There are two things with this acquisition that stuck out for me.
Firstly, Intuit is known for its accounting software and is not a player in the email marketing space. One conclusion is that Intuit is looking to double down on its market share across the small business market and expand from just accounting software with a foray into email marketing.
Perhaps this is the first of many acquisitions for Intuit in providing more products and services to its customer base?
Secondly, Mailchimp is probably the most well known fully bootstrapped startups. They’ve raised a total of $0 of venture capital and aren’t from Silicon Valley either!
It’s a great example to show that you don’t have to raise capital to make your startup successful, although it can certainly help to accelerate your growth.