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Intuit sells Quicken to private equity firm in management buyout

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Re: Intuit sells Quicken to private equity firm in management buyout

#61

Intuit has squandered the Quicken brand for years with lousy updates and even worse customer support. In some respects it's good to see them sell it to someone who might do something with it. Unfortunately, the Quicken name is now so tarnished that the private equity firm likely has one swing at a decent update. Anything less than a homerun and they might as well shut it down.

Agreed -- it's a weird strategy. "Hey users, look how bad we let Quicken get... Now try our cloud products!"

Re: Intuit sells Quicken to private equity firm in management buyout

#62

If there was one piece of desktop software that I think the world definitely needs an alternative for it's Quicken. I've got about 15 years of my financial life in my Quicken file, and I probably have used the software at least twice a week, religiously, during that time period. I've grown so dependent on it in a way I've never grown dependent on any other software. If it were to stop functioning tomorrow, I'd be scr…

What is super sensitive that you couldn't export to something like Mint? They don't store your account numbers on their cloud after you've completed the link.

Not a compelling argument, imo. Seems like almost every major website is getting hacked, and finance sites are probably a big target.

Re: Intuit sells Quicken to private equity firm in management buyout

#63

Quicken is good when it works with your bank, I have a bank that doesn't work with Quicken and only exports to an older Quicken file format that is no longer supported. I remember when Microsoft Money was Sun downed, I thought Quicken had beaten them. But it seems Inuit still has financial problems and sold Quicken.

Amazingly Microsoft Money Sunset is still available as a download and free to use. https://www.microsoft.com/en-us/search/result.aspx?q=Money+p...

How does it compare to Quicken, and can it still download transactions?

Re: Intuit sells Quicken to private equity firm in management buyout

#66

Doing my taxes this year, I find it amazing how incompetent most financial software is (including Quicken). For example, take a simple task: download all your financial data for the last year. Log into your bank's site. There is no button for "last year". You have to laboriously enter 01/01/2015..12/31/2015. Then you're given a choice of formats. Download ALL of them, because sure as shootin', Quicken will only impor…

What gets me is when I see software designed this way and then start imagining how much money was spent developing it, and fellow software architects sitting back with their arms folded staring at the screen thinking what a good job they did.

Re: Intuit sells Quicken to private equity firm in management buyout

#67
post #55

Earlier quoted context omitted.

From what I've heard, the Quicken team is already pretty trim. It's just not growing and not in the cloud, so it doesn't align with Intuit's overall goals. The private equity basically just bought a discount annuity. FWIW, they didn't reveal the terms, but they did say that they expected around $500m from all three divestitures, and Quickbase and Demandforce are bigger.

Yep. I read that they doubled the size of their Mac team. My first thought was, "what, from 1 to 2?" Anybody happen to know how big the Quicken team is?

Intuit holds an annual internal developer conference (CTOF) and it appeared that the contingent from Quicken all sat at one lunch table. Probably between 10-20 devs, though I guess it's possible some didn't attend.

Re: Intuit sells Quicken to private equity firm in management buyout

#68

If there was one piece of desktop software that I think the world definitely needs an alternative for it's Quicken. I've got about 15 years of my financial life in my Quicken file, and I probably have used the software at least twice a week, religiously, during that time period. I've grown so dependent on it in a way I've never grown dependent on any other software. If it were to stop functioning tomorrow, I'd be scr…

What is super sensitive that you couldn't export to something like Mint? They don't store your account numbers on their cloud after you've completed the link.

It doesn't work like Quicken. It's too limited. Won't prevent you from bouncing a check, for one.

I keep my Quicken files on Dropbox so they sync just fine. I am also protected from data loss due to versioning. I also like the idea that the company storing the data is separate from the company that makes the software, so I can be assured that my accounts cannot be data-mined and everything works exactly the way I want it to.

Re: Intuit sells Quicken to private equity firm in management buyout

#69

Earlier quoted context omitted.

You touched on something I've always wondered about: what's up with all those different transaction data formats? What's wrong with simple CSv files?

CSV is strictly a single table, so it cannot normalize the data. You can end up with a lot of them or a lot of columns and empty cells.

I'm drawing a blank on the normalization that would be relevant for transactions. Do you mean something like "the sub-sub-account determines the sub-account which determines the account"?
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