Turbotax helps customers do their taxes, for example. Intuit's acquisition of Credit Karma deepens its push into consumer finance further and makes its product suite even more robust, as it's gaining access to free credit scoring services.

And for Credit Karma, IPO rumors have been swirling — but exiting the market in a move that avoids a stint on the public market could be a much more lucrative path for the fintech. It's been rumored that Credit Karma was a likely candidate to go public this year after already delaying an IPO at least once before, The Street.

The news comes just days after another major acquisition in the finance space, suggesting that consolidation is intensifying as fintechs increasingly challenge the status quo of the industry. Just last week, Morgan Stanley agreed to Additionally, marketplace lender Lending Club signed a deal to Radius Bank for $185 million earlier this month — making it the first fintech to buy a bank — and Visa open banking fintech Plaid for $5.3 billion in January.

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Why Intuit is buying Credit Karma for $7 billion - Business InsiderIntuit is nearing a $7 billion deal to acquire Credit Karma — here's what the TurboTax owner has to gain from the buzzy startup known for its free credit scores
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Fintech company Intuit to buy Credit Karma for $7.1 billionInuit has agreed to acquire Credit Karma for approximately $7.1 billion in cash and stocks, the companies announced. The acquisition of Credit Karma pushes Intuit further into the world of consumer finance technology. This is bad news for consumers *cough* monopoly *cough* I wish the Inuit were players.
Fuente: CNN - 🏆 4. / 95 Leer más »