Intuit To Acquire Mint For $170 Million • Hacker News Board

Re: Intuit To Acquire Mint For $170 Million

#41

Post by radu_floricica » Mon, Sep 14, 2009, 10:41 AM UTC

davidmathers wrote: post #11

plinkplonk wrote: post #5

Earlier quoted context omitted.

" just don't see Intuit as the right company to run Mint" It isn't. But (due disclosure: I worked at Intuit once and while I have no special knowledge about this deal, I know how Intuit works) Intuit had no choice really. Mint was high on management's radar and they were always scared of it. Intuit doesn't "get" the web, the whole company is structured around its success on the desktop and there are too many layers o…

The part I don't get is why Mint would take the quick exit rather than fight the fight. It looked to me like they were well positioned for a long term victory.

If they had powerful enough investors it may not even have been their choice. Not saying it's the case, it probably isn't, but it's not impossible either.

Re: Intuit To Acquire Mint For $170 Million

#42

Post by dca » Mon, Sep 14, 2009, 11:13 AM UTC

Wait - this is techcrunch. Didn't they just the other day also boldly claim that Facebook allows faxing of photos? Did they allow both Intuit and Mint a chance to respond? I'll be waiting a few days before cancelling my Mint account before I found out whether or not this is just another bad rumor.

Re: Intuit To Acquire Mint For $170 Million

#43

Post by shiranaihito » Mon, Sep 14, 2009, 11:25 AM UTC

Tiktaalik wrote: post #15

Hopefully this means that Mint will be finally be available outside the US.

The banks where I live use one time pads for authentication, which makes it impossible for Mint to work.

Re: Intuit To Acquire Mint For $170 Million

#44

Post by ojbyrne » Mon, Sep 14, 2009, 11:32 AM UTC

Lest we forget: http://www.techcrunch.com/2008/07/22/google-in-final-negotia...

Just because Mike Arrington says something is true doesn't mean it is. I'll believe it when there's an official announcement.

Re: Intuit To Acquire Mint For $170 Million

#45

Post by epall » Mon, Sep 14, 2009, 11:39 AM UTC

Wow! Nice exit, guys.

Re: Intuit To Acquire Mint For $170 Million

#46

Post by jjs » Mon, Sep 14, 2009, 12:34 PM UTC

jlm382 wrote: post #16

The question isn't so much why Intuit would buy Mint, but why would Mint allow themselves to be acquired so soon? If Mint was doing so well, they'd continue on their path to completely outplace Quicken. Something about this just doesn't add up.

The decreasing marginal utility of money meant that it was a good exit for the founders, regardless of whether it would have been optimal for the company in the long run.

Re: Intuit To Acquire Mint For $170 Million

#47

Post by brown9-2 » Mon, Sep 14, 2009, 12:54 PM UTC

shiranaihito wrote: post #43

Tiktaalik wrote: post #15

Hopefully this means that Mint will be finally be available outside the US.

The banks where I live use one time pads for authentication, which makes it impossible for Mint to work.

Which country?

Re: Intuit To Acquire Mint For $170 Million

#48

Post by secret » Mon, Sep 14, 2009, 1:08 PM UTC

immad wrote: post #35

quellhorst wrote: post #31

Earlier quoted context omitted.

This line of thinking is what spawned 100 me too YouTube clones.

Google is a more innovative home for tech companies than Inuit

I would have they or MS would buy Mint, maybe even Yahoo.

Re: Intuit To Acquire Mint For $170 Million

#49

Post by jcl » Mon, Sep 14, 2009, 1:28 PM UTC

dca wrote: post #42

Wait - this is techcrunch. Didn't they just the other day also boldly claim that Facebook allows faxing of photos? Did they allow both Intuit and Mint a chance to respond? I'll be waiting a few days before cancelling my Mint account before I found out whether or not this is just another bad rumor.

To be fair, Facebook did allow Techcrunch to fax photos. Their article was accurate, if not complete.

Re: Intuit To Acquire Mint For $170 Million

#50

Post by thrdOriginal » Mon, Sep 14, 2009, 1:31 PM UTC

plinkplonk wrote: post #29

davidmathers wrote: post #26

Earlier quoted context omitted.

Crushing your enemy, seeing them driven before you and hearing the lamentations of their women is victory (e.g. Larry Ellison). $170 million is retirement.

"Crushing your enemy, seeing them driven before you and hearing the lamentations of their women is victory" While some management "self help" books use war as a metaphor for business, business isn't really war. The Genghis Khan quote you used might be appropriate for a medieval era barbarian general, not so much a businessman in the 21st century. "Victory" for a startup is meetings its founders'/investors' goals. No…

The quote is from Conan the Barbarian: it is a funny quote, a funny post, and probably not meant to be taken as a metaphor for business.