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Havish Gupta
Figuring Out • 7m
Intuit, a $175 billion company, you know nothing about! So, Intuit was founded in 1983 by Scott Cook and Tom Proulx in California, USA. Cook got the idea for the company after seeing his wife struggle with managing household finances. He realized that he could create simple software to help with this. Thus, along with his friend Tom, he created Quicken, which became an instant hit. After the success of Quicken, they launched QuickBooks in 1992, an accounting and bookkeeping software designed for small businesses. This was followed by TurboTax in 1993, a platform that helps individuals file their taxes online. Also, Intuit has been quite active in acquisitions, with their major ones being: - Mint.com in 2009, which is a personal finance management tool that helps users track their spending, create budgets, and set financial goals. - Credit Karma in 2020, which offers free credit scores, credit reports, and personalized financial product recommendations. It is all because of these tools that Intuit today is listed on Nasdaq with a market cap of over $175 billion (Reliance got $238 billion in Marker Cap btw), has $15.8 billion in sales, and $3 billion in profit. What do you think of it?
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